Thursday Trading

After a quick review of the markets, we'll look at some of the stock picks in recent reports and a few new thoughts...

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Oct 3rd – What’s That Guy So Happy About?

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Maybe he is Long Gold too  🙂

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GOLD - This was a nice break higher and this took place with the USD moving higher an also on the infamous ' Chinese Golden Week'.  It was a nice on day pop and I'd like to see some follow through this week.

 

GDX - Our last report already discussed the GDX : GOLD Ratio, and showed that the Miners have been leading Gold.  They kept up with Gold on Tuesday with a nice push higher on strong volume.  Since this looks like GDX is coming out of a 1/2 cycle low, it should be able to break right through that 50sma and back test it on a dcl.  We'll see.

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The Golden Week

Thanks Ray,  for reminding me by email that this is the so called Golden Week in China. What is the Golden Week?  See the calendar below, and you'll see that China is basically on holiday from Oct 1 - Oct 7th...

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Sept 29- The Big Picture Continues to Get Clearer

The picture is getting clearer in the precious metals sector, and we have been on the right track. My Midday Friday report pointed out a few things to take note of, and this weekend report will contain a few more noteworthy points of interest.  Let's get into our weekend Big Picture Review.

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MIDDAY UPDATE 9-28

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Friday Sept 28th

   

QQQ-   The NASDAQ is still trying to move higher off of the 50sma...

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Post Fed Rainbow -Where’s That Pot Of Gold?

I was actually on the beach today and a storm started to roll in.  We got a beautiful Post Fed Rainbow, but I'm still looking for that Pot Of Gold.  Let's do a Post FOMC Market review...

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SPY  INTRADAY FED REACTION -  We have discussed that the Knee Jerk immediate reaction after the Fed is often a false move.  Notice the reaction in the SPY at 2 p.m., as it ran higher, and then the directional change that followed.

   

SPX DAILY -  The MACD confirms that the recent high was weaker, and we are due for a DCL. Watch the 50sma for a break down or support.

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FOMC WEDNESDAY 9-26-18

Well, we find ourselves on a Fed Wednesday today,  and...

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Tuesday September 25th

We have only had 1 trading day since the weekend report and with the FOMC MTG on Wednesday, not much has changed, but one sector did seem to catch fire on Monday . We will talk about that...

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SEPTEMBER 22 WEEKEND REPORT

 

DJIA WEEKLY  - The DJIA finally broke out to its all time highs.

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