The Charts of the Month

• Posted by Robert Sinn
• on June 29th, 2012

June was a wild month full of whipsaws and sentiment extremes across markets. The month began with markets under heavy pressure amid pervasive bearish sentiment and ended with a massive rally in addition to some signs of optimism heading into a holiday week in the US. Gold ($GLD) printed a near perfect doji candle for the month while the Russell 2000 ($IWM), the S&P 500 ($SPY), and $AUDUSD all formed bullish piercing patterns on the monthly charts:

 

 

 

 

With markets rallying into month end and fear being greatly reduced the $VIX lost more than 25% during June and is back to being a teenager again after rising as high as 27.73 early in the month:

 

My Weekly Letter will be published on Sunday afternoon, enjoy your weekend!

 

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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