A bullish looking daily chart pattern appears… Also of note is that daily RSI has gone positive on all items, as has MACD on all but AAXJ. A key is for the pattern to hold the 50 day averages in each case. But a couple of them have nearby gaps below. Here is the pattern on the Emerging Markets fund, EEM. Here it is on … Continue reading A Pattern Shows Up in Multiple Places
We’ve been tracking the Lithium fund (not at all a pure play on Lithium, by the way) all along and put it on radar more acutely along with a couple of premier Lithium stocks back in the holiday abbreviated (read: more fun for me to write) editions of NFTRH. Here’s the weekly chart of LIT (the featured image above is a daily) as it stands … Continue reading A Couple Commodity Outliers Make Moves
Look, this very space plotted a ‘best’ target for LIT of 42 back in January in an NFTRH+ update. But much like the hysteria that came to accompany the Semiconductor sector after things had gone way past my targets (ref. NFTRH+; LRCX from June 2016), I am getting a little nonplussed by what is going on in Lithium, even though LIT is not yet to … Continue reading The Lithium Mania (public)
On January 12 we did an NFTRH+ (daily, weekly & monthly) chart highlight on LIT, with an initial target of 33. Upon researching the fund and seeing things like Tesla in its holdings I went for a purer play and traded SQM successfully a few times (currently no position, although I am long a small partner of SQM’s due to its chart, as reviewed in … Continue reading Lithium Fund (LIT) to Target (public post)
A simple update using daily, weekly and monthly charts of the Lithium fund, for those who’ve done their research on Lithium and its end markets. LIT daily broke consolidation and has risen in 3 waves to an overbought condition. LIT weekly shows a breakout from an Inverted Head & Shoulders bottom a non-overbought condition. So while a short-term reaction could happen, it would likely be … Continue reading NFTRH+; Lithium, Daily, Weekly & Monthly View
You may recall that ‘outlier’ commodities Lithium and REE’s took off together earlier in the year and the advice was that if you are a “Lithium head” (or REE head) it would be best to wait for a pullback.
A snapshot of the current technical status of several key markets (a lot of charts today because macro changes seem to be in effect)…
GLD broke down from the Sym-Tri (strike 1), lost the June low (strike 2) and now would try to find support at the December low, equiv. to gold 1180. Over sold, prone to bounce but technically bearish below 120 and 123.