Charts To Watch - Published Wednesday, March 13, 2013 6:59 AM ET

1 - New Gold and Silver Buy Signals (Weak Buy Signals)
2 - New XAU Buy Signals, still trading below 137.50. (Weak Buy Signal)
3 - Still waiting for the TSX Gold Index to close above 257.23.
4 - NASDAQ Bearish Head and Shoulders Pattern
5 - Higher Prices on Lower Volume
6 - Margin Debt

1 - Gold and Silver both generated new Daily Buy Signals on Tuesday.

If we get follow-through to the upside, how will both handle overhead resistance? Things did not work so well last time.

2 - New Daily Buy Signal for the XAU, but still trading below 137.50. This is a very weak Buy Signal.

3 -Still waiting for the TSX Gold Index to close above 257.23.

Barrick is still holding this index back. We need a close above $30.81.

I am curently long Golcorp from a Buy Signal 5 days ago, and I would be a lot more Bullish if Goldcorp would take out last weeks high. I would be a seller on a daily close below 33.23.

4 - While the DOW is hitting new highs, the NASDAQ is still a drag on the overall market.
Some traders are pointing out the Long Term Head and Shoulders pattern as a warning signal. A failure to retest the 2012 highs may mean a move back down to the neckline (dashed line) as the first target.

Apple is still not taking part in this rally. Inside day on Tuesday.

 

5 - Where did everyone go? Since bouncing in late February, the market has been climbing up and making multi year and in some cases like the DOW, hitting all time highs. That sounds bullish and this activity certainly has the media's attention. But what happened to the volume? Prices rising while volume is falling = Bearish Divergence.

 6 - The following is from http://www.amateur-investor.net
As the S&P 500 nears its all time high NYSE Margin Debt has exploded once again to the upside as investors are massively borrowing money to invest in the market.  Apparently investors have learned nothing from the previous two events when the Inflation Adjusted Margin Debt exceeded 350 Billion Dollars as both were followed by tops shortly thereafter.

All for now.

Stephen Whiteside

 Canadian Stock Charts - Canadian Stock Exchange - Canadian Stock Market - Canadian Stock Market Analysis - Canadian Stock Market Timing - Canadian Stock Market Timing Service - Canadian Stock Trading - Canadian Stocks - Gold Stocks - Stock Charts