THe DXY has been very strong of late with powerful moves against the key competing currencies. However looked at over the long term I see progressively shallower bull markets for the DXY and right now we are at just under a key level of long term resistance.
Point and figure gives you the most obvious and simple buy and sell signals. Here is a clear cut sell signal for Nvidia: a new O is printed below recent support.
Looking at gold on a point and figure chart shows that currently there is no buy or sell signal being generated by this chart type. Point and figure is a useful chart type because it eliminates time and only shows movements in price.
Subscriptions to Netflix have had their first period of shrinkage. This has triggered a powerful sell off. Markets tend to overreact and the big question is 'how low will it go'. I think the $150 level could be when the value crowd step in.
This is going to upset some silver bugs but the all time high of silver was 3.8% higher than the previous high in 1979. I am watching this one to see if it can break out of the current down trend. Not holding my breath.
Semiconductor company AMD is currently seeing a severe correction. When might the buyers step in for value? I think it is around the 92 level but if it breaks below that volume support line it could go as low as 72 before the bargain hunters step in.
No doubt the semiconductor sector has taken a hammering recently. Chip company Skyworks is rapidly approaching a long term support level and is this is very close to the fib golden pocket zone. Maybe a great time to buy the dip?
The 10 year yield has surged in the last year with inflation expectations rising and prices of goods certainly rising. However the chart shows a resistance line trend that the yield has yet to break through. I think we could be heading for a reversal but as yet it has not happened.
The DXY has been in a bull market recently and the monthly chart is forming a W pattern which could be interpreted as very bullish. However, to me the DXY has been in a long term down trend since it started back in 1968. The current price is not far off the top of the downward grand super cycle channel drawn. The fib level for shorting the DXY (golden pocket) is...
The ETF TLT which is made up of long term US government bonds has been in a bear market for a couple of years. It is now reaching lows which are at inflection points that could trigger a reversal. Both Fib golden ratio and long term volume support as well as the bottom of a long term channel could be reached very soon. If this long term dip gets bought it would...
This parallel channel long term chart of Bitcoin has a mid line that has stood as resistance on multiple previous occasions and now I see after several recent retests and a false breakout we now finally see a confirmed breakout. This looks very bullish for Bitcoin in the short term.
The last 3 weeks' candles see the price of Bitcoin pushing up against the middle line of this very long term chart of the Bitcoin price. This is a simple log scale parallel channel that connects the highs of 2013 and 2017 and their subsequent lows. If the price of Bitcoin can push above this middle line of resistance I think that could be the signal of the start...
Nokia has had a fairly big correction recently but now looks like it might be bouncing back up off a long term trend line
Very clear breakout. The cautious might wait for a re-test.
There is going to be resistance at 30864. If a breakout above that and getting support at that happens we could be off to the races and resuming the bull market. Too early to tell yet.
This chart shows the gold versus stocks. For me the price of gold versus stocks has a lot more work to do to definitely breakout of the downtrend versus the S&P500. I would rather hold stocks for now.
Amazon has been in a sideways correction pattern for a long time. this chart shows it relative to Nasdaq. Historically this has been a very good point to go long.