With reference to this morning’s pre-market post, gold (daily) held below the EMA 20 on the bounce. Hence, it’s still a candidate for the 1800 to 1833 area, where it would still be just fine technically, should it drop that low. Silver is different. It whipsawed below and jerked back above its EMA 20. However, the red dashed line is the long-term marker that I … Continue reading Gold (and Silver) Still in Short-term Correction Mode
Fundamentally, Healthcare tends to be more resistant to a weak economy. Medical Devices, H/C providers, BioPharma, services, etc. In other words, it’s less cyclical than the cyclical stuff. As a TA novelty, I’ve drawn up a long-term Cup & Handle in the ratio of H/C (XLV) to the broad market (SPY). It’s a novelty because chart patterns are novelties in their own right and now … Continue reading NFTRH+; Why I Bought This Sector [w/ edit]
Ha ha ha, that’s the short answer. The longer answer is (based on an email received about my obvious hatred of Trump after my comment in this post)… In case anyone else is wondering, I obviously cannot stand Donald Trump (hate is too strong a word, as I think about him more as a disgusting, selfish and narcissistic “clown” than I do with hatred). If … Continue reading Does my contempt for Trump indicate a Democrat bias?
Where broad stocks are concerned, I am strategically long. Not short (yet, anyway). So this is not the product of someone wishing and hoping. I want this market shoved so far up Trump’s ass it’s not funny. But that is my emotional brain. My technical brain has seen and managed the trends. However, yesterday did paint bearish engulfing candles on SPX/SPY. What’s more, there is … Continue reading Eye Spy a Bearish Engulfing Candle
Okay well, there is too much glad handing going on out there on Twitter about gold and its quick recovery. Now, I agree that bull market shakeouts can be fast and furious and yesterday was a humdinger. But until the gold price takes out the daily EMA 20 why don’t we have a modicum of restraint, eh? Gold would still be 100% technically intact even … Continue reading Gold and the EMA 20