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What might we expect on Monday, based on Fridays charts?
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SPX July 6th from my last report- The SPX looked good and a break would be sweet I thought that the MACD and other things looked to be making a bullish move.
Read MoreIt is the last trading day of the week, and a few things have already changed form Thursdays report. Lets take a closer look at a few charts...
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The general markets ( And even $BKX) showed improvement after opening lower Wednesday. The release of Fed Minutes today was a non-event for the most part.
Read More We do! 120% in 4 days.
And though they are rarely seen on a regular basis in the markets, we have been spotting them left and right , even before the raise their heads to look around.
Read MoreThe past few weeks have seen huge gains %-wise in the Chartfreak Gold & Silver Miner picks. I've been reading that other letters have avoided the sector due to the C.O.T. What a shame, we discussed the C.O.T. here too, but didn't accept it as utterly bearish. I'll discuss that again this week. Lets start with a look at a couple of the recent explosive moves in Miners for example.
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TRX- I bought and have been discussing the bullishness in TRX for weeks. I will discuss it further later in the report, since it has broken out with a bullish surge higher.
XRA - This also burst higher after a 2+ month consolidation of prior gains.
AUMN, VGZ, MUX, TGD, and many others mentioned in the reports over the past few weeks are surging higher. AUMN gained 50+ %last week alone.
After a market review, I'll discuss what I think will be the next opportunities in this sector, and what to look for in Gold, Silver , and Miners going forward.
Read MoreFriday is the last trading day before we enter ( in the U.S.) a 3 day weekend. Markets are closed in the U.S. on Monday, so please keep that in mind when deciding whether you want to buy, sell, or hold. Lets do a quick market review, and then I wanted to go through some lessons pertaining to our positions in Miners. 🙂 In the general markets, something that could turn out to be very bullish happened in the markets today.
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DJIA- This was my chart from yesterday pointing out a possible shake out with the Brexit vote. I labeled this SPX, but it was DJIA. They both had the same reaction.
Notice what happened Thursday...
Read MoreWhat has been the best game in town the past few weeks? Trading Gold Miners has really been explosive. Look at charts of VGZ, MUX, ASM, CDE, AG, FSM, and more and you'll see solid gains in these once hated Miners. I want to discuss trading these miners further, since we have been killing it in some of these. Lets go to the charts...
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XRA - On June 27th, I mentioned that this is an explosive set up, and showed a few reasons why. I was buying .
I then posted this on the 28th. With Gold down $15, XRA powered higher. Last chance to get in?
And then Wednesday- BOOM! - just like the VGZ and MUX trades, this exploded higher. Up 26% at the close.
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I was asked " Did you sell the pop?", this is what I'm looking at...
Read MoreFriday alone wasn't enough to give us the information we needed. Monday helped and now we have Tuesdays trading to add the the equation. lets take a look...
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SPX- The positive side....the weekly chart ( yes, it is only Tuesday) would shape up nicely if we held here or continued higher. That's a big 'if'.
The bearish side...
Read MoreFriday we saw the initial reaction to the Brexit vote, and Monday we saw some follow through. Lets look at the charts...
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From the weekend report...
Read MoreLast week the General markets went through a period of indecision. Each morning the futures were green, then the markets sold off into the close. We had the Fed giving testimony to congress and the Brexit Vote scheduled for the end of the week.
After the Brexit vote, the future went Ka-Boom, with Gold up almost $100 at one point, and the general markets ( in the US/ and globally) panicked.
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SPX - The Dow closed down over 600 points, the NASDAQ was down over 200 points, and the Spx was down about 76 points. That is a rather ugly candle.
The ICL (Lows) were not broken, but...
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