This name has gone straight up for 7 weeks without a pause after a long consolidation of the second move from $16. This is bumping against resistance but this is exactly what the AAPL chart looked like before it busted through. My inclination is to take profits here. NVDA reports after the bell which could be the knockout punch for the chip sector (a la CSCO...
The topping process is taking more time than I expected. Stock is up 9 out of the last 10 weeks and now 8 in a row. This looks a lot like last year's run right before it crashed. The magnitude of the move off the lows in January is beyond shocking. Price targets being raised everywhere. I think AAPl is ready to fall and bring the market with it. All...
Ten year yields have bounced about 50 basis points since the low a couple months ago, but are still down 135 basis points since last year. Looking for rates to fail at the resistance that marks a downgrade that dates back decades. This would be a huge negative for the market and ultimately the economy. Precious metals would be the place to be.
This is a historical chart of GLD since inception of the ETF. It is my favorite long term chart pattern on the board right now. With markets all over the world making new highs and the almost singular focus on equities, gold is quietly doing some amazing things. If you look at the historical run it had after the 2008 flash crash, it made a methodical climb to...
PAAS seems to be signaling the next uptrend in silver. MACD and RSI looking good. Silver has sold off dramatically over the last few days along with gold. I have a feeling that silver will lead the next leg up in metals. I like this set-up right here for this miner.
We are doing exactly what we should be doing. Consolidating a huge up move. This flag is ten weeks in the making and about five weeks less than the flag that began the most recent breakout. Going back to 2009 and the stair step up to 2011 you can see similar flags of similar duration. I'm not calling a bottom but just want to show that we are doing what we...
I've been watching this name for some time and still believe that this is working on a base to push higher. Looking for a big volume day that pushes it squarely into upper channel and works to take out $7.69. Watchlist item.
I like the risk reward around here. Another 25-30 cents and we will fill the gap from the August breakout and we will be hovering at the 200 day. Also looking oversold on RSI. See a lot of upside potential but like all the metals trades patience is the key. Can't always catch the swing highs and lows, but we are getting close on this one! Need Mr. Market to...
I have this chart marked every which way to Sunday. Still believe that GLD and the precious metal space is due for some kind of rally. It is at an inflection point right now and a hold here would be a good sign. Could use some help from the market too. Everyday making new highs on the same trade story has become debilitating. In any event I do not believe we...
Well this name is over $8 premarket and looks like the day we were looking for when I posted a couple days ago. Should see some volume with this move. Nice move off the bottom and appears to be under accumulation. Company working on cost cutting and other measures. Like this as a long term hold but its volatile and can be traded as well.
Consistent with my posts regarding DIA, QQQ, and SPY, it looks as if we are in for a period of volatility. Lots of complacency out there given earnings and the macro economic uncertainty. Chart looks like a pop should be coming soon. RSI and MACD both look good. Hang on folks its coming. It's good until it isn't.
Looks that way to me. Top end of the channel here which has been narrowing for two years now. Decreasing volatility and volume drying up during this time. IMO shorts keeping this thing aloft believing the mother of all bulls has to come down. Trump tweeting everyday that markets are at all time highs and to spend your money well. Something has to give. It's...
AMD is making back to the underside of the prior channel on a moonshot! This stock along with the overall market needs a rest. No chance of pushing through with that type of vertical move.
This vehicle tracks the NDX 100 and still hasn't made it back to the channel it broke through last year. I suspect there is just not enough momentum or real reason for it to make it back into the channel but who knows with this market. My guess is down. In 2000 this stock made it to 120 and sold off to 25 losing 80% of its value. Not saying that is where we...
Newmont the most volatile that it's been in a long time. Earnings and revenues fell short of expectations but still better than last year. Holding at key FIB levels and bounced off the 200 day. I like this to move higher over the next couple weeks as it readies itself for the next move up.
I am never amazed at the talking heads on TV. They are almost all looking for a breakout after the run we have had over the last 10-11 years. The market was in a very well established channel for 8 years and for the last two it has created a new channel, at higher levels, save the selloff last year. This is a breakout and can't be sustained if my opinion. ...
AMZN is bumping up against support channel (now resistance) after a bad earnings report two weeks ago. Stock traded $1620 after hours that day and is up over 10% from those lows. All news is good news right now. I think this fails here and looks to ultimately test that $1306 level recorded earlier this year.
A little surprised to see this weakness given the constructive price action and technicals over the past week. GLD is down at the bottom end of the channel it has been in for the last 6-8 weeks. For now the correction appears to be contained and the same goes for the miners. Expecting GLD to hold and continue its basing around these levels.