First off, part of my plan is and has been a stronger dollar to come (I finally shorted the Euro today to put my money where my mouth is on this play) and that is obviously not something that has proven to be correct yet. I’ve got time, if not a lot more support. We’ve been noting that Uncle Buck’s key downside target and support … Continue reading USD Tanks, Bonds Drop as Expected, Market Rotates for Rising Yields
Greetings from my vacation, where sometimes a little work goes hand in hand with relaxation. Commodities, led by oil, have bounced hard by daily charts, and while it does not look like much on this weekly, that is one well defined area of resistance on DBC. I am shorting it again. You can probably spot the area I’d use as a stop loss. Subscribe to … Continue reading Commodity Bounce Maturing?
In an NFTRH update this morning we reviewed the charts of the leader (NDX) and its leader (SOX). Here we see the Semi leadership (to NDX) that kicked in a year ago, when we err… got bullish the Semis (amid an investing world full of apathy). The leader (to SPX) had led the market before turning down into the 2015 market top (that wasn’t) and … Continue reading The Leader (NDX) and the Leader’s Leader (SOX) Cracked, but…
Less than 3 bucks from target #1 (75), I am taking the profit here. ABBV is very overbought as it led the momentum that recently whipped up in the sector and I am not giving back the gains. Of course, I did the same thing with LRCX last year, the Semi stock that ABBV was compared to in this now public NFTRH+ post from April. … Continue reading Taking Profit on NFTRH+ Trade, ABBV
In not making a higher high before turning down below the daily SMAs 50 and 200 the Japanese Yen has painted itself vulnerable, at best. We have been noting the constructive look of the Nikkei in NFTRH and with this market especially, the currency aspect plays a big role. Japan’s stock market and its currency have, after all, been pretty well negatively correlated for about … Continue reading Return to the Land of the Sinking Currency?
This is not a pleasing short-term picture for Semiconductor and Technology bulls. Since these are leaders, it is not a pleasing picture for the broad market either. After making a bearish engulfing candle yesterday SOX is in danger of breaking what may be a bear flag. NDX is doing likewise. Yesterday’s bearish reversal candles need not have significance of more than a day or two. … Continue reading NFTRH; Semi & Tech Short-term Breakdown Potential
For more of its drivel about gold, the MSM trots Frank Holmes out again. Stuck on the same refrain that has not changed since before, into and through the bear market… Top money manager says gold may hit $1500 for the first time since 2013 Except that maybe it will go to $1000 too, Holmes allows near the end. That’s a narrow $500/oz. range! Tell … Continue reading MSM: Gold to $1500! or Maybe $1000…
Well, that term gets tossed around way too often. Gold saw a big dump into the market this morning and it dropped all the way down to last week’s lows (←sarcasm). Here is the live chart (the likes of which you can pull on many different items over at Biiwii). In NFTRH 453 and all along we’ve been noting the not bullish state of gold … Continue reading About That Gold “Flash Crash”
Excerpted from the June 25 edition of Notes From the Rabbit Hole, which also included comprehensive analysis of US and global stock markets, commodities, precious metals and stock charts galore (with the Market Internals segment, in particular, having evolved into what I find to be a must-have guide). TLT is now a buck from its target of 129. Tell me, where is all that mania … Continue reading Bonds and Related Indicators
A whopping 69 pages of right-on macro and market analysis and stock charts out the wazoo. A fun report to write that once again centered and oriented my thinking. 69 pages is beyond the high end of the usual 40-55 page length parameter because next weekend will be a shorter, vacation edition. I’m sure we can all use a bit of a summer break. Subscribe … Continue reading NFTRH 453 Out Now
Just because I was reading SEMI and had a George Gilder flashback, circa 1998… Consumer to Industrial Data Explosion Hits Supply Chain Humor aside, it got me looking at some optical networking companies and out popped Ciena’s chart(s). The daily got some volume yesterday, which got my attention. Today it is trying to make it above a short-term resistance area, after having consolidated through June. … Continue reading NFTRH+; CIEN in 3 Time Frames
As to the post’s title, I have no idea. What I do know is that a nice profit is in the books on a suddenly overbought GILD off of Tuesday’s buy. Okay Biotech sector, as you were… Subscribe to NFTRH Premium for your 40-55 page weekly report, interim updates and NFTRH+ chart and trade ideas or the free eLetter for an introduction to our work. … Continue reading GILD: Too Much Too Soon?
In line with our bullish forward view on USD, behold the very bearish state of the Commercial Hedger positions in the Euro (courtesy of Sentimentrader). Recent historical data speaks for itself. It appears a decline in the Euro is imminent (which, in market terms means ‘relax, it could be a while yet’ ;-) ). The next question is, when Uncle Buck rides will he … Continue reading Hedgers Net Short the Euro, US Market Rotates; 2 Horsemen Set to Ride?
The pot stocks were pulled over, arrested and thrown in the clink in April. Now old friend Aphria is sporting a neat little pattern. As is its bro, Canopy Growth (WEED.TO). The pattern projects to around 6.20 to 6.40 or so, if it is indeed a short-term bull pattern. Subscribe to NFTRH Premium for your 40-55 page weekly report, interim updates and NFTRH+ chart and … Continue reading Aphria, Canopy to Get High Again?