Friday January 23rd – Bulls!
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From yesterday’s report:
SPX: This does look like the swing low and a dcl at day 38, with a peak on day 33 (R.T.).
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SPX REVIEW –
1. The markets gapped opened down on Tuesday with the threat of tariffs, and lost the 50sma.
2. They recovered that 50sma on Wednesday and pushed higher on Thursday when the threat was removed.
3. We were due for a dcl and it looks to be in place at day 38. Stocks rallied yesterday.
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Most of our stock lists Stocks rallied very well!
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DVLT started to move and I bought it and then grabbed this chart to show that in the past, this ‘AI’ stock would give us days of 27% gains, and 55% gains and 43%. In September it also made those large gains, so this would be a buy, it might just be starting to run…
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DVLT then closed up 20% and it could keep going.
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IMSR was mentioned by ED earlier and it also closed up 24%. This is a nice set up because it closed above the 50sma for 7 days and now it gained strength to push above the 200sma. If we are looking at a dcl in the general markets, then this might also just be starting to run. (It’s very hard to buy a stock that just ran from $9.50 to $13.50 in 2 days, so you either start small and add later or wait for a dip, but that dip may not come for a while and it may be higher up).
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LAES has always made great gains too, and this is a bullish buy and hold after the dcl, so I posted this break and close above the 50sma at 9:38 a.m. After a long base above the 200sma it is breaking above the 50sma.
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LAES was then up 16% at midday. MANY Stocks were running strong out of that dcl yesterday
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SES was also mentioned as a bullish ‘AI’ set up, so I grabbed this at 9:45 am. It had a good day Wednesday and has bullishly been riding along the 50sma. SES closed in this area after running higher, but this can run back to prior highs, forming a cup.
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ONDS was not doing a lot yesterday, but it is a cup with a high handle. That handle was very choppy during the sell down into a dcl, but it appears to ne at the 20ema and this is a buy area. THIS CHART IS USING AN ARITHMETIC SCALE- It let’s looks very choppy, but look at it on a log scale…
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ONDS on a ‘log scale’ looks like a very nice cup and handle, now at the 0 ema, so this is considered a buy.
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My Little PONY is an ‘AI’ stock that I have mentioned many times, so you can see that it moved out of the ICL in November around $11. It rallied and then chopped along that red 200sma for the dcl, and now it should be ready to run again. We had some selling into the close, so PONY only closed up 5% and is still in a buy area.
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I have been mentioning RKLB as a great runner since last Aprils ICL. Look what it has done already since Novembers ICL!
RKLB actually dropped yesterday, but it is likely just resting after running up almost 200% from that ICL. It put in a reversal at the 20ema and has bounced strong from here in the past.
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WTIC – Oil dropped and is pinched between the 50 & 200sma. It looks bullish.
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THE USD dropped and lost both the 50 and 200sma. The RSI is weakening too.
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GOLD is in rally mode and on day 14 made new highs as it runs to that $5000 area. Miners really kicked it into gear yesterday, with many making double-digit %-Gains ( 10%-20% +). It was a very good day for many miners and the laggers that were recently pointed out also ran strong.
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SILVER -continued higher too, on its way to that $100 area. I have been saying that I have had a ‘target’ of $97.63. I said it several times and someone asked me why that number, so I’ll show you…
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This is a measured move of an extreme move. SILVER is measured during its first long move and then Fibonacci is used to get the extensions. $97.63 is the target of that formula, but Silver is so strong that it could be drawn to that $100 area like a magnet. I actually drew up this chart on Jan 16th, but I had measured it out before that and I had targeted the $81- $87 to start. Silver is STRONG!
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GDX is outside of that upward channel and it closed up almost 4% yesterday, but many stocks were up over 10%.
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Just an example of a couple of Miners that blasted higher: They almost all suddenly did exceptional.
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USAS (Cup with high handle) surged 17% by midday. It closed up 19%.
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CDE was lagging a little until the last week or 2, unable to make new highs while Silver blasted higher. It finally found strong buying and it surged up 12.5%
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I had posted BTG, GORO, NG, and a few others as laggers a week or so ago too. They are off and running now and this was BTG breaking higher on Tuesday (as a buy opportunity if you wanted a lagger)..
BTG was still heading up toward the highs yesterday when I captured this after 11:40 a.m., and then it sold down a little (closed up 5%). I would think that it should still be able to run back to the highs or more.
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So we have the bulls running very strongly in the Precious metals markets. Some Miners were already doing very well while others chopped a bit, but now it seems that Buyers are flooding into the Miners as Gold and Silver approach $5000 and $100. With what looks to be a dcl in the general markets, stocks in Robotics, Aviation, Rare Earth, AI, etc etc are surging too. The Bulls were definitely in a stampede on Thursday, I hope that it continues through Friday too. Enjoy your Friday trading!
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~ALEX
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BITCOIN should have a dcl in place here, but unfortunately it failed to join the party yesterday. We’ll see what happens today, this is a live 7am chart of Bitcoin.
