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Friday,May 31st.

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  • Friday,May 31st.

    Markets are down 1.30%,gold is UP 10$,oil is down 2.5%.

  • #2
    Support now is at 2733. Resistance is 15 and then 33-38 points above any temporary low.Carl Futia.


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    • #3
      Hu Xijin 胡锡进‏ @HuXijin_GT
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      Based on what I know, China will take major retaliative measures against the US placing Huawei and other Chinese companies on Entity List. This move indicates Beijing will not wait passively and more countermeasures will follow.

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      • #4

        Adam Mancini‏ @AdamMancini4
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        Adam Mancini Retweeted Adam Mancini

        Textbook follow through on the cup & handle I posted in $GOLD and it hit my $1300 target. If we can close above $1304 today we will also break the trend of lower highs from February for the first time. Big picture looks good...it didnt even retrace 50% of its rally from August

        Adam Mancini added,

        Adam Mancini @AdamMancini4
        Watching $GOLD closely heading into next week. There's a nice cup and handle base forming here on the 1hr chart and if it can break out at $1289 it should target $1300 which would setup Gold well to break out of the range its been in for the past month…

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        • #5

          Adam Mancini‏ @AdamMancini4
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          Adam Mancini Retweeted Adam Mancini

          The bullish $oil setup I posted obviously failed. This was a great setup (fake break down, positive div at support) that I would happily take again, but even good setups fail.Ive got support at 54.75 (lower dotted blue line on chart), good spot for a relief bounce to backtest $57

          Adam Mancini added,

          Adam Mancini @AdamMancini4
          Fake break-down in $OIL today and the recent sell-off looks like a bear trap. Today's low set a strong bullish RSI divergence and also held its rising uptrend channel from the December lows. As long as the latest low holds looking higher to 60.80 then 62.40 if that clears

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          • #6
            Looks like WSJ has slammed the door on the Buying on Weakness/Selling on Strength pages. The links that have asia or europe as part of the link take you to last Friday's numbers. The link without asia or europe take you to a different page altogether (not the BoW or SoS page). I think they want you to pay up and subscribe in order to have access to those pages :-(
            A human being is part of a whole, called by us the ‘Universe’ —a part limited in time and space. He experiences himself, his thoughts, and feelings, as something separated from the rest—a kind of optical delusion of his consciousness. This delusion is a kind of prison for us... Our task must be to free ourselves from this prison by widening our circles of compassion to embrace all living creatures and the whole of nature in its beauty.”--Albert Einstein

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            • #7
              Futia:

              http://carlfutia.blogspot.com/

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              • #8
                A current Bitcoin price:

                https://www.google.com/search?q=bitc...hrome&ie=UTF-8

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                • #9
                  Fear & greed:

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

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                  • #10
                    Gold:

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

                    Comment


                    • #11
                      Surf's Up:

                      And he likes what he is seeing today with the positions he has open…

                      https://surfcity.co/2019/05/31/surfs-up-197/
                      "Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria." Sir John Templeton

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                      • #12
                        Gold miners $GDX had a rough 2019, under-performing $SPX strongly. The GDX to SPX ratio though suggests this is set to change. Since mid 2018 this ratio has been building a large cup & handle bottom and a break out should see an extended period of miner out-performance

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                        • #13
                          Head & Shoulders patterns aren't very reliable but this is an example in $SPX where one worked out. I am expecting a relief bounce but selling is unlikely to be over. I've got good support at 2720-30 as shown, but the "measured move" target for this H&S takes SPX to the 2650 zone



                          Adam Mancini @AdamMancini4
                          Many have pointed out the head and shoulders in $SPX and price is now coming in to test the support neckline which is now at 2800. This neckline has been tested 3 times now and needs to hold here to keep the bull case in tact. 2780 then 2730 support…

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                          • #14
                            $XLE MACRO: #XLE this weekly chart was 1st posted in March & has played out true. Last time MACD has performed a sub-centerline cross, Crude imploded both times (cyan circles 2015). Lower BB sharply reverse, trap door now open for $54 test $CL #WTI $OIL $WTI #Crude #WTIC

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                            • #15
                              $SPX Daily: #SPX my weekly close target was 2761.08 SPX now currently 2761.23 ... need I say more?! $ES #SP500 #Tradewar #economy

