A Little Off The Top

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This is yet another very large report, designed to help you to see the many things taking place in various sectors.

 

Recently using the QQQ I pointed out that prior drop into ICLs did reach the 50sma

NASDAQ -  The Nasdaq didn't drop that much after the Fed announcement,  but it is possible that it will seek out an ICL now, since we are late in the intermediate cycle length.  That would mean that we are currently seeing a Bear Flag.

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June 14th – Clues

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We've been looking for and discussing clues heading into  todays Fed Decision.  Let's discuss Tuesdays action...

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June 13th – Right Down The Middle

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What is right down the middle? As seen in the weekend report, the analysis for GOLD, SILVER, and MINERS falls into that category, but also the emails that I get from readers seem to be split between Bulls and Bears too. Let's take a look at what happened on Monday.

 

NASDAQ -  2 charts from the weekend report .

#1 - We tagged the 50sma on a deeper or more prolonged drop

#2 - I pointed out that the NASDAQ  held up rather well at the 34 sma on quick short pullbacks.  'BUY THE DIPS' type drops.

The NASDAQ on Monday it hit ( Slightly broke) The 34 sma and reversed, closing above it. Let's see what Tuesday brings, but it is possible that the selling has exhausted for now and will produce at least a bounce. A loose stop below the 34 sma  may add safety, however...

QQQ - The 50 sma has held prior drops, and you have to admit, the volume on this drop is pretty serious. That is some strong selling volume. This may or may not be a buy the dip drop.  We may drop into an ICL and then resume the move higher. Prior ICLs broke the 50sma in 2016.

 

So...

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