Friday April 12th

/in /by

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SOXX – On Wednesday we saw the markets drop for 1 day after the Inflation numbers showed an increase, but on Thursday it was as though it never happened. Surprises to the upside in a bull market continued, despite the news. We are still somewhat early in the 3rd daily cycle, so we’ll see whether or not it can push up and make new highs again. A break of that downtrend line is considered bullish.

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THE SPX also dipped, reversed, and closed higher. It has also formed a downtrend line, so if Friday is an ‘up’ day, that should break the downtrend.

 

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WTIC – Oil is on day 46 and it should be dipping down into a dcl.

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THE USD surged with the hot CCI numbers, and paused with Thursdays Cooler PPI number.

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FRIDAY MORNING:

Take a look at GOLD, SILVER, and THE USD –  They are all up together this morning, and Gold & Silver are up quite a bit.

GOLD also dipped with the release of the hot CPI Numbers on Wednesday, but the Bullish surprise to the upside saw it pushed higher on Thursday. Looking at this chart a year from now, you would never know that Wednesday was anything but a normal 1 day dip. Today Gold is continuing even higher.

GOLD WEEKLY:  I just wanted to show the weekly chart since the break out too. Straight up! This was why it was recommended here that no matter how much you want to sell and lock it in, we were VERY EARLY on our entries, and this was a break to new all time highs.

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SILVER – Continues to attempt to make that run to $30. This is only day 11 and it is already at $29. When it gets to $30, it may just start to chop and churn sideways a little more until it forms a dcl. That next daily cycle could be explosive. If it breaks $30 & keeps running in this daily cycle? Silver should be an explosive upside move.

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GDX dropped with the CPI Numbers on Wednesday, but it landed on the 10sma and reversed higher as pointed out in yesterdays report. We then saw follow through on Thursday and Gold is up today, so this can continue higher on Friday too. Friday is day 16.

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IAG has chopped sideways , but it looks like a bullish. With Gold up this morning, we could see a break & continuation higher.

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THM broke out from a long choppy consolidation too.

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The Bulls are running on Friday, enjoy your trading & that growing basket of Money 🙂

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~ALEX

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BITCOIN is on day 23 and continues to consolidate recent gains. The miners are consolidating.