‘Anti’ markets

These daily charts are flipped over to a view that is ‘anti’ their normal selves

I have often referred to the improbably bullish (to many; NFTRH has tracked and respected the bullish dollar for a year now) US dollar as an anti-market, the liquidity collector from the global liquidity-driven and speculative mess created by the Fed and its fellows. But here is a look at some markets (ETFs & indexes) in their opposite or ‘anti’ suit. In other words, here are some charts flipped over. If the chart is bullish the underlying asset/market is technically not.

The major risk in my opinion is in the over-hyped inflation trades as inflation signals fade. That means commodities, mainly. But also Materials, Financials and other areas thought to be ‘reflation’ sensitive and highly cyclical.

While the environment that is developing should be positive for gold and especially its miners, reality is often a different matter in the short-term. As noted in the previous post and in the recent interview with the Daily Gold, that reality, if past is prologue, is that some significant number of gold mining investors are wrongheadedly in it for inflation. If the inflation trades do fail then gold stocks tend to be vulnerable at first.

The hope against the crash scenario would be that the post-2020 correction has mitigated the damage the inflation herds will do when they give up the inflated ship. But hope is not an investing strategy.

Personally, with all of this in motion I am staying balanced and open minded. No dogma or robot thinking. Just day to day, week to week and letting it play out (with the odd minor mental whipsaw here and there).

Anti-Gold is trying to break its downtrend.

Anti-Silver is bullish, trending up and above support.

Anti-GDX is bull biased and on the verge of breaking out.

Anti-DBC (commodity tracker) is testing its break above the SMA 50.

Anti-GYX (industrial metals) is bullish above former resistance and trying to change its trend upward.

Anti-Copper Miners is on a strong move, trying to change trend.

Anti-Materials sector broke a bottom/base pattern to the upside in an impulsive move that could eventually change the trend.

Anti-Energy made a move off of all that hype and remains above the SMA 50.

Anti-Financials is firmly trending up in 2022 and starting to turn the major (SMA 200) trend up as well.

Anti-SPY (broad US stocks) is also firmly trending up and starting to change the major trend.

Anti-DJW (global stocks)… ditto.

For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an in-depth weekly market report, detailed market updates and NFTRH+ dynamic updates and chart/trade setup ideas. Subscribe by Credit Card or PayPal using a link on the right sidebar (if using a mobile device you may need to scroll down) or see all options and more info. Keep up to date with actionable public content at NFTRH.com by using the email form on the right sidebar. Follow via Twitter@NFTRHgt.

Testimonials

2 thoughts on “‘Anti’ markets

  1. For anyone else wondering about the SPDR price 169.51($?) in relation to the gold price (currently around $1815). According to Investopedia:
    “At the fund’s inception shares were worth one-tenth the price of gold. However, the amount of gold represented by each share is slightly eroded over time as the ETF charges investors a 0.4% annual fee.”

Comments are closed.