Gold stocks very logically bounced from the equivalent of HUI 152, which is support from 2008 and the 2002-2003 period as we noted in NFTRH 315. When dealing with these…
A quick note to let you know that I will be out for the rest of the day. I wanted to communicate this because I tend to update during dynamic…
Stock Market Let's keep it simple. At the depths of the recent hysterical downside we noted that the forces pushing the market down were probably unsustainable largely due to hype…
Post FOMC The Fed has ended QE 3 as expected. Here is the big picture view that has seen a post-2008 constant in Zero Interest Rate Policy (ZIRP) and systematic…
A snapshot of daily technicals on key ETFs…
GLD is in a series of lower lows and lower highs. It failed to rise above the June low, and so remains bearish until it can at least clear 120 and then later, make a higher high to July.
This post is as much to test out the new site and get us used to our new environment (NFTRH.com will be much more NFTRH-intensive than Biiwii.com, which itself will…
Turning to one of our leaders, I wanted to show the Russell 2000 from weekly and daily views.
A snapshot of current technicals…
GLD climbed above the June low but is still considered at resistance below the SMA 50. Also note GLD remains in a down trend (series of lower highs and lower lows) which would not be broken until a rise above the July high around 129.
A snapshot on gold... We noted the May/June low as the key resistance point for gold and today it is popping above that point, with a 50+ (but not over…
This is probably of more concern to traders, so it could be considered an NFTRH+ update as well for people who want to plot levels to take a shot shorting. But for everyone’s reference I want to put up another view of the upside retrace potentials using Fibonacci retracement levels, now that the bounce is confirmed to be in progress and we can gauge an actual low to measure from.
Allow me to share with you some crude artwork to illustrate the rough path most likely for US stock markets in the coming weeks through year end. I thought a simple cartoon might suit our needs nicely. The black lines are what have been, up to today. The blue is how this type of correction might typically unfold.
In a volatile environment perhaps a good way for many people to go (other than the #1 option, cash) is trading the indicators and indexes, a opposed to individual stocks. In that regard, I think that long-term T bonds are getting over done on the upside (R.I.P. ‘Great Rotation’).
Usually interim updates are all business, talking about changes in indicators or technical analysis or parameters. Well, this market is getting beyond the black and white and bears some discussion, from one market participant to another. So pretending that you casually asked me ‘hey pal, what do you think about the markets?’…