Glewis54

Glewis54

Adding in to the strong Stochastics reading, note that the BBW is also increasing. Good rule of thumb, when this BBW indicator (volatility measurement) is getting bigger, stay with the trend. When this indicator reverses, prices tend to revert to the mean or move to oversold. For now, enjoy the rally

Glewis54

Recent short term bottom supports a longer-term double bottom. First target 17-18.

Glewis54

Still early but always good to be aware of what might be brewing. Before I go nuts thinking that gold and silver might be poised for a rally, on a falling dollar, the trade might be better as a short term paper trade rather than buying physicals for the longer term.

Glewis54

In looking at ways to play dollar weakness, instead of currencies, Emerging Markets are one way, here, the Frontier 100 Fund may have some upside. Not sure I'm ready to take a position yet, but noticed that last week, Gold, Mexican Peso, Japanese Yen and others started to reverse even as the dollar continued to strengthen. Perhaps the dollar party will soon be over.

Glewis54

Still much debate as to what direction the SPX will move next. One indicator I like to look at, across all time periods, is the slow stochastics indicator. This is meant to give some indication of the buying/selling pressure of an instrument based on where it closes in relationship to its price range over a given period. A rising indicator can indicate buying...

Glewis54

While the Head and Shoulders pattern is often associated with a topping formation (or bottoming in the case of an inverse head and shoulders), it can often show up as a continuation pattern. Since most of the articles I have read recently about the Gold:Silver ratio state that silver comes out of the ground together with gold in a15:1 ratio, that the market...

Glewis54

Silver shot up to resistance several weeks back but dropped hard testing support. My expectation was that if silver once again failed to break out to a higher high, it could break out of the pennant and drop, building a bear channel. It appears that silver is now set up for another three week test of the high. As the arrows point out, the last three times we...

Glewis54

Long term downtrend about to resume. On the TLT play, I see under 108 by Jan 2019 option expiration.

Glewis54

While many are confused on which way the market will go next, there does appear to be an inverse head and shoulders pattern already developed in SPY. Friday's down draft merely tested (and held) the breakout level. Next stop, 278

Glewis54

I had been anticipating a three month test of the high in silver this month. The sudden move up adds to the drama as we are still early in the month. A failure to make progress here and price could fall to 13 or even under 10!

Glewis54

Trend still up, it seems

Glewis54

One of my favorite trendlines to use for long term buys and sells is the 40 month moving average. A quick scan of the SPX monthly chart shows that recent trips to this line were potential action levels. Interesting to also note, when the Fib retracement template is placed over the chart, in a couple of months, continued downward movement on SPX would hit both...

Glewis54

While the SP trendline is going down, TLT trendline is going up. A weak stab at making a 3-day test of the low, holding the rising trendline, bonds will continue to surprise and continue higher.

Glewis54

Not only did SPY fail to break the closing high 3 days ago, but it barely hit the falling trend line. Perhaps another leg down to 245.

Glewis54 Updated 

Looking for SP to test Tuesday's close. Also, the potential for an inverse head and shoulders. Tough to go long with Chinese retaliation to Trump's latest $100 billion increased tariff, possibly coming on the weekend. GL

Glewis54

The pattern looks similar. Another up day or two and then the bottom falls out?

Glewis54

But which way?

Glewis54

Bonds surged today as economic news pushed interest rates down. Despite looming Federal Reserve interest rate hikes, bonds defied expectations and continued rising. It was no mystery however as prices recently fell below the head and shoulders neckline above 122. As price broke through 122 today, touching the neckline, many technicians view this as a sell...