It's a pattern and that is the caveat. We TAs see them and get very very excited. After being long the Cube out of the late March low I am…
This is my largest single equity position. That's the qualifier. It is bouncing as expected per our 60 minute charts reviewed each afternoon lately, but... Let me tell you what…
See, the chart below says so. It says 'higher highs and higher lows' intact, despite Trump, Amazon and the death of big Tech. Anyway, QQQ could easily go in the…
With all due notice that the market is in a long-term uptrend and remains bullish, the Nasdaq 100 (QQQ) continues to look vulnerable to short-term correction as we noted in…
Backing out all of the information we think we know like persistently over bullish sentiment, over valuation by many metrics, including the Citi Economic Surprise index and Yardeni's home cooked…
With the preamble that cash is the best position as risk rises (which it is doing as the market bounce continues and VIX sinks further) and that the FOMC is…
Today may or may not be the bounce that was expected off of the bearish developments last week. If so, or in the event such a bounce materializes this week I wanted to put some parameters down on the QQQ.
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.
A snapshot of current technicals for key markets…
GLD became very bearish with the breakdown from 124. A rise above 123 is needed to even begin to repair this chart.
A snapshot of the current technical status of key ETFs…
GLD filled gap, which now closes out the geopolitical hype and leaves gold on its own right at key support. Still not a constructive looking chart. A rise above the SMA 200 and then the 50 makes it constructive.
A snapshot of the current daily chart technical status of several ETFs…
GLD is bullish but in the equivalent resistance zone as noted for gold in NFTRH 296. MACD and RSI positive, with RSI close to over bought. Key support is at the MA 50 and 200.
Key ETF charts are a snapshot to current technicals, not comprehensive technical analysis.
GLD bumped above the lower end of resistance yesterday and is support for any continuing S/T rally activity. The big test is in the 123 to 125 area and the nose of the former Symmetrical Triangle.
ETF daily charts are a snapshot of current technicals, not a comprehensive technical review.
GLD has lost support after spilling out of the Symmetrical Triangle. Last week it was at the 62% Fib retrace and this week that is in the rear view window. Still bearish.
ETF updates are meant as a snapshot of the current technical situation, not a comprehensive technical review.