2012 September 13 GOLD, IWM, JPM

Here is the PnF Chart for JPM.  I've drawn some rough support and resistance lines.  As you can see after today's QE news, JPM jumped up into the $41 range.  I'd like to see it move up to $45 to test some more resistance.  If volume dries up then I have a stop loss set in place at $39.50.

Another stock I like to watch is IWM.  On today's Fed news, I watched volume and it really picked up mid-day.  Check out my notes in the chart.

Lastly, I will talk about GLD.  Gold made an obvious move up as investors sought a curb against inflation for coming QE.  If it breaks past the $171 level then look out as there is no telling where the top could be.  As always, look for volume to support a move up past $174.

OK.  Thanks for reading.  See you tomorrow.