---
title: "Reversal"
url: https://independentstockanalysis.com/reversal-2/
description: "I am not much for forecasts and predictions, but today’s reversal would be powerful if it held. Energy and material stocks are off less than the market…"
published: 2012-05-09
updated: 2012-05-09
---

# Reversal

Published 2012-05-09

Posted on

by

J.J. Butler

I am not much for forecasts and predictions, but today’s reversal would be powerful if it held. Energy and material stocks are off less than the market and tck is green. The S&P 500 looks like a inverse head and shoulders intra-day. But the gold stocks have had the most remarkable day and look like a low risk entry **today**. They opened down 2%, reversed early on huge volume and are currently up 2%. The MACD divergence and possible engulfing candle (we’ll know by the close) add to the allure of the depressed shares. [Stockcharts](http://stockcharts.com/h-sc/ui?s=gdx)

I’ll see what my favorite technician says later today. [ChessNwine](http://ibankcoin.com/chessnwine/)