NDX is shooting for a Friday close in the same condition it closed last Friday. Yup, it’s old friend the Bearish Engulfing candle back again for an encore. While other indexes have already come down off their perches (SPX testing its SMA 50 and DJIA poking through its SMA 50), the leading NDX has been held aloft by the big tech names lately. That is … Continue reading Engulf This…
Note: The following is a TA post. It tries not to focus on fundamentals or the negative potential sentiment setup that could develop when Coronavirus relief finally spreads across the land. It’s the short and long-term TA of it, as it stands now. I found this comment response to the Goldseek version of my article on the long-term gold Commitments of Traders situation to be … Continue reading A “Translation Service”: HUI Daily, Weekly & Monthly Charts
Pancake… err, Yellowcake is not distinguishing itself as the Uranium sector’s ignominy continues after not even participating in the recent global macro bounce-a-thon. Copper miners have failed the bounce along with the Economic Ph.D’d metal they toil and slave for. And here is the entirety of the Industrial Metals complex pancaking, and then some. Why, even Palladium is taking a crack from its near vertical … Continue reading Mineral/Metal Pancakes Anyone?
On January 24 we waved goodbye to 2.2% on the Continuum and today we wave goodbye to 2.1% and also the theoretical * support line. As per the NFTRH plan that linked long-term yields to inflation expectations and thus commodities and the whole of the inflation/reflation trades, the damn raft of them appears ** to be sinking, at least temporarily taking on water. * If … Continue reading There Goes 2.1% on the 30 Year Yield
In NFTRH 587 we anticipated perhaps one more drop and then a recovery off of the bearish engulfing candles in the main indexes and that is exactly what we got. Using NDX as an example the engulfing candle from last Friday worked to perfection. It foretold exactly one more bad day and then NDX reversed back upward to fill the gap down that was left. … Continue reading NFTRH; Stock Market & Precious Metals After the Projected Drop & Pop
I added SLV in after-hours trading due to Silver’s drop to, and hammer at the 50 day moving average. The major daily chart trend (SMA 200) is up and if support holds here the intermediate trend (SMA 50) could turn back up as well. Regardless, with the Fed out of the way after whispering its sweet nothings in the market’s ear it felt like the … Continue reading NFTRH+; a Simple Update on Silver
Monkey see… himself take a small (now booked) loss on XLNX that had once been a very decent profit, Monkey do… sell CIEN for a very nice profit. Simple. Monkey also evaluate the oh so predictable post-engulfing rebound in the sentiment-fueled stock market, making sure to continue taking profits and/or limiting losses before any thoughts of aggressively shorting. Finally, Monkey also hold on to his … Continue reading Monkey See, Monkey Do
It’s all the hype, all the rage in Tech. At least next after the Cloud. Here’s part of the release from Xilinx (XLNX), a stock that I’ve held for months, first at a paper loss, then a very acceptable paper profit (which I failed to take), and now at a fairly small (2.9%) paper loss. I usually conjure my inner Edwin Lefèvre (Reminiscences of a … Continue reading Whither 5G?
Because it’s so important to see this correctly and not pretend we (well, I) know more than we (I) actually do I find it important to look at pictorial representations of history and think about them when I get some quiet time (ha ha ha, like not on Twitter, not reading financial/gold websites and most certainly not watching TeeVee finance and news). So I am … Continue reading Perspective on the Long-Term Gold CoT
The Gold/Silver (GSR) ratio has followed the slight bias toward gold and broken upward. What’s more, the US dollar remains firm but the Yen is weak. So there is somewhat of a mixed macro message in currencies. Regardless, the pressure in gold and silver stocks over the last couple days is no surprise because a) a move in the Gold/Silver ratio often does that amid … Continue reading Gold/Silver Ratio Makes a Move
Per NFTRH 587 and yesterday’s post with respect to the Bearish Engulfing candle… “A word on daily chart candle formations… their efficacy is measured out in a day or two and are pertinent mainly to day traders.” Step 1, the post engulfing drop (day 1), came about in dramatic fashion. It should not go much past today (if a currently positive pre-market were to reverse … Continue reading Micromanaging the SPX Daily Chart
It’s as its name implies. A Bearish Engulfing candle is a red bear candle that is outside of the previous candle’s high and low and thus engulfs it. Day traders will see these and should prepare for a negative market reaction measured in a day or two. Longer-term position holders should consider them a blip, with the trends being far more important. The headline indexes … Continue reading US Index Bearish Engulfing Candles, Leading to… ?
Okay, here is what the media are focused on (click the graphic to read all about it)… And here is the kind of clear and rational analysis that right minded investors should be employing (your choice)… Subscribe to NFTRH Premium (monthly at USD $35.00 or a discounted yearly at USD $365.00) for an in-depth weekly market report, interim market updates and NFTRH+ chart and … Continue reading NFTRH 587 Out Now
The metal with the Economic Ph.D. has cracked support at 2.75 (which includes the SMA 50), turning it to resistance. It’s at a short-term support area at the SMA 200 with the next support at 2.62. We had an NFTRH update yesterday morning in pre-market as it was just touching that former support. Doc and several other indicators were shown that begged a level of … Continue reading Doctor Copper Goes on Life Support