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Weekend Thread - January 5th & 6th

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  • Weekend Thread - January 5th & 6th

    Stocks:

    https://likesmoneycycletrading.wordpress.com/

  • #2
    Fear & greed:

    https://money.cnn.com/data/fear-and-greed/

    Comment


    • #3
      A current Bitcoin price:

      https://www.worldcoinindex.com/coin/bitcoin

      Comment


      • #4
        Ralph Acampora CMT‏ @Ralph_Acampora Jan 4

        Yesterday's 660 point Dow drop could be looked at as a successful retest of its 12/26/18 intraday low. A close above 23,413,47 would be the breakout that the market needs to resume its near-term rally phase. This is a tradeable environment.
        Last edited by Jim; 01-05-2019, 09:46 AM.

        Comment


        • #5
          $SPX Daily: #SPX broke out from 13MA right up to BC. Should break or even gap up Monday. However, multiple major backtests ahead. Had to readjust likes BC they weee offing 50/Purple fails resistance then a shot at 200MA possible, but given Upper BB already there, unlikely

          Comment


          • #6

            More
            #GOLD Daily (18mo): $GOLD nailed perfect backtest of 2YR bull TL. With DXY rolling over, this should touch the 1310 dashed trend line soon. Today was probably a one day flush as technical triggers sold right at 1300 barrier. Should retrace Upper BB back up #GC #GLD $GLD $GC

            Comment


            • #7
              $GDX Daily: #Gold #Miners $Gold Miners touched purple TL right on cue. So far it has held. Still some upside ‘ Consolidation, all depends on what happens to DXY next. For now a strong tail wind to at least stay above blue horizontal TL

              Comment


              • #8
                #Biotech WEEKLY: $IBB (no idea why wrote daily last time), bullish break past 200MA. Looking like a candidate for potential 50MA / Boll Center backtest . Keep an eye out for any kind of shooting star backtest of either, if resistance 108.25-109.25 get outta town ASAP #IBB $XBI

                Comment


                • #9
                  #NATGAS Daily: $NATGAS confirmed double bottom today. Closed green & above 3.0 just as indicated yesterday. With that out of the way, here is the path forward for next week. Be patient, wait for the 2nd double bottom, you know what to do (Thurs-Fri)... $UGAZ $DGAZ $UNG

                  Comment


                  • #10
                    $SOYB Daily: New Chart #SOYB USD weakness proving up commodity process. Will DXY still a ways to go combined with #SOY breaking out past 50MA to close the week implies more strength ahead. 200MA, Upper BB & Blue channel TL are your 3 upside targets. 13MA cross 50MA #Soybeans

                    Comment


                    • #11
                      $WTIC Weekly: #WTI played out nicely from last weeks cleaned up chart. #Crude #Oil formed textbook bottoming hammer Doji with strong follow through this week. Any kind of 13MA backtest or shooting star next week w/ close back below $50 be viewed as bearish still #WTIC $OIL $WTI

                      Comment


                      • #12
                        $WTIC Daily: #WTI testing BC intraday as mentioned it would yesterday. Intraday breaches implies more potential upside, but must break above BC for good by Tuesday at the latest (it should by Monday EOD). Extended teal TL in case $CL $WTI #Crude $OIL #WTIC

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                        • #13
                          $USDJPY Weekly: #USDJPY market makers putting on a show... look where they chose to close it... (just above Lower BB on daily)... $JPY #JPY #FX #FOREX

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                          • #14
                            $USD Daily : #USD performed perfect shooting star backtest of previous support Purple TL now as resistance. Furthermore, this happens just after a 13/50MA cross. Stoichs now curling down directly towards my green circle following red arrow to a T. Textbook! #DXY $DXY #FX #forex

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                            • #15
                              $EURUSD Daily (Alternate): #EURUSD This champagne cork is about to pop ... #FX #FOREX

