April 30

Hey all, yesterday midday I came down with a fever of 102.5, chills, rapid heart rate, etc. I have no idea what it is, but it sure didn’t feel like the regular flu.  I slept from 12 to 8 p.m. and I’m still feeling week and sick today. Since we didn’t see any big changes yesterday, I’m just going to review 5 charts and go back to bed. Hopefully I feel better later today. Thanks.

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SPX – Price marches onward and upward, but we do have some resistance coming up. That could give is a ‘crawl’ or dip for a half cycle pause. Each day higher gives it more of a chance to become R.T.

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GOLD is chopping sideways / lower and it gains and loses as much as $50/ day with this chop, but it MIGHT be a half cycle dip. That 20 ema is at 3240 currently and it could act as support.

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GOLD AND SILVER  are dropping today, but Gold is still above the 20 ema, Silver just lost the 50sma with this move (So far). It can bounce back.

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SILVER is still above the 50sma and has become choppy now too.

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GDX is at a support level, but if Gold drops lower it would seem that GDX may break lower. It also does resemble a bearflag at this point with a MACD cross.  Its not bearish, but breaking down here might see price dip to the 50sma.

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Not much changed from yesterdays report, so you could also go back a re-read it. Sometimes you can pick up on something that you may have missed. Have a great day and happy trading.

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~ALEX

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BITCOIN – In October and November we had a similar move with Bitcoin.  One broke out higher, the other broke down lower, so this could go either way, That said, as mentioned in yesterdays report, Bitcoin is becoming more and more bullish with time on both the weekly and now the daily charts.