NFTRH Update, Key ETF Charts

GLD climbed above lateral resistance yesterday and moved above the trend line.  It is on a bull signal by all data points.  The pattern measures to 129 assuming the green line holds as support.

gld

SLV is now above both 50 MA’s after holding support.  MACD is red (0-) but triggered up.  It is healthy neutral with a bull signal waiting for the trend line to break and MACD to go 0+.

slv

GDX held support and remains on a bull signal with a breakout above the recent cluster of consolidation candles.

gdx

SIL held support perfectly and remains on a bull signal.

sil

DBC halted right at a trend line.  It has moved from bear to neutral.

dbc

DBA is on a bull signal and over bought.

dba

USO is above all moving averages and a trend line.  Heavy resistance is just above.  Bull signal, pending resistance.

uso

UNG is still on a bull signal but correcting from over bought rather severely.  Support at the 50 MA’s should hold for bull signal to remain on.  Side note:  I closed a losing trade in this yesterday as it was below the stated tolerance point.

ung.png

URA remains on a bull signal.  Support must hold to keep this going.

ura

TLT is on a bull signal but correcting from over bought.

tlt

SPY is weak neutral.  Resistance just above.

spy

EZU is weak neutral.

ezu

EEM came to target and is bouncing.  Bear signal.

eem

FXI is on a bear signal but could bounce.

fxi

Bottom Line

  • Precious Metals had a positive divergence in the (SIL) miners ETF to silver, which was a negative divergence to the sector.  Silver held support and things have gotten more bullish still.  Beyond the short term views shown above, the weekly bottoming signals (MACD and TRIX) are more important to an intermediate term bull view.  Expect volatility, but this sector is bullish.  We’ll watch silver vs. gold to gauge what kind of bullish we are talking about, dynamic or something more grinding.
  • Commodities are neutral pending the CCI 530 decision noted in NFTRH 277.
  • Stock markets are mostly neutral-bearish.  They are testing the ‘bounce vs. new bull phase?’  question, with an answer possibly coming this week.