Friday July 11th

It looks like the release of the minutes on Wednesday and the release of the jobless claims on Thursday did not have any bad effect on the markets, since they continued higher on both days, and that is while we are later in a 2nd daily cycle. The Bulls are still running.

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SPX – We now have a day 31 peak for the markets, another new all-time high! Its quite R.T., but we would expect a pull back to start sometime soon, so it could be next week. It’s likely to be somewhat mild.

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Yesterday I drew the upper USD trendline from the peaks, as seen here, so the USD can run to the upper line here , or…

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THE USD (Wednesday)

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THE USD (Thursday) – Tonight I drew the trendline a bit tighter and it seems to line up with this resistance at the 20ema. I must say that the macd is rather strong as the USD made a new low, but this was a failed daily cycle, so I would expect weakness. Maybe the USD just runs to the blue 50sma and chops around as Gold chops around too. We’ll see.

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As a late night sidenote: Gold, Silver, and the USD are all able to rise up together tonight, as I write.

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GOLD started to push higher again after riding down that magenta trendline. We really need some strength or follow through here to get through the 50sma and make a new daily cycle higher. That would be $3330 (50sma and 20 ema) Conclusion: Gold has been choppy, and honestly it was expected.

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SILVER has been choppy, but its drifting sideways, so it’s holding up better than Gold. Silver has a day 8 peak , but it does look like it wants to break out, and some Silver stocks are at their highs, so this looks promising.

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GDX is choppy, basically because it has Gold stocks and Gold is closer to the lows than Silver.  If Gold rallies, I expect the GDX to push higher along with it. That said, Silver is near the highs, so I would expect SILJ to be near the highs, and Silver stocks near the highs. So…

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SILJ – So SILJ is closer to the highs, and…

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ASM broke out to new highs (this has been one of my favorites).

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EXK crashed on Tuesday but is now back at new highs on Wednesday and Thursday. So the Silver stocks are outperforming and breaking to new highs, possibly indicating that Silver will.

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ENERGY was discussed as set up bullishly and breaking out. I mentioned these names:

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WATT was up 10% Wednesday and now roughly 20% Thursday. I like the sector.

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THIS WAS IN MY LAST REPORT AS A BUY:

FCEL had some very strong moves in May and June and now it is landing right at the 50sma, so this would be a good buy with a stop, especially since it is now oversold. This is a buy & hold with a stop.

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FCEL appears to have opened and ran up 13%, but then slowly sold off. That does NOT make this a bad stock. I think it is a buying opportunity and may do as I have drawn here, or it may even just continue higher from here.

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PLL – Lithium was pinched between the 50 sma and 20 ema and it Popped 12% on Thursday, so…

So I TOOK A LOOK AT LAC –

We traded this in the past and it is set up nicely too. Look at the last rally from $2 to $5, and the consolidation, and now a nice strong volume pop, up 7.5%. I like LAC right here as a buy too. And…

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And when we zoom in, LAC just broke the 50sma too, with triple the average volume. The MACD is curling up and I think Lithium can run with the energy sector too.

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I mentioned OPTT yesterday:

I said that OPTT is cheap, it was a 53-55 cent stock. It regained the 50sma and has chopped along that area as it curls upward. I like a chart like this, but there is the danger that it is cheap and needs to raise money (an offering), but a smallish position may pay off. Look at the price action in November and December.

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 OPTT looks like it gapped up open, ran up 20% or so, and sold back down to ‘Up 6%’, so the sector is heating up nicely.

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  As mentioned before, I am away until Sunday night, but I ran through the comments tonight and it was great to see stock talk and comments from so many-Thanks for that Everyone!  From that I also learned that Rare Earth Stocks Popped!  They look good and that was mentioned, and some were up 20% or so. UAMY popped 17%, MP 46%, AREC up 25%, NB, REEMF, REMX, etc etc . I think that UAMY could be bought here while others may be extended. I haven’t had time to take more than a glance, but I will, since they could be ‘Buy the dip’ in the future. SVEN posted a nice list of Rare Earth, so I will post that list at the end of this report, so you can look up those charts (& watch then Friday too). I’ll put that list below Crypto  (Thanks SVEN) Bort!**

Bitcoin also exploded higher after around 5 p.m.  I’ll discuss it below. Enjoy your Friday and your weekend!

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~ALEX

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  I looked at Bitcoin on my phone during the day and it was breaking out a little, but crypto stocks really weren’t responding very much. MARA, RIOT, HUT, WULF, etc closed up 2-3%, and I thought that with Bitcoin at new highs, they should be up 7-10% or more.   Well, Bitcoin really took off after hrs, so we’ll see what they do now.

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Same Chart: IMPORTANT TO ME...

 Bitcoin really took off after hrs, so we’ll see what they do now, but Bitcoin was up at almost $117,000. Guess what? MARA and RIOT only gained another 2% in after hrs when I checked. BITCOIN BLASTS UP TO NEW ALL TIME HIGHS, a big blast higher, and they only made 4% gains total? That is very odd. Maybe it’ll change on Friday?  My target was $120,000- maybe $135,000.  I wonder if we are almost there and the Miners know it (smart money selling into the buying?). Stay tuned, Stay Frosty my friends!

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SVEN posted a nice list of Rare Earth. Take a look at some of the %-Gains in some of these. Thanks SVEN Bort!** Interestingly, LAC was there, but I always view that as Lithium. A good chart, as mentioned in the report for Energy. AREC, UAMY, etc are also nice 6 month charts.