April 30th – One Down, One To Go?
SPX – On day 26, we are watching for this daily cycle to ‘peak’. It could happen at the 200sma or 6.18% fib as the end of a 5th wave, and then we’ll see a drop to the dcl. That dcl should become a buy opportunity.
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WTIC – As suspected, OIL seems to have bottomed on day 52 and was actually up 22% on an Oil Inventory Report Day. This is only day 6…
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XOP and OIL / Energy Stocks have been very bullish after moving out of a base. That continued Wednesday. Many individual Stocks are at or breaking their 50 sma after a base too. Some from our list were up BIG, I’ll discuss that below.
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FED WEDNESDAY: RATES UNCHANGED
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GOLD RAN UP TO THE DAYS HIGHS, SILVER RAN UP & PULLED BACK A BIT. Miners closed at the highs...
GOLD – It looks like
1. GOLD is breaking a trend line and the 10sma is curling down.
2. We have our first red bar on the histogram( Pink circle),
3. The MACD is crossing down.
This is not with Gold selling off, it is just going sideways. It seems that GOLD is still trying to put in a dcl. We do still have that Full Moon next week and this may dip down a bit more, but so far Miners remain very bullish.
SILVER is pinched between the 20 sma & 50 sma. I usually view this as bullish and it often breaks out higher. Silver rallied and dropped, because it tagged that 50 sma. It needs to break out to get the fireworks really going, but Silver Miners were having a good day anyway.
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SILVER SAME CHART: We have run out of room. This should now break out higher or lower immediately. Silver is in the APEX of that squeeze play. If it breaks down, it will be a fake break down and rally back through that 50sma.
GDX -What can we say about Miners except that they are ignoring any supposed weakness in GOLD & SILVER. This keeps reversing off of the 10sma, and we are there now. If…
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If Gold and Silver break down for a quick drop into a dcl, Miners may dip a little too. THAT would be a buy, because we are finally later in the first daily cycle. Gold & Silver stocks have been acting bullishly though, so if Silver just breaks higher, these should run like Cheetahs. After we had the Rail Road Tracks in GDX & GDXJ, I have been saying, “You want to own some Miners. ” I have actually discussed many Miners over the past several weeks, and will review or discuss a few more below. 
Enjoy your Thursday trading.
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~ALEX
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Yesterday I mentioned with CDE – Last Thursday CDE dropped sharply through the 50sma after releasing earnings. It then stabilized and on Tuesday it pushed higher by 10% and erased 1/2 of that down day. THIS IS A BUY if it stays above that 50sma ( or just buy it here). It is now ignoring the earnings drop.
Wednesday Morning had CDE breaking above that 50sma. Again, this is a buy.
CDE closed up 7.41%. It can run much higher.
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You may recall that in My Big Picture Chart on April 9 I showed CDE ‘s potential if the sector keeps running bullishly. I do own CDE.
I have posted a different bullish chart of HL for 3 days now, holding support.
HL started to run higher Wednesday morning, so I posted this chart in the live area under the daily report. I also added to my position.
HL closed up 10%. Many Gold & Silver stocks look very Bullish.
AG APRIL 6 – AG was a buy here at the $6 area. It was an inverse H&S.
AG APRIL 9 – I also showed the potential if Silver stocks start running. Ag was now at $7.
AG APRIL 9 – Big potential as seen here.
AG NOW APRIL 29 – Ag is now at $8.63 and was up another 6%. I can see this running to the 200sma, breaking out, and running to prior highs too.
AXU is a buy. It has increased volume as it pushes away from multiple areas of support too.
GPL looks like a large bullish triangle , above the 50 sma and it could be ready to break out. I own GPL and …
GPL WEEKLY : GPL may be preparing to break above a long term down trend line, so the potential here is extremely good too.
IAG, AUY, KGC, and many others have made strong runs and are simply dropping & recovering day after day. This is very bullish action.
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GORO, VGZ, and several other Gold Stocks broke higher after riding the 50 sma for days.
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MUX is flagging under a resistance area, it can be bought in this area too. It is ABOVE the 50 sma and is a Bullish set up. This should eventually run to $2.00 and that is a 100% gain. Many Miners can be bought for a medium or even longer term Buy & Hold.
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So far the Miners are reacting quite Bullish after the fed mtg. ALSO SEE URANIUM. UUUU, URG, UEC, CCJ, NXE – they are just running bullishly higher too.
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UUUU & URG are running the 10sma perfectly.
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You may also want to look at commodities: MTDR (+58%) CSTM ( up 25%) CLF (+12%), SID ( up +21%) AA, CENX, X, CRC (+15%), BOOM (+13%) etc.
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CLF – So look at the bases. if you see them holding up along the 10sma, they may be a buy. breaking above the 50 sma can lso be a buy. This sector is popping too.
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OIL was up 22%, so many of the Energy Stocks just continued to pop…
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PVAC – Speaking of POP! Up 80% breaking through the 50sma. I love these long bases.
APA also popped through that 50 sma and was up another 22%. This sector is one of those ones that defies logic. Oil crashed lower & lower, but these bottomed & doubled and tripled. Oil is only on day 6, so these can run even higher ( 200sma $21).
MRO was recommended here breaking above the 10sma. I owned it, but sold it for gains. It was up 17% Thursday, also breaking right through that 50sma. SO …
AROC is another long base, so when I saw PVAC , APE, MRO , and a few others ripping higher through the 50sma, I grabbed this as it broke that 50sma. It does have a nice base and could run swiftly too.
BTE – I also bought BTE due to the volume in the base.
I bought & sold my HLX– I liked the base & inverse H&S , but I got bored waiting for it to push higher. Well, Wednesday it popped 38% without me 🙁 I love these bases.
Yesterday I said about ENPH: It popped above the 50 sma and pulled back 50 cents from here to close at $43. This has been a very bullish stock that we’ve traded in the past, so this can be a buy. It got caught up in the market sell off, but it should run to the $60 area. You can place a stop at the 50sma.
ENPH was up another 14%, probably on its way to $60.
We also discussed the sectors below, and they continued higher out of their bases too. I am not investing in this area, I think that MINERS / URANIUM & ENERGY STOCKS have a lot of potential. I also own or am trading WTI, DVAX, TLRY, CGC, CWBHF, etc.
FROM YESTERDAYS REPORT: AAL is a descending wedge with high volume Pops and now it broke out on Tuesday, as the general markets sold off? This looks like a bullish base…
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DAL (Delta Airlines) has a high volume pop out of a base, also on a day when the general markets gapped up and sold off.
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CCL (Carnival Corp) – Keeps doubling off of the lows. The first one was likely ‘short covering’ and then it sold off ah=gain with capitulation. Now it has gone from roughly $8 to $15and is popping with volume again (on a day when the markets sold off).
