NG is getting oversold on the daily - its back to July Levels. Initial indicator was to long NG once we bounced off the green trendline. 9dma/20dma rejected NG today so we just have to wait, but this could be a decent swing trade!
As we enter the final leg of the secular bull market, lots of folks are pointing to look at how broad the rally will be. Industrials have one of the cleanest, and healthiest charts of all the sectors that I can find. Classic consolidation/bull flag to test the 200d SMA and 50w SMAs. There are lots of ways to play this, but I see the sector having at least...
The Global Economy is slowing down. China is slowing, DXY is spiking, and the case for base metals is starting to wane. Looking at things like NG1! and Copper, things are starting to look like blow off tops. I am slowly building a large longer term Copper short position that I can scale into - TP will me the weekly 50 SMA. I have found the most rewarding...
Major Monthly support has now been broken. BTC looks toppy and a 50 month retest is due at some point. Targeting BTC to ~12k
The DXY has been super strong lately and lots of folks are wondering where the final target is. One way to do this, is to view a leveraged currency ETF to try and identify patterns. The ETF leverage amplifies the movements you might otherwise of missed. Classic Inverse Head & Shoulders on EUO. EUO is a -2x EURUSD ETF that you can trade in the stock market....
Possible H&S on QQQ - should resolve over next month or so.
See my other post talking about how the SPX could be near a 100 year topping pattern. With BTC down >50% thus far, could BTC be the canary in the coal mine for the broader market? Historically, All indexes look to be topping out on larger Time Frames (such as weekly/monthly) - so where does that leave the Nasdaq? Do we get some sort of global deflationary...