Jobs report Friday

I dont always do a Friday report if not much has changed since Thursdays report, but with the release of the jobs number , I did want to cover one thing…

BY the time I release this the numbers may be out , it is 8:00 a.m. as I start.   A good number may start the next leg up in the Markets. They have not been able to sell it down, they have just gone sideways. My first target was the big round 5000.  Since then we have just had a sideways consolidation,  can we now move to my 5200 number?   I was really expecting a pullback to the break out first,  then a run higher.

NASDAQ-   Higher now , or do we still pullback to test the recent break out? ( I thought we should drop)

What I wanted to mention was related to GOLD/MINERS. This has been an extended sideways selling period and this can build steam for a move. The problem with GOLD/SILVER is that they often throw a curve out there and give a false move first.  Like the shake outs, then they go higher that we have seen.  You also can get a pop higher and then a sell off  ( we have seen that recently with GOLD up overnight, then it sells off).   So here is what I am getting at  FOR TRADERS.  I cant recommend a long position here as a low risk entry, but this is what I think may happen .

I stated this before on these 2 charts,  so this is a timely reminder for any inclined to trade GOLD, SILVER, Miners at this time  (On your own) .  We could get a slam to new lows, shake out anyone who bought what looked like a daily cycle low 6 days ago…and then GOLD may reverse higher, putting in a real daily cycle low.

SILVER  already made new lows overnight, and I posted this the other day for GOLD possibility. Shake out scenario, something to watch for.

I posted this and asked that you look on the left side of the chart.  See the slam down at the purple box, THEN we got our 10 day run higher , drawing  in the longs before the final sell off to an ICL.

You might see that today, since SILVER already broke to new lows,  a spike down & reversal in GOLD.   THAT could be a buy for the traders that can watch their positions without my help today.   A spike below $1190 and recovery may be the real DCL.   IF GOLD just sells off and we do not get a  reversal?  That  means we were wise not to mess with this sloppy weak looking set up so far.

What am I looking at? What is interesting besides ENergy & Solars to me?

I am trying to spend today looking in other areas, there are so many interesting sectors.  I have seen great moves in BIOTECH,  ( SEE CRMD, EYES, ZIOP, etc etc ) I want to examine more charts there.    Solars are moving nicely ( See JKS, TSL, TAN, YGE, SOL, VSLR (thx Maria for that one).  Uraniums are moving again.  Look at URG, then see URZ  & UEC   ,  they may have follow through today.   I am still mostly in ENERGY ,  yes I am a little bored waiting for REXX, SFY, etc to break higher,  but I was bored with SOL , YGE, JKS too…and they took off.   For now I am still  waiting ,   they should break  higher   (or stop acting correctly)  soon enough.

I will have more in the weekend report,  but For those that like to look at interesting  charts,  I have been looking at a variety of charts and  really like GLNG, RGLS, RNDY, BITA, AMBA, etc  (  Looking at a 1 yr chart,  I think BEAT may break out soon too,  as a Biotech medical play) 

Best wishes on all your trades and have a great Friday & Weekend!

~Alex