Tuesday October 22nd
Hi everyone, I am pretty sick today, woke up with chills and body aches, so I’m going to just try to throw together a quick review and go back to bed. The overall message is that things continue to look good in most sectors.
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SPX – Looks like day 13 with a new high on day 11. The General Markets are holding up, but just not rocketing up higher.
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THE SOXX is weak, but it was able to hold up at the 50sma. The semis are just giving us sideways choppiness.
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WTIC – Oil moved higher, but is very choppy too.
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THE USD has been quite strong. I thought that we’d be due for a dcl when it tagged the 200sma and drop lower, but it just paused and broke above it. Even with this strength Gold has not been hindered in its’climb higher.
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GOLD popped and dropped on day 7, but it is strong. We could see the peak at anytime, but to give us a Left Translated daily cycle, it just needs to peak 1/2 way through, so a day 11 of 22 or 13 of 26, etc. Gold has been strong.
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SILVER broke out to a new high.
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GDX has been rallying out of the dcl too, and broke that uptrend that I had been following. The miners are doing well.
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Nothing has changed since the weekend report, except for possibly what we are seeing with Crypto stocks. I’ll touch on that below. Enjoy your Tuesday trading.
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~ALEX
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BITCOIN dropped on Monday, so I was expecting Crypto stocks to fall, but several actually put in nice gains…
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BITCOIN – I found a candle similar to Mondays and noticed that it didn’t cause a big drop from there, so Bitcoin can continue higher.
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BITCOIN does not have a significant breakout yet, so it is reacting to resistance.
CIFR -and a few other crypto stocks ignored Bitcoins drop, and that could be important, since lately they have dopped twice as much whenever Bitcoin dipped.
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WULF was up over 17% at one point.
