January 10th Weekend Review
With the Bulls in charge, this report will basically be a review.
.
THE SPX broke out to new all-time highs this week, and remains bullish in this move out of the ICL. The MACD isn’t turning up yet, but that is not a sell signal, it is something to keep an eye on in the 2nd and 3rd daily cycles. Volume was good.
.
The SOX has been strong and is also at new highs. This MACD looks proper.
.
THE NASDAQ -finally pushed higher and broke from that triangle that I have been pointing out and volume was good. Buyers should continue to step in and maybe we can get that MACD to cross up, but so far the MACD drooped as price chopped sideways.
.
THE IWM ETF shot up 4.6% to new highs. This looks really good because the MACD has crossed upward and price looks like a breakout and back test on the half cycle low. The small caps look and are acting bullishly.
.
WTIC – Oil finally broke above that 50sma, but it then sold off, so we have a ‘pop & drop’ for now. We saw a false breakout in September (green circle), so we’ll see if Oil can gain traction next week or not. Oil DOES look bullish with the MACD rising and the RSI moved to 54 this week.
.
WTIC WEEKLY – When Oil broke above the 50sma and sold off again on the daily chart, you can see that it only ‘tagged’ the weekly 20 ema resistance, so that may be why it pulled back, but this is a bullish set up so we could still see strength in Oil next week. THE RISK HERE IS ‘How would any surprises with what is happening in Venezuela and the Middle East affect Oil prices. You may see a sudden surge higher, or you could see a sharp selloff, since we have been seeing both throughout all of 2025.
.
Guess what? The USD has a higher low and it WAS able to break above the 200sma and the 50sma.
Do you remember when I was pointing out the L.T. and L.T. dailies, and then we had the R.T. one? That looked to signal a change. Then we would look for a higher low and strength. We have the higher low now, we’ll see if it has the strength. Now take a look at The RSI, The MACD, and the weekly chart…
.
USD WEEKLY – The USD broke above the 10 week ma last week. After selling off in 2025, it now has a higher low in place and the weekly MACD is bullishly aligned.
.
Note: The USD was up last week and breaking the 50sma and 200sma, and GOLD & SILVER WERE UP TOO.
..
GOLD was up 4% and headed for new highs. This should be the 3rd daily cycle, but look at how the last daily cycle ran right before the ICL. That looked like the parabolic run to a top, but we haven’t seen follow through selling or weakness. If we are still in a parabolic move, this can run strong.
.
#1. SILVER had a bearish engulfing candle after a strong run higher, but it didn’t see follow through selling either. I’m not sure if that was due to the political uncertainties or not, but Silver tried to make new highs last week. It is also still riding support. This SHOULD BE the 3rd daily cycle, as seen with the boxes.
.
SILVER could be said to be trying to form a triangle or pennant in this 3rd daily cycle. They usually are continuation consolidations, but they also can roll over and fail as a double top. This week Miners actually joined in with the metals (they had been ignoring the moves), so that leans toward the bullish side.
.
The SILVER WEEKLY Chart – Shows Silver with that huge up week 2 weeks ago. This definitely looked parabolic and the Silver miners only chopped sideways with that move, but here we are again, back up at the highs. It looks like Silver could possibly run to a new high next week in the 3rd daily cycle.
.
GDX – Miners were up, but they haven’t been quite as zealous looking as the metals. This is choppy, the MACD seems weak, but the good news is that they made new highs! And the Weekly chart looks even better…
.
We see the GDX had a very strong run straight up in July – October. It was up roughly 10 plus weeks straight! The good news: It is at new all-time highs and is making another run, but it isn’t as straight up, almost like there is selling on the way up this time compared to strong steady buying July to Oct. It has been a little choppier, but bullish surprises remain to the upside.
.
It was a good week for the general markets and precious metals and yes, the Bulls have remained in control with surprises to the upside! Many of our stock picks made good gains last week Enjoy your weekend everyone! 🙂
.
~ALEX
.
FROM FRIDAY
BITCOIN WAS ON DAY 48 and pulling back again, but at least it is holding support and above the uptrend line. Bitcoin DID NOT IMPROVE AT ALL ON FRIDAY.
.
BITCOIN WEEKLY:
I thought that BITCOIN was actually going to run last week, but it did a ‘pop and drop’ and that left the weekly chart still looking like a possible bear flag. And we are running late in this daily cycle.
