sosgoodlfc

sosgoodlfc

This has now officially turned very bearish. Under the 200 EMA, we had a perfect rally back to the old trend line and bounced off it as resistance, and we broke under major support. I still think the longer term view supports higher gold prices but right now I wouldn't touch it until it found strength in the 1600s. The other option is the sell off reverses and...

sosgoodlfc

Long term I'm bullish on oil but I wouldn't mind a little mean reversion here.

sosgoodlfc

Tech divided by the broader market has shown an outperformance in tech. Until the channel break with a follow through I would stay weighted with tech over a more balanced portfolio. In the event the channel is broken a rotation into a balanced portfolio may be the best idea.

sosgoodlfc

Rising yields creating inflation fears and rate hikes being priced in. But this market is on crack & will most likely bounce back because the party can't be over. J Powell could jaw bone this market to all time highs just by saying he's going to do yield curve control.

sosgoodlfc

Gold getting hit by rising bond yields, a side ways trading dollar & risk appetite in broader markets. But... I like the commodity. My longer term view is still 3000 gold. If it starts breaking down from here though I would worry about a technical sell off on broken support (Could be looking at around 1600s in that scenario). But if we get a contraction in...

sosgoodlfc

It could just be an ABC which has been completed and a smaller correction is needed. Just in case it's not I'm implementing reversion strategies. You never know if a reversion turns into a ~10% correction.

sosgoodlfc

As the price falls through the fib level and recovers above it consider a short term long with a view of a run up to paint a double top going into the election. Good risk/reward and not bad probability.

sosgoodlfc

Here are the 10,20,30,40,50 & 60 tick projections based on my "Inertia Model" (Subject to being updated as price develops - Historically the further out the prediction is, the less accurate it will tend to be) NOT ADVICE - JUST SHARING MY NEW STRATEGY FOR CATEGORISING THE MARKET INTO PHASES FOR MY QUANT STRATEGIES Current Inertia Level of market: -2.404 (Bearish...

sosgoodlfc

As gold comes into the blue area I'm personally happy start adding into weakness here. Still expecting a move into wave 5 coming into the latter end of the year. Additional notes - The Dollar has recently broken up from a consolidation which could cause some further volatility. Regardless I'd still be adding, we are in a metals bull market with all the...

sosgoodlfc

My previous consensus was a deeper ABC correction but as we continue to trade sideways around this area the support becomes stronger. So here is an alternative view. We may see a double top which will surpass the previous high. If the double top is painted on diminishing momentum expect a good dip back to at least the 20 DMA before it continues to trudge upwards...

sosgoodlfc

Just thought it would be good to remind ourselves of the bigger picture with the Dollar. Could easily see strength around here as it seems to be forming a base on the daily.

sosgoodlfc

Reiterating my long stance on bonds. I see two possible outcome which could ignite TLT back to its previous high. 1) The broader market gets back to it's previous high in which case I think TLT will likely follow as institutions hedge on the way up 2) We go for a deeper sell of in the broader market completing an ABC correction which may lead to a flight of...

sosgoodlfc

If it breaks the most recent low it may be worth a short term short

sosgoodlfc

Updated my gold projection as I believe we are getting very close to a break up to the wave 5.

sosgoodlfc

Provided the broad market doesn't start to take a real beating & this remains only a correction for tech I would expect a continuation of the trend for the dollar. See the blue shaded area for projected levels where the trend may continue.

sosgoodlfc

The Lira is trying to desperately hold these levels. The USD is potentially being put under a lot of pressure through this manipulation - If a reversal is to come in the Dollar I would keep an eye on how this plays out.

sosgoodlfc

I really like this set up

sosgoodlfc

After the FED meeting has the wave 5 been sped up?