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Friday June 1st

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  • Friday June 1st

    Futures up a bit, destination to be determined by what Trump yaps about.
    Don't follow or make any trades based on any chart, guess, study, joke or prediction I make.
    Seriously. Don't follow me. Just don't. I only guess at things.
    Also.. I'm not the real Mr Miyagi; he's been dead since 2005.

  • #2
    Banks:

    https://kimblechartingsolutions.com/...ng-resistance/

    Comment


    • #3
      Stocks:

      https://likesmoneycycletrading.wordpress.com/

      Comment


      • #4
        SPY:

        http://www.wsj.com/mdc/public/page/2...moneyflow.html

        Comment


        • #5
          Europe:

          https://www.armstrongeconomics.com/m...-problem-bank/

          Comment


          • #6
            Corruption; Spain, USA:

            https://www.armstrongeconomics.com/i...-to-catalonia/

            Comment


            • #7
              Well, if AXU closes at 1.32 or below the black candle on the weekly chart from February will be negated and will leave the weekly chart totally "clean", so that makes me feel a bit better.
              Iím watching EXK as the leader at the moment. I think it can drop below the 50 dma for a week, but it should not really lose touch with that MA. I donít anticipate it doing so.
              I am leaning heavily towards a slow grind higher over the next 2-3 years in the miners. I would expect EXK to exceed itís 2016 high sometime in 2020.
              After 2020 I think this sector is going to rocket higher.
              I know some here will say the miners can move much more in a much shorter time span, but the more I think about it, in order to generate 10, 20 or 50x returns in the next 5 to 10 years, the rise could take its sweet time initially.
              After a low is reached in $hui on this correction (it may have already occurred or within the next 1-2 weeks) I expect it to finally make a higher high on the weekly chart in the coming months and never look back. Again, it may not be a rocket ride, but we will finally get a real, durable, sustained bull trend with consistent higher highs and higher lows, where you can feel confident in buying the dips. IMHO.

              Comment


              • #8
                NEM: Buyer of 2,900 in-the-money January 35 calls for $5.60 offer, need to check OI on Monday to see if it goes up. Price says buyer on tight spread.

                NUGT: Buyer of 1,500 August 24 calls for $3.30 offer, bid/ask spread was $3.20 to $3.30.
                Don't follow or make any trades based on any chart, guess, study, joke or prediction I make.
                Seriously. Don't follow me. Just don't. I only guess at things.
                Also.. I'm not the real Mr Miyagi; he's been dead since 2005.

                Comment


                • #9
                  Lunar green period started right on time,1 st June.QQQ will break up,finally.

                  Comment


                  • #10
                    SILJ daily BBs (20,2) are the tightest they have been in its history.

                    Whatever happens in the next few weeks, something huge (in terms of the long term trend) is brewing.

                    Comment


                    • #11
                      If SIL drops below the Ichimoku cloud here, it could be at least 1 month or more before today's price is recaptured. While it is possible to get a close below the lower border of the cloud for a couple of days, a sustained drop below a flat bottomed cloud is not good for near term price action. So it's do or die time for SIL here. Really would like to see it hold above the lower border of the cloud and head higher.

                      If we gap down on monday, it's going to mean a sustained slog for the next couple of months IMO.
                      Click image for larger version  Name:	Screenshot-2018-6-1 SIL - Global X Silver Miners ETF.png Views:	1 Size:	55.4 KB ID:	384618

                      Last edited by Spanky; 06-01-2018, 10:24 AM.

                      Comment


                      • #12
                        $HUI is in pretty much the same position as SIL in terms of its Ichimoku cloud. A big drop lower here will mean 1-2 months of chop below today's price. It needs to stay above the lower border.

                        Click image for larger version

Name:	Screenshot-2018-6-1 $HUI - Gold Bugs Index - NYSE Arca.png
Views:	1
Size:	57.3 KB
ID:	384620


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                        • #13
                          Anticipating a volatility expansion in Silver *(whatever that means). I would bet on the downside.
                          Last edited by spikeiii; 06-01-2018, 11:40 AM.

                          Comment


                          • #14
                            Futia:

                            http://carlfutia.blogspot.com/

                            Comment


                            • #15
                              Originally posted by Jim View Post
                              Dollar-Yen: A swing up to 117 is likely. OK?

                              Comment


                              • #16
                                Tech:

                                https://kimblechartingsolutions.com/...ys-joe-friday/

                                Comment


                                • #17
                                  Originally posted by spikeiii View Post

                                  Dollar-Yen: A swing up to 117 is likely. OK?
                                  Don't know

                                  Comment


                                  • #18
                                    Home construction & banks:

                                    https://kimblechartingsolutions.com/...-stock-market/

                                    Comment


                                    • #19
                                      Parets on the markets:

                                      http://allstarcharts.com/trends-u-s-...es/#more-78771

                                      Comment

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