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Friday,January 11th.

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  • Friday,January 11th.

    Markets are soft,gold is flat,oil is down

    Again, keep in mind ES NQboth seen mid BB on daily still downwards. Also 5ma rising at a decreasing rate now. So be VERY careful into next week.


  • #2
    ES NQ both supported by daily 5ma. amzn reversal play now see if it can power through 1664 - that'd be a tell

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    • #3
      $AAPL Daily: #AAPL forming red inverted hammer right at 13MA bearish backtest. Historically this is a very bearish setup & could rechase lower yellow bear channel support quickly, just FYI, manage risk in case... #APPLE #Tech #Technology

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      • #4
        $VIX Daily/Weekly: Something is potentially VERY wrong here; daily Stochs collapsed all the way to 2.25, yet #VIX unable to reach 200MA. After looking @ Weekly, realized BC holding as support. If today closes above BC next week could be explosive. Totally changed lines to reflect



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        • #5
          $AMZN Daily: #AMZN shockingly after 4 days, upper purple TL resistance STILL holding. Replaced orange circle with cyan to reflect potential 50/200MA cross failure (just like previous 13/200MA cross failure outcome). Could be extremely bearish... #retail #Amazon $FANGS $FANG

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          • #6
            $GDX Daily: $GDX shooting star forming on daily. Stoichs officially cross below support TL. MACD cross bearish about to break Magenta. DXY putting on solid green hammer. Expect a 99yrd punt return in the other direction for the USD home team #Gold #Miners $Gold

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            • #7
              I continue to believe this is the best GDX has looked in 7+ years technically. I also believe the 20 WMA will provide solid support for years to come.

              The problem is in the short run, GDX has put some distance between itself and the 20 WMA, which is currently at 19.40 and rising. It could decide to retest that MA at any time, which of course will be a buying opportunity. The other issue on the weekly chart is the red Ichimoku cloud that still stands in GDX's path. To keep its forward momentum it looks to me that GDX will have to close above $21 by the week of March 18. If it fails to do so, GDX will be in danger of drifting sideways to lower for most of 2019 IMO. I personally believe GDX will be $21 or higher by mid-March.

              Obviously there is quite a bit of time for up and down movement between now and then and I imagine the banksters will make full use of the playing room (i.e., the distance between current price and the rising 20 WMA).

              Its hard to advise anyone to buy right now, but then again I have been holding a full mining position for 3.5 years and will get the benefit of any upside surprises. You either accept that this is a bull or you dont. If you do, you take a deep breath, take a position and have to keep in mind that there is room for a drawdown any time price is above the 20 WMA.

              The miners that bottomed after GDX, in Nov. or December (e.g., AUY, HL, AXU), especially silver miners, dont look nearly as good technically as GDX on the weekly or daily charts, so it is much harder to gauge how they might react if GDX corrects. Unlike GDX, most of those miners' 20 WMA hasn't even flattened out yet, much less started rising.
              Last edited by Spanky; 01-11-2019, 12:40 PM.

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              • #8
                GDX's weekly chart showing the red cloud in its way. I have boxed the zone where a break through is most likely. As I said, if GDX can't manage to close over 21 at the end of that window, the risk is going to be to the downside for most of 2019.


                Click image for larger version

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                • #9
                  $XLK Daily: #XLK getting close. Stochs should peak by Tues at this rate. In between two resistance TL, more time needed to see how this unfolds... #Technology #Tech

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                  • #10
                    $XLE Daily: #XLE minor light blue TL holding as resistance so far. Stoichs approaching their limit soon. Could be a potential ST top but still too early. 2-3 more days needed for conf, just keep an eye on this level $OIL #oilandgas #crudeoil

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                    • #11
                      $NFLX Daily: #NFLX is officially the most ST overbought ever. I have never seen a 98.26 on my Stochs ever (red cicrle). Also extended magenta resistance back to 3 prev peaks, if it holds as resistance watch out below. RSI getting overbought too $FANGS $FANG

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                      • #12
                        $MSFT Daily: #MSFT orange resistance TL holding. If it continues to hold, MAFT should revisit lower Magenta channel support again... #Microsoft
                        is by far the largest component of the $XLK so it is important to keep an eye on it. #Tech #Technology #XLK

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                        • #13
                          #Biotech WEEKLY: $IBB nailed BC perfectly. With Lower BB so much lower after such an extreme rally this could be setting up very bearish scenario potentially, smart place to take some chips off the table here if long. #IBB $XBI

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                          • #14
                            Futia:

                            http://carlfutia.blogspot.com/

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                            • #15
                              Fear & greed:

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

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                              • #16
                                https://apnews.com/c8646ad291c440978c5d8a260a11d454
                                As in late-60s, it appears French understand money & the connection b/t money & political power far better than US electorate, & in particular, that a "bank run" can be a VERY effective tool to drive political change. (Late-60s = "Dear US, give us our gold. Love, France").

                                Last edited by froll61; 01-11-2019, 03:09 PM.

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                                • #17
                                  Alex:

                                  https://chartfreak.com/2019/01/let-tell-story-gold/

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                                  • #18
                                    Bob Loukas‏ @BobLoukas
                                    FollowingFollowing @BobLoukas

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                                    So far the rally is progressing well off the bottom. That low was too much of an event to reverse too quickly. First test coming up soon with top of 1st Daily Cycle. But on weekly, 200 points of room IMO. #stocks

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                                    • #19
                                      Bob Loukas has been copying and pasting another analyst work for quite some time now... not nice

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                                      • #20
                                        Originally posted by Sophia View Post
                                        Bob Loukas has been copying and pasting another analyst work for quite some time now... not nice
                                        Nobody knows the direction,my guess we have one more small push,then a correction to 2520 and a new leg up to test former highs.Everybody thinks we are going down more,Mr Market loves to confuse everybody.

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