6-30 Weekend Report- Chartfreak Lions

 I'm sorry, but my wife talked me into the picture above for the weekend report.   I actually felt right at home on my visit to the Biltmore in Asheville North Carolina.  Why? Well, they had Chartfreak Lions everywhere, and also Miners began breaking out Friday morning, easing any concerns that something ugly would happen in Gold while I was away.  🙂   Why did I like what I saw Friday, and what does that move in GDX & GDXJ mean ( if anything?).  Let's discuss the market action from this past week and what I m expecting as a result.  I also want to mention why I chose the LION as my logo when I started Chartfreak...

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Friday Snapshot

This is a snap shot of 'things'  for Friday

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July 28th- No, Not Icicles – ICL’s

With every passing day, we are 1 day closer to one of the best trade opportunities that the Precious Metals Markets offers, and they only occur twice a year. Let's discuss the various market sectors and then we'll look at Gold, Silver, and the Miners ...

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Wednesday June 27th

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Tuesday June 26th – Market Drops Monday

 

NASDAQ - June 18th, I showed the bearish rising wedge forming on the SPX & NASDAQ . Read the chart.

NASDAQ - After 4 drops & reversals higher in a row, we had a POP to new highs.  Deceptively strong looking, but the WEDGE was still in tact, so I wrote that  "we would see if this bearish rising wedge would break out higher or down"  (  They almost always drop down).

 

THE WEEKEND REPORT SHOWED THIS WEDGE AGAIN.  I SEE A HIGH VOLUME DROP FRIDAY THAT WAS LIKELY POINTING TO A COMING  TECH DROP.

 

NASDAQ - Monday at 10 in the morning , this is how Monday started...

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Friday June 22

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June 21st – Golden Plunge

We have been waiting for a bit of a Golden Plunge for a while, and it is not something to fear if it happens. We are in the timing for an ICL, so the next drop could be he final drop before a strong rally begins. Let's review the various Market Sectors and discuss Gold expectations again...

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Wednesday June 20th

 

NASDAQ - As the markets try to pull back, it looks like buyers are stepping in and propping it up a bit.  We have seen 4 reversals in a row during the selling in NASDAQ.

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Tuesday June 19th

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