Archive for month: April, 2019
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This is a Fed Week, and the Markets tend to hate two things that the F.O.M.C Meetings can bring to the table. 1. Surprises and 2. Unexpected changes. I really don’t think that we are due for either of those, so let’s just review the markets as they stand, heading into FED WEDNESDAY .
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This weekend may be a bit more relaxing for those interested in the Precious Metals Sector, because as discussed in recent reports, some of the ideas presented here do still seem to be playing out. I will discuss how to take advantage of current set up, without losing too much sleep. 🙂
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Today I really want to Focus on the precious metals, so after a very brief review of a few other sectors, we’ll get right to it…
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NASDAQ – Nothing changed with the General Markets since yesterdays report.
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Where are we in the various sectors of the Markets? …
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Even though only 1 day passed since the weekend report, we do have a lot to cover, so let’s get right into it…
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To the joy of many readers here, we are finally getting some of the sale prices on Miners that we have been expecting for a while now. Let’s take a look at our weekend review and see how things stand after this 4 day trading week…
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SPX WEEKLY – We are coming due for a pull back cycle-wise. In the past, we have seen pull backs drop to the 50 week ma, as shown here.
1. It could happen at the next drop to a dcl, or
2. It may happen after a small drop to a dcl and then a break to news highs that rolls over, as shown here.
Let’s discuss this a bit further…
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Friday is a holiday and the markets are closed, so today is the last trading day of the week. Earlier this week I had mentioned cycle counts and a possible bearish rising wedge, so ‘tighten stops and stay alert’ was the thought for the General Markets at that time, but now? It may be time to consider ‘Safety First’. Let me explain…
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XBI #1 – This was the XBI ( A Biotech ETF) Tuesday. It landed on the 50sma and also had the support of the 200sma below it.
XBI #2 – This was the XBI on Wednesday, the very next day. Look at that volume and how easily it sliced right through both moving averages. If that is some kind of warning of what might be coming in the rest of the markets, we better be listening.
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NASDAQ #1 – The NASDAQ has been climbing along the top of that 8 ema ( or 10sma) Bullishly.
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The General Markets should have a little more upside, and if you are willing to ride the dips and just hold current positions, you can use a reasonable stop. If you hate losing any of your gains, it might be wise to tighten stops and keep an eye on open positions. The markets have been running strong and pull backs have been fairly shallow, but it is looking like we could be due for another pull back soon. Let’s review what we have…
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SPX – The bearish rising wedge has been moving closer to the Apex. This is at least shorter term bearish. It doesn’t call for a crash, but it does signal a possible pull back may be coming soon, and…
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