Thursday – Hanging On

/in /by

I have been mentioning that the markets were due for a drop into an ICL, and I used this chart to show the potential downside -

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NASDAQ AUGUST -  I thought that we might run to the top and then drop into an ICL just like the drops we saw in the beginning of 2018, and ...

 

This chart looks to be a lot of what I was expecting, but I wouldn't just jump in here.  The NASDAQ broke & closed below the 200sma. Even though this could be a shake out, there is no need to try to catch this falling knife. We'll monitor it along the way.

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October 10th – Nothing New Here

/in /by

We really didn't see a lot of changes take place that were not expected on Tuesday.  As the markets pull back, things do get choppy and sloppy.  At this point,  let's  do a market review and then discuss a few possible trade ideas...

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What A Nice Surprise

/in /by
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What was surprising about Monday?  It was this- Gold dropped over $17 and the Miners fought their way back to green...

 

GDX:GLD -  I discussed the bullishness when Miners lead Gold,  so this is how Golds drop & Miners POP affected the GDX:GLD ratio. Bullish.

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