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                              • #16
                                Daily $RUT : #SmallCaps RUT Rooooohhh At key 1460 level referred to yesterday (sorry typo). Added green TL to illustrate how critical this level is. Chasing Lower BB as fast as it will move. If no bounce here, small caps about to go skydiving. Stochs cyan $IWM #IWM #RUT

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                                • #17
                                  #Dow Daily: $DOW chasing my magenta target as fast a Lower BB will let it. Getting very close to Stochs double dip 2nd bottom. This is the most quintessential corrective ABC you could possible map out . Literal mirror image of October #economy #DowJones $INDU

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                                  • #18
                                    Daily $BANK Index: #Bank is usually one of the best barometers. Once the orange TL failed, markets really started to gain downward momentum, now chasing Lower BB as fast as it will go (gaining downside momentum). #banking #Financials #financial $XLF

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                                    • #19
                                      David Larew‏ @ThinkTankCharts
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                                      The Indicators - Liquidity and Institutions buying are missing from the equation. Institutions heavy in Tech and Oil stocks. Yen, no liquidity, then the sell all button is pushed. 2722.27 SPX next target down??

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                                      • #20

                                        POLY.
                                        Houston, we have lift off.

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                                        • #21
                                          #BlueHorseShoe loves #Silver $SLV $AGQ POLY.

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                                          • #22
                                            Bob Loukas‏ @BobLoukas
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                                            Miners did not break down and this would be the best way to play a gold rally I'd expect. $GDX $GDXj $NUGT

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                                            • #23
                                              Bob Loukas‏ @BobLoukas
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                                              #gold might be confirming we're entering a risk off period. It will need more work to confirm though.

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                                              • #24
                                                Bob Loukas‏ @BobLoukas
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                                                Nearly a 10% move. Stocks should now follow to the downside. Both Cycles have failed, i do not see how they recover from this until the weekly summer low due late July or into Aug.

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                                                • #25


                                                  traderstewie‏ @traderstewie

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                                                  $QQQ closing in the lowest tick of the week..... Momentum is picking up to downside, best to not fight this

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                                                  • #26
                                                    traderstewie‏ @traderstewie
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                                                    $TWTR #14 on the 'IBD TOP 50' list! One of the few long setups I'm starting watching with close interest... Setting up rather well here as it held the 50 day MA and now forming a wedge pattern! #IBDPartner

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                                                    • #27
                                                      Bob Loukas‏ @BobLoukas
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                                                      Considering carnage in equity markets and gold's response, I'd say very big chance #gold is in a new Intermediate Term Cycle. Under that condition, a retest of $1,370 could come sooner than most expect. I took GLD $120 Dec call last we as a precaution b/c gold was still weak.

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                                                      • #28
                                                        By King Khan
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                                                        #BTCUSD fractals #Love_EW #LOVE_Fractals



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                                                        • #29
                                                          King Khan‏ @FaizFalak3 1h1 hour ago

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                                                          #BTCUSD update 1D 4H for now we are in uptrend formations channel tomorrow monthly close if we close above 8200-8300 or above 8000 then antoher leg up 9500-10000 even more uptrend bearish below 7800 check weekly report





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                                                          • #30

                                                            King Khan‏ @FaizFalak3
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                                                            Daily+monthly close above 8400 then road too 9500-10000 Close Below 8300-8400 pull back area 7300-6800 Eyes on closing 3H tick tock tock

                                                            1:42 PM - 31 May 2019

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                                                            • #31
                                                              NYMO:

                                                              https://stockcharts.com/freecharts/gallery.html?%24NYMO

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                                                              • #32
                                                                Bitcoin:

                                                                https://stockcharts.com/freecharts/g....html?%24NYXBT

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                                                                • #33
                                                                  NAMO:

                                                                  https://stockcharts.com/freecharts/gallery.html?%24NAMO

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                                                                  • #34
                                                                    ItzStockChartz and 2 others liked
                                                                    Bill Griffeth‏Verified account @BillGriffeth
                                                                    4h4 hours ago

                                                                    U.S. Mint American Eagle sales in May: silver coin sales -27% gold coin sales -60% The Mint did not sell a single American Eagle platinum coin in May

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