Here is a commodity (REE) that I have taken my eye off of in 2020. Well, no longer. When my eye sees a chart like this, it goes right back on watch. REMX has formed a right shoulder to an Inverted H&S pattern and it is testing the resistance of the neckline. It is not an actual Inverted H&S until/unless it takes out that resistance. … Continue reading NFTRH+; A Nice Bottoming Pattern
A couple of visuals on the gold sector for you. If the rally in the broad stock market is something more than just an election week party then the Gold/SPX ratio would be vulnerable to another breakdown, as it hinted to do in October. Gold/SPX has lost the moving averages again and is testing the important support area. Again, if you believe ratios can have … Continue reading NFTRH+; 2 Key Indicators for Gold Bugs
First, the VIX, which has gotten clobbered on whatever is making the markets feel good today. I added some VIXY back yesterday as a vol. hedge, but obviously did so too soon. Show biz. I am holding it pending the VIX filling its SMA 50 after a gap fill. SPX is showing something today. Per #627 we had anticipated a bounce to at least the … Continue reading NFTRH+; Updating Some Key Markets