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                              • #16
                                #Dow Daily: $DOW Update... #Dowjones now officially broke through 13MA & now rammed right up to BC. It will probably stall out here for the day, but Mon should break / gap up. My original target dates were Jan 4-8 for orange circle, should get there by Tuesday 8th. #economy

                                Comment


                                • #17
                                  $TSLA Daily: #TSLA saved by channel support. However, 13/50MA cross is major bear signal. Expect a backtest somewhere in orange circle. Moved red target circle further out to reflect the bounce. #tesla

                                  Comment


                                  • #18
                                    Jt‏ @Jtacher51 37m37 minutes ago

                                    Jt Retweeted Andrew

                                    Don’t say you haven’t been warned ... a V rally heading into overhead supply is a bull trap.

                                    Comment


                                    • #19
                                      Stocks & the Fed:

                                      https://twitter.com/Schuldensuehner/...24564700991489

                                      Comment


                                      • #20
                                        Brandt:

                                        https://twitter.com/PeterLBrandt

                                        Comment


                                        • #21
                                          Palladium Approaching Parity with Gold


                                          For almost 16 years Mr. Market has valued Gold higher than Palladium. The last time these metals were equal was back in the year 2002 when both metals hovered around 300.

                                          From 2003 through 2018, the Palladium:Gold ratio built out a 15 year inverse head and shoulders with a breakout above the neckline in late 2018. In November 2018, the $PALL:$GOLD ratio reached a value of 0.98, almost hitting the 1.0 Parity Line.

                                          Back in 2001, the ratio hit a high around 4.0 (Palladium valued 4X more than Gold). If the ratio were to retest 4.0 while Gold remained static at 1300, this implies an upside target price of 5200 for Palladium, roughly 3.33X higher than Palladium’s current price around 1200.

                                          For now, Mr Market values Gold slightly higher than Palladium. But if the $PALL:$GOLD ratio breaks through and sustains above the 1.0 Parity Line, I would research Palladium mining stocks, especially if the ratio develops a trajectory to retest the 4.0 level from the year 2001 highs. -

                                          Kidding aside

                                          That is one beautiful chart.

                                          Confusing as hell too…If that beautiful breakout holds and history repeats we may see a LOT lower Gold prices

                                          Unless Palladium just goes ballistic for some reason
                                          Last edited by froll61; 01-06-2019, 12:00 AM.

                                          Comment


                                          • #22
                                            https://www.bloomberg.com/news/artic...ybrid-car-boom Another reason to be bullish on Palladium.

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                                            • #23
                                              https://www.tradingview.com/x/iYOBo9rE/ Palladium.

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                                              • #24


                                                lowest unemployment #’s since the 70’s in Canada, hmmmm hard to find workers equates inflation alongside Justinas’ carbon tax . Surfed a bunch of oil stocks last nite and they resemble gold stocks 360 turn to the bottom. Almost like destination point achieved and rung out all the sellers and dead money so time to rinse it back up for another fleecing. Easy to get high unemployment data when so many social programs to make it easy to sit at home and not have to participate in the actual data. B.C NDP Communist Party just passed ” Affordable Child Care Benefit which provides up to $1250 per child a month for families with an annual income of $111,000 or less….” Stay at home with the new living wage and make babies looks like the future.
                                                My cabinet maker has an employee with 7 kids and his buddy has 11 kids … wtf???? Don’t forget to add in $600/month family allowance per rat. RANT over. Sheeeeeeesh.
                                                Canucks....Just no comments...

                                                Comment


                                                • #25
                                                  https://goldtadise.com/wp-content/up...art711Gold.png Surf city:

                                                  I am talking about Gold’s longer cycle here so I am expecting a bigger pullback but expect a higher low. The grind up has been slow and overlapping rather than bullishly impulsive like in early 2016 so we shall see. Markets, especially Gold, tend to move lower more quickly than they go up but with 20 weeks now into a top perhaps we will only get 6-10 weeks to the down side. Time will Tell.

