Protected: NFTRH+; relief bounce
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Tag: SPX
Gold miners watch the “last inflated man standing” start to fail
As we step toward a counter-cyclical macro, the fundamentals will finally improve for gold mining From a June 19th interview I did with with Jordan Roy Byrne with respect to gold stocks, Energy and the proper macro fundamentals for the gold mining sector: In my experience gold stocks will… they can paint ugly charts and then follow through on those ugly charts. But when a … Continue reading Gold miners watch the “last inflated man standing” start to fail
Protected: NFTRH+; where things stand near the close of Fed week
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Protected: NFTRH+; a nice chart that is right in the wheel house of the preferred macro view
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Protected: NFTRH+; S&P 500 E-mini, pre-FOMC
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Protected: NFTRH+; positive divergence in this inter-market ratio [w/ edit]
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NFTRH+; S&P 500 E-mini (ES)
It is still summer silly season and as such it would not be surprising for ES to hold support here and take one more lunge upward during the pre-FOMC time window. It would also not be surprising for it to resume a bear market after hitting and dropping from the SMA 200. However, as noted in NFTRH 719, that would be the obvious and ‘logical’ … Continue reading NFTRH+; S&P 500 E-mini (ES)
NFTRH+; a very clear setup
It’s the final stages of the originally planned summer rally window from July potentially into September. It is the final stages because the current plan will either play out with a bear market failure or the plan will be proven wrong if the bulls are able to break the bear’s downtrend. As already noted, speaking as a perhaps over-thinking human, I feel like the bear … Continue reading NFTRH+; a very clear setup
Doctor Copper’s prescription enclosed…
Doctor Copper’s scrip: “The economy is starting to gear down due to the reduction of the very cyclical inflationary forces that had stimulated the patient previously. If you feel a sudden loss of balance, as if a carpet were being pulled out from under your feet that will be the inflation trades you’ve stood resolutely upon continuing from a normal correction to an erosion of … Continue reading Doctor Copper’s prescription enclosed…
SPX weekly chart situation
S&P 500 is at resistance I found this weekly chart in the chart list showing the old pattern target NFTRH established back in 2020 (it topped a couple hundred points higher). Not coincidentally, 3400 is our minimum bear market target and would represent a round trip back to the pattern top and clear support. At the moment I am short nothing as I’ve been greedy … Continue reading SPX weekly chart situation
Ladies & Gentlemen, meet 3:12 Charlie
From a previous post about the media’s obsession with declaring a bear market after a 20% drop: As you can see, barring a miracle reversal (is 2:00 Charlie still a thing?) this week will have been a damaging one as the support level SPX hammered from last week is being lost this week. Well, he came at 3:12. Close enough for government work. I actually … Continue reading Ladies & Gentlemen, meet 3:12 Charlie
Stocks fell into a bear market on Friday!
Stocks enter a bear market! Stocks enter a bear market based on some arbitrary percentage that lazy media assign to it. So, like 19% was okay? No dear MSfN, stocks were indicated to have entered a bear market (of some kind) back in February when the weekly chart of SPX crossed its moving averages down (red arrow) and failed to climb above either of them … Continue reading Stocks fell into a bear market on Friday!
NFTRH+; 2 more gaps
Yesterday SPX filled the gap we’ve had on radar for months. But there is another daily gap at 3330. Now that a bear market is likely in progress we can’t rule anything out. I’ve been focused on the upper gap due to bleak sentiment and the possibility that the support just below it could be an area to spark a sentiment rally (and future shorting … Continue reading NFTRH+; 2 more gaps
NFTRH+; final gap filled
Just an FYI that SPX has joined its fellows NDX & SOX in filling its daily chart gap we’ve had on radar for the last several months. What comes of this, I cannot answer. But with inflation data coming this week, sentiment bleak and these gaps filled, if certain conditions for relief ensue the gaps are no longer a bearish issue. I am going to … Continue reading NFTRH+; final gap filled