*Note, I am going to post NFTRH+ dry runs at the site using the password for the week, but will not send a direct email, so as not to clutter the in boxes of those who are not interested.
A post was made at the site with thoughts about any Ukraine inspired bullishness in the precious metals. You know my stance by now. I don't like it. In light…
With silver heading to a break down or break out decision in the coming weeks and with its price down hard today, those bullish on silver and looking for buying opportunity could be buying today. It is hard to buy silver now, and that is probably the point.
A reminder that below is a snapshot of current ETF status, not a comprehensive technical review.
Non-traders or those not interested in this type of trade please disregard!
Continuing the idea of dry running and refining NFTRH+, here is an interesting chart I came across for French Pharmaceutical company Sanofi (SNY).
Drying running another potential trade. The previous NFTRH+ 'dry run' trade, CORN, is going well. I still hold it for now, but it is profitable folks. Remember, there will not…
GDX held neckline support after spiking below the bear flag’s origin point and is filling the downside gap off of the bear flag breakdown. If this rebound is more than a fleeting thing it will get through the SMA 200 (red) and eventually make a higher high above the early April bear flag top.
There is a problem with biiwii.com’s server this morning and I was unable to do the Wednesday morning Key ETF update without constant interruptions. In its place this week we’ll simply go with a general update by email.
HUI has declined to 215 and made a marginal lower low from the start of the bear flag in the 216’s. We had been anticipating 210 as the critical support to a bottoming scenario. So, given the proclivity of this sector to test limits, let’s keep that alive.
Just getting comfortable with the format. Please dear non-traders, tune out these updates. As noted in NFTRH 287, CORN was dropping toward a lower channel line. This morning what I…
A reminder that ETF charts are more a snapshot to current status than comprehensive TA. Also, to save time the MACD (which is usually noted as green (positive) or red (negative) will be colored blue in ETF updates going forward. The relevant point to the color coding is whether MACD is above or below zero. Also, RSI is added and the charts have a new format.
GLD broke down from an unimpressive short term uptrend (low relative ‘up’ volume), keeping the long anticipated support zone in play. That support zone is quite important. GLD is neutral-bearish, but with a potentially bullish pattern.
HUI has clearly broken down from the bear flag. As noted previously, these breakdowns usually see a decline below the start point, which was around 216.
Was that the bounce? If it was, my longs are not going to do well and will probably stop out shortly. But in the event that the bulls are just getting themselves together and will put on an upward grind this week (as in a bear flag), a would-be bull flag setup is shown below on bear fund SPXS.
For those interested in the Semiconductor sector (I know of a few subscribers who are) here is the update on four items we have gone over quite a bit in the last couple of months.