Wednesday Aug 23

SPX – We are well within the timing for a dcl, and the swing low on Tuesday gives a valid buy, with a stop under the low of Monday.

If we get the dcl in place here, will the General Markets now just recover and take off to new highs?

 We still have not seen a clear ICL and this drop doesn’t qualify as one either.  That has me wondering if this swing low will just roll over, like the last one, into a new low  (ICL).  That said, you should use a stop and raise it as price goes higher if you  take the trade.  We do have a swing low within the timing for a dcl.

USD –  The USD is still meandering sideways and has peaked on day 10 so far. This is where most left translated daily cycles would top, so this is an important area for the USD.

WTIC – The parameters for Oil have not changed from prior reports. The inventory report is released on Wednesdays, so we may see a directional move today. Today could be day 4.

NATGAS – No changed from the report yesterday here either. Parameters have not be broken and the set up remains bullish unless the lows are taken out.  Depending on where you went long, you could place Stops under the Blue line or Magenta lines. So far, Natgas has been a choppy difficult trade.

GOLD #1– No big change in Gold either, but we can discuss it…

GOLD #2 – Gold remains bullish to me and as I have mentioned before, even if this is all part of the 1st daily cycle, we are now on day 32 Wednesday. A big drop into a dcl would be fairly limited time-wise.  Yes, it could drop to the 50sma, but would likely rebound very quickly at the start of the next daily cycle.  Please read the chart, and it should say 28-34 days on average.

GOLD #3 –  I’m still leaning toward a day 21 dcl, and that would make Wednesday day 11.  Are we building energy to break higher, while others are bored, selling , and even shorting Gold,  thinking this is weak?  I have seen many shorting Gold here in other blogs, I’d love to see a surprise to the upside.

Nothing changed from these 3 charts for the Miners yesterday. We are waiting for some upside action.

GDXJ –

GDX –

GDX –

I have posted a great number of Miners that are acting bullishly, and this encourages me to maintain my bullish view. Commodities like copper stocks and other metals have been doing well too. Enjoy your Wednesday trading!

~ALEX

NAK – The last chart that I put into a report for NAK was on July 19th.  It broke out from a downtrend and I added then. I would also add if it moved above the 50sma, and it did last week, so I mentioned in the comments section that I was adding.

NAK – NAK broke the 50sma and back tested on Monday, now it looks like it will tag the 200sma.  Can it break through in 1 try? Yesterdays increased volume indicates that it might be able to, especially if NAK gets going.  It is not overbought and the RSI acted correctly.

GSV – This was in yesterdays report as a flat base that did NOT break down when Gold sold off $10 last Monday and $10 last Tuesday.  THAT means that the lows could be in place and it is an easy buy with a tight semi-stop.  Notice what I pointed out on the RSI, will it break out?

GSV – The RSI broke the 50% area yesterday, so I added to my position.  I envision a run to the 200sma, and then it might stall.

KLDX – This was in yesterdays report, it remains a valid set up, and ALO  ( TGD) was a set up in yesterdays report, and it actually dropped on Tuesday to the lows of its base. SSRM, PAAS, and others were just a few ideas to keep your eyes on, and accumulate on the dips or break outs if you wish.

SING –  A VERY HIGH RISK TRADE. (  I should give Tammy credit for pointing this company out- Thx Tammy) .  This one has a story behind it, assisting in payments of the Marijuana Sector using cryptocurrency.  It can be taken as a short term trade by traders or a long term ‘buy & hold and see what happens’, or put on a watch list to see if it progresses going forward. I bought a small position on the recent dip to the 10 sma.  It fell to 5 cents and I got it around 6 cents ( It was 20,000 shares for about $1000.00)  It moves up (and down ) 20% in a day.  Tuesday it was up another 25%.

This set up on SING is a bullish set up, it is oversold, and that is why I took that little dip, but I do not recommend this trade for everyone.    It was a 6 cent stock and has been down here basing out for a long time.  Do some due diligence and read up on it and decide for yourself what you want to do. Maybe it goes on a watch list and you can monitor progress or lack of progress as time goes on.