Thar She Blows Matey!!!

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Thar she blows is right!

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GOLD - We have been expecting this kind of 'recognition day ' for a while,  so Let's discuss this BURST higher in Gold and Miners...

GOLD climbed  $28 on Thursday, and it was pretty much steady and straight up.

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The Warning Signs Were There

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(Below is a snippet of Alex’s work from the last week and the major US Indexes)

We all saw the major decline in the US Indexes and equities on October 10th. Were you prepared or caught off guard?

From Thursday October 4th:

NASDAQ –  Each morning I wake up and Futures are a lot higher, giving the idea of another bullish open, but The NASDAQ remains choppy really. All of September to now was sideways chop.

 

SPX –  The SPX is pushing along the upper B.B. Band and is also sideways and choppy lately.  The MACD is dropping.


And…
From October 10th (before the market opened)

JUST A HEADS UP : NASDAQ – I did mention the need for a stop after going long though, in case it is just a back test, rolls over  and something uglier develops like a deeper ICL.

So now what do you do? Remain calm, let the dust settle and wait for optimal entries.  Have you taken a look at precious metals or commodities?   https://chartfreak.com/2018/10/a-golden-bull/

Please consider a membership and you’ll find more great charts and opportunities to trade.

Chart Freak Membership

Alex has been successfully writing a daily newsletter service for nearly four years now and is considered one of the best traders of precious metals miners, energy/uranium stocks, and biotechs.   This is your opportunity to join his service as a member and follow along as we enter the next bullish gold Cycle higher.

If you would like to find out more about the service or sign up, please click the buy option for more details.

Thursday – Hanging On

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I have been mentioning that the markets were due for a drop into an ICL, and I used this chart to show the potential downside -

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NASDAQ AUGUST -  I thought that we might run to the top and then drop into an ICL just like the drops we saw in the beginning of 2018, and ...

 

This chart looks to be a lot of what I was expecting, but I wouldn't just jump in here.  The NASDAQ broke & closed below the 200sma. Even though this could be a shake out, there is no need to try to catch this falling knife. We'll monitor it along the way.

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October 10th – Nothing New Here

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We really didn't see a lot of changes take place that were not expected on Tuesday.  As the markets pull back, things do get choppy and sloppy.  At this point,  let's  do a market review and then discuss a few possible trade ideas...

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A Golden Bull?

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Below is a snippet of Alex’s work from the past few days and his coverage of Gold.

 

(From Saturday)

2 BULLISH SIGNS IN GOLD LAST WEEK

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1. The USD was higher, GOLD, SILVER  & MINERS were not phased by it.

2. Remember that last week was known as the Chinese Golden Week, a week long holiday in China where Gold has sold off sharply ( $40 – $60) over the past few years.

Well, GOLD closed Higher this Golden Week, with the USD rising.

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GOLD  WEEKLY  –  That is a nice weekly reversal higher , despite the head winds mentioned above.

 

GOLD  WEEKLY  – We could see buying next week that pushes Gold above its down trend line.  Last week I mentioned that on Chinese Golden Week, the losses of $40 – $60 were often regained in 2 days the following week, when the holiday ended.  The GOLDEN WEEK holiday  has now ended with no loss.

 

GOLD DAILY LAST WEEK

SILVER  WEEKLY  – Silver still holds above the shake out

 

GDX  WEEKLY  – Miners held above their shake out

 

 

(MEANWHILE ON MONDAY…)

 

What was surprising about Monday?  It was this- Gold dropped over $17 and the Miners fought their way back to green…

 

GDX:GLD –  I discussed the bullishness when Miners lead Gold,  so this is how Golds drop & Miners POP affected the GDX:GLD ratio. Bullish.

 

Chart Freak Membership

Alex has been successfully writing a daily newsletter service for nearly four years now and is considered one of the best traders of precious metals miners, energy/uranium stocks, and biotechs.   This is your opportunity to join his service as a member and follow along as we enter the next bullish gold Cycle higher.

If you would like to find out more about the service or sign up, please click the buy option for more details.

What A Nice Surprise

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What was surprising about Monday?  It was this- Gold dropped over $17 and the Miners fought their way back to green...

 

GDX:GLD -  I discussed the bullishness when Miners lead Gold,  so this is how Golds drop & Miners POP affected the GDX:GLD ratio. Bullish.

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Oct 6th – Weekend Market Review

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SPX WEEKLY #1 - I have been expecting a dip into a DCL, and likely an ICL. Last week saw the SPX drop how deep will it be?  Please read  chart #1...

And now Chart #2

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Friday October 5th

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It is Friday, the last trading day of the week, so let's just do a quick review...

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SPX - Yesterday using this chart , I pointed out that the SPX was running up along the top of the B.B. with divergence and due for a daily cycle low. The Markets dropped yesterday.

QQQ - The Markets began to sell off .  We Also discussed that the General Markets were showing divergence in the RSI & MACD, Due for a dip cycle-wise, and showing a much higher number of new lows than new highs at the top here. A dip is due and seems to be starting here...

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Thursday Trading

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After a quick review of the markets, we'll look at some of the stock picks in recent reports and a few new thoughts...

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Oct 3rd – What’s That Guy So Happy About?

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Maybe he is Long Gold too  🙂

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GOLD - This was a nice break higher and this took place with the USD moving higher an also on the infamous ' Chinese Golden Week'.  It was a nice on day pop and I'd like to see some follow through this week.

 

GDX - Our last report already discussed the GDX : GOLD Ratio, and showed that the Miners have been leading Gold.  They kept up with Gold on Tuesday with a nice push higher on strong volume.  Since this looks like GDX is coming out of a 1/2 cycle low, it should be able to break right through that 50sma and back test it on a dcl.  We'll see.

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