Friday, May 6, 2011

UGL, AGQ, JJC, UCO, UUP & TNA Equivolume Charts







Gold may be bouncing off the lower EMA envelope. Aroon remains bullish (green line on top).
Silver is above the 138 Day MA (~ 30 week MA): the large green rectangular day may signify the bottom.
Copper is bearish [it broke down through the 138 Day MA (~ 30 week MA)]: the large red square day may signify the bottom...an island reversal may form. The Aroon has been bearish (red line on top).
Oil is also bearish. No equivolume evidence of a bottom (unless it is also forming an island reversal).
The US Dollar remains bearish despite a couple of up days. The Aroon has been bearish (red line on top).
TNA may be bouncing off the lower EMA envelope.

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