                                                  Comment


                                                  • #26
                                                    Interesting relationship between Gold, VIX and the S&P500 that precious metalheads may appreciate!

                                                    Since the 2009 crash, the $GOLD:$VIX ratio has defined a sideways channel with a top rail of 60 and bottom rail of 40. Deeper and longer corrections in the S&P500 coincided with the GOLD:VIX ratio approaching or falling through the 40 level. Minor and quicker corrections coincided with the GOLD:VIX ratio testing and regaining the 60 level.

                                                    When GOLD:VIX sustains above 60, we see the S&P500 expand to higher valuation. Most notably see this behavior from mid 2012 to late 2014, and late 2016 through early 2018.

                                                    Right now, with GOLD:VIX approaching 40, these conditions are most similar to the corrections surrounding the 2010 Flash Crash, the 2011 downgrade of US debt, the 2015 China Yuan devaluation, and the 2016 Oil Crash. The “Bullard Bounce” of late 2014, Brexit and the 2016 US Elections are examples of minor pullbacks in which the GOLD:VIX ratio briefly tests and regains the 60 level.

                                                    This chart is not definitively calling a bottom. It tells us that the relationship between Gold and the VIX is approaching conditions similar to when previous market bottoms occurred. Happy New Year and a prosperous 2019!


                                                    Comment


                                                    • #27
                                                      PETER BRANDT
                                                      As a ardent Libertarian, I say let the U.S. government remain closed forever and let's as a country recapture the concept of personal responsibility.

                                                      Comment


                                                      • #28
                                                        Mr Foxnose‏ @asymmetricalpha 3h3 hours ago

                                                        Mr Foxnose Retweeted Premature Accumulation Trader

                                                        My view is we drop early in the week first but make a higher low then continue higher to test 2600-2700 then drop to lower lows after that. Have not seen anyone else with that view on Fintwit yet $SPX

                                                        Comment


                                                        • #29
                                                          Originally posted by froll61 View Post

                                                          lowest unemployment #’s since the 70’s in Canada, hmmmm hard to find workers equates inflation alongside Justinas’ carbon tax . Surfed a bunch of oil stocks last nite and they resemble gold stocks 360 turn to the bottom. Almost like destination point achieved and rung out all the sellers and dead money so time to rinse it back up for another fleecing. Easy to get high unemployment data when so many social programs to make it easy to sit at home and not have to participate in the actual data. B.C NDP Communist Party just passed ” Affordable Child Care Benefit which provides up to $1250 per child a month for families with an annual income of $111,000 or less….” Stay at home with the new living wage and make babies looks like the future.
                                                          My cabinet maker has an employee with 7 kids and his buddy has 11 kids … wtf???? Don’t forget to add in $600/month family allowance per rat. RANT over. Sheeeeeeesh.
                                                          Canucks....Just no comments...
                                                          Maybe Mr Horgan will self-destruct if the greens stop wagging the dog

                                                          Comment


                                                          • #30
                                                            https://thedailygold.com/will-the-mo...tals-continue/

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                                                            • #31
                                                              #DXY MACRO: Monthly $USD magenta resistance w/ rapidly falling Upper BB is proving too much (as warned last post). Last time DXY entered cyan Consolidation phase, retracement to 50MA happened (even overshoot), which is now @ 93.36 currently. Stoichs rolling #USD $DXY #Dollar

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                                                              • #32
                                                                $USDCHF Daily: #USDCHF backtested BC & 13MA perfectly with inverted red hammer and closed below 200MA (bearish signal). If it starts retracing down to Lower BB aggressively, My models show a touch of Blue TL by Jan 18th... #Swiss #Franc #FX #FOREX

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                                                                • #33
                                                                  Weekly $GOLD: Remember to ALWAYS look at big picture. Orange TL double top similar to 2011-2012 appears or be forming again. Stoichs 4th Top in broadening formation also happening again. Sirloin a little more to go, but reversal at Orange = very bearish scenario #GOLD #GC

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