Friday May 2 – That Wall of Worry
Hey All,
I read the comments in yesterdays report, it was so encouraging. To all that made such kind comments and well wishing, it really gave me a boost to hear from you. Thank You! I’m sorry that I couldn’t reply sooner, it was a rough night last night and day today.
It turned out I was septic and have been admitted to the hospital. I really got sick again yesterday and last night. So today I have had so many tests by so many different physicians (Urologist, infectious disease, etc) blood tests, chest scans, abdominal scans, Kidney check, blood work, blood work, and more blood work, etc. etc. They say that I will be here for another 2 or 3 days, because they have to use iv antibiotics and they still have to narrow down which specific bacteria to fight with which antibiotic. That requires lab cultures and heavy doses of 2 different IV Antibiotics not oral, SO… the weekend report will be delayed likely. However, this has been a good week for the general markets so those weekly charts should look good!!
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NAZ DAY 18 -The markets are likely becoming R.T., and that should indicate that buyers are coming back, shorts are giving up, and an ICL is in place. Buy & Hold has been working. A pause at the 200and dip to the 50 sma would be a buy the half cycle low opportunity.
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SPX – 8 days up? What should this weekly chart look like? Very good.
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GOLD is dipping, Silver lost the 50sma. Gold may bounce next week, but I don’t think that it’ll make new highs, so it would then be L.T. (Sell some at the bounce if you wish to try to sell and buy lower at an ICL).
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GDX still looks like Gold, so it may bounce next week, but it may not get far. Watch the volume on the bounce. If it is strong, hold on, if it gets weak, it may be a sell at the half cycle low.
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BITCOIN has been trying to power through resistance, and this does look nice. If I count the days out of the low (Knowing that we look for 30 days) this would be 25 days out of the low. We could get a dip to the 200sma, but so far this looks good longer term.
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RIOT – The volume is increasing in several Crypto stocks and they are trying to catch up to Bitcoins price action. The General markets moving higher along with Bitcoin no doubt helps.
Thank you all for your support, it’s much appreciated!
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