April 26th -Friday

Due to an ‘Update’ on the website, I’ve been unable to put a report together this morning.  I am just going to quickly upload a few charts and try to get something out  around the timing of the market opening.

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 Basically,  nothing is different in my analysis of each sector, so I will just quickly review changes or progress that may matter.

 

USD DAILY – This was supposed to be in yesterdays report, because the break out by the USD did concern some when it comes to Gold.  Usually when the USD pops,  Gold drops,  so is this concerning?

 

USD DAILY –  I actually mentioned this before.  Picture the USD running here, and a GOLD ICL coming in near that timing too.  They don’t have to correlate day to day, but eventually we could see the USD top and GOLD Bottom in the bigger picture.

 

 

GOLD DAILY – Yesterday Gold moved above the 10sma, but dropped lower after back testing the lower triangle floor. I would say that this is a resistance zone, and if GOLD get’s back above it, we have a dcl  ( or ICL).  So…

 

In other words,  if it becomes a confirmed daily cycle low in Gold, you can buy it with a stop under the lows hoping for an ICL.   If we are entering a final daily cycle- it will roll over as Left Translated, so it will likely peak around day 7-11 or so.  A break above a down trend line is what confirms that we have entered a new Intermediate Cycle  (a mild ICL is in place).  You can see that the 50sma is at that trend line,  so a break above the 50sma should give us confirmation  that an ICL is in place.

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GDX –  GDX was rejected at the 8 ema  ( or 10 sma) so far.

 

GDXJ –  GDXJ was rejected at the 8 ema / 10sma  and the 200 sma  (so far).

 

I AM WATCHING  SILVER & SILVER STOCKS FOR CLUES,  WE WOULD LIKE TO SEE THEM LEAD THE WAY .

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Nothing has changed since yesterdays observations were posted.   With Precious Metals, we are still  ‘not exactly there yet’,  but as things progress we are getting closer.   I just want to repeat that when an ICL is in place,  we will get 2 or 3 entire daily cycles that should be Bullish,  and that is 2 – 3 months at least.  Also, if we get the strong move higher that I have been expecting,  gains will be big,  and missing day 1 or day 2 or day 3 at the lows is not going to kill your chances of making excellent gains.    We can see 100% gains in some of these Miners.   That said,  for some here that are just not day traders,  patience is still the best trade and you will still make great gains when the move starts to take hold with clarity.

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Sorry about the late report, technical difficulties prevailed.

Enjoy your Friday & weekend,  I will have a few ideas below too.

 

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~ALEX

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BKX –   BANKS are bullishly set up and I see bullishness in charts of JPM, BAC, GS, etc too,  so this is the chart of BKX  breaking out yesterday ,  and…

 

BAC–  Looking at some individual charts,  you’ll see this . I didn’t love that volume, because it is 1/2 of what we had last week,  so I did not take this trade yet. A break out needs strong volume to sustain, in my experience.  If it is weak volume,  I almost always see that break out drop back.

 

KEG –  Speaking of ‘dropping back’…is this a gift?   When it had a huge POP last week, I was wishing that I had entered the trade at the 50sma.  This now looks like drop to gap fill and maybe tag that 50sma.  Also…

 

KEG – This could back test the down trend break out.  A reversal would be a BUY.

 

 

ACRX  –  I did a small side trade and bought and sold this,  and then I wished I didn’t sell it.  I didn’t recommend it because it is Pharma/ Biotech and that sector had that Big Drop.   Now this actually looks ready to break out with increasing volume, and so do a few others.   I think that it is a buy actually.

 

 

ZIOP  –  ZIOP may be ready too and this can be considered a buy,  but you’ll see that I drew it as though the consolidation could keep sliding to the 50sma.  Why?  Because  THAT idea is what is keeping  me from buying it,  just in case I would be early and have to ride this out for a week or so.  If, however, it breaks out now?  That would be the buy, and hopefully it breaks out and runs like it did in February & March.  That was a nice run!

 

HEXO & CGC look good for the Bigger MJ Plays , I still own HEXO.

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BITCOIN LIVE-    We had a solid price drop and then it stabilized.  This has happened before and it recovered.   The big question is:  Bear flag forming this time or a base like prior drops.  Only time will tell.