Thursday January 29th – Post Fed Reactions

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SPX – The markets really did not overreact to the fed Speech. This is day 6 and it was slightly down.

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THE IWM gapped open higher and sold off as the day went on. This was expected, as mentioned in yesterday’s report. The SPX and NASDAQ had visible dcl dips, the IWM and SOX did not. This is still a bullish set up.

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WTIC – Oil broke out above the 200sma and closed above it for 2 days straight. This is only day 28 of maybe 50+, so this can run higher and that means that the Oil Stocks can run higher if it does. I have discussed stocks like WTI, VLO, BE, NOG, APA, PUMP, VET, etc.

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THE USD broke below the last ICLs, and this put the USD at multi-year lows. And wait until you see what Gold did after the Fed…

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GOLD surged on Fed Wednesday and was up $300 here, but it continued higher in after hours. Gold reached $5500 overnight! That is a huge move.

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SILVER also shot up on Fed Wednesday. This is day 18 and it can continue higher. In the weekend report I did mention that we had ‘time’ in the daily cycle to continue higher this week and maybe even next week, but I didn’t expect such Big Candles for each day. This is what a parabolic blow off top can do.

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GDX is following the metals. It is not quite as extreme yet, but that could happen next.

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TRX: This is the time when you see some of those smaller companies double and triple and TRX actually doubled in 5 days!

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BTG-I mentioned some ‘laggers’ recently that had decent set ups but just didn’t run yet. They were right at support, so they could have been bought with a stop.  BTG, NGD, VGX, PZG, NG, etc etc all started running over the past couple of weeks, and have chopped higher. The Miners are all starting to run strongly.

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NG – I mentioned NG around $10 as a lagger, and it really hasn’t launched higher yet. It could be bought as a breakout with a back test yesterday,  if it reverses higher, HOWEVER, the daily cycle time is running late now. Gold is on day 19 and the rocket boosters have ignited.

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For the first time in a long time, the general markets did not overreact to the Fed speech, but Gold surged in a large way and silver continued higher! It is a breathtaking run for sure in the Metals, so it’s hard to believe that inflation is at acceptable levels when The USD is at multiyear lows and prices seem high to me on food and cars etc. Now we will see what kind of follow through other areas will or will not have on our Post-Fed Thursday. Currently Gold, Silver, Copper, Platinum, Palladium, Oil , and other commodities are flying pre-market. The general Markets futures are slightly green at this point. Enjoy your Thursday trading!

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~ALEX

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