SLV traded to 18.35 last Sep and looks like it is ready to push tru that level and has its sight set on 19.55 and 20.64. At its current price it has broken thru a resistance line from 2014. SLV looks like ti may finally be ready to break out!
RIG is starting to perk up after holding its breakout area around $1.75. It held at the golden pocket marked by the $.76 low and recent $3.82 high. That high represents resistance that will take a little more consolidation action before a definitive push thru. The first attempt was parabolic and if you owned this in size for the $1 it traded at for better than...
NFLX seems to be finally getting on the big tech bandwagon. 7% move today. Let's see if it sticks. Would like to see volume pick up last hour and have a close at the high. Indicators looking good. $500 around the corner.
Looks like it may be time. Lots of consolidation work. Held green line support and pushing up against yellow line resistance. Wait for it!
SLV is at a critical juncture right here and a push above the overhead resistance will put it back in attack mode for the Feb highs. Would like a solid close today on better volume.
After consolidating for the better part of two months, GDX is set to attack the next FIB levels. I expect it will be successful given the indicators. MACD crossover and RSI turning up. Selling on lighter volume through the bull flag. Moving averages all turning up. Really not much not to like.
Looks like it to me. After the huge spike VXX has consolidated in a flag pattern at the golden pocket that looks ready to go higher. This could be the week that things start to reverse course for the overall market. MACD and RSI looking favorable. Watching this very carefully.
This is a weekly chart that goes back to the prior bull market when GLD hit its peak around 185. We are 19 points away from that and have cleared many many milestones and continue to trade strongly in the last FIB level before new highs. For the naysayers that still think we are in a bear market show me why. Last week we cleared a milestone taking out the...
GLD consolidating in a well formed channel now for a couple months above the h&s breakout. Also needing to consolidate its move that started last May. While SLV plays catchup and gold/silver ratio starts to normalize, expect a little more churning here. Miners will let us know when the coast is clear.
Miners appear to have tested an important support level in this flag pattern. Waiting for that break! It's coming!
SLV looks to me like it's headed to the promised land. RSI divergence. Gold/silver ratio needing to normalize while gold marks time. Bull flag break coming. Wait for it!
NEM traded $69.13 down to $52 holding head and shoulders breakout point. Over the last four days buying volume has picked up, MACD looks ready to crossover, and RSI is turning up. This is going to lead the GDX breakout. Wait for it.
GLD is trading in an extremely tight range between the red and yellow lines and continues test overhead resistance from the peak in 2011. It looks to me like it is only a matter of time before it blasts through and attacks the all time highs. Very very accommodative Fed. This is where you must decide if you are joining the train. Either way, I'm just happy to...
AMD is holding between two FIB levels in a very very tight range ($51.72 - 53.45) in the bull flag pattern. I expect it still needs a little more time before the next leg. Which way that leg goes is still uncertain but AMD has missed out over the last couple weeks and we know that they save some stocks and this is one they are saving for the upside when others...
Stock has tripled in less than a month. Behaving very nicely and it appears the reversal has legs. At FIB resistance but should push thru.
QQQ is due for a correction. The breakout from the flag has been impressive but there is absolutely no reason for this market to continue up like it has. Let's call it what it is, a continuation of the bubble that was interrupted by the virus. It's still a bubble and the underlying economy is much worse off than we were in Jan and feb. Until such time as we...
Since the breakout of the inverted head and shoulders move off the coronavirus bottom, GLD has worked on a near textbook sideways consolidation. This move is critical in that it is holding at the breakout point of the h&s breakout, but it is also holding support at the resistance line that marked the break of the three peak top from 2011 - 2013 that ultimately...