649bruno
Long

XME Upside Breakout: Chart 13 Of 13

AMEX:XME   SPDR S&P METALS AND MINING ETF
13 0 3
I believe that-XME is in the beginning phase of a huge upside move.
The previous 12 charts were of-XME components, all of which are breaking out to the upside.
Yes, there is still risk, but because half of the components in-XME are strong, the risk is reduced.
Here is what I see in-XME.
Let's review Don's TRADE-MAP approach:
TRADE = 1. T : Time and space (Fractals); 2. R : Repeating Cycles; 3. A : Advancing Trend; 4. D : Declining Trend; 5. E : Energy in Phase Forces.
.....MAP = 6. M : Momentum and Velocity; 7. A : Analysis of Structure; 8. P : Price Performance.
When I mention "Don's Top Ten Technicals", I use the elements of the "TRADE-MAP" approach:
1. The Ichimoku Cloud is rising as well as the 89 day moving average . 2. Prices have risen above the cloud. 3. Prices are trading above the thick red Ichimoku Cloud Conversion line.
4. The thick red conversion line is also rising. 5. The thick black line is the Ki jun-Sen baseline of the Ichimoku Cloud , which is rising and above the cloud. 6. The indicator on the top of the page is RSI / Stochastic , and this is strong. 7. The top middle indicator is vortex and it is strong (green over red). 8. The Top (bar-type) indicator measures the "phase energy" of the stock , and this is STRONG. 9. The green fractal arrows are up (not shown). 10. Look to the far right on the chart, around $26. You will note a yellowish line on top (lips), with black dots below (teeth), and a blue line (jaw) below the black dots. Now, all three are rising, correct? This is where I ask you to use your imagination and envision these three items as the "separated jaws of a feeding alligator". This is a positive indication because the alligator is FEEDING in the uptrend.
The above summary can also be said for the previous 12 charts. In my opinion-XME should go higher. My forecast is $35 to $37 in approximately 90 days.
I hope I didn't bore you with the 13 (baker's dozen) charts for-XME. Maybe now you will understand where the strength in-XME is coming from.

I would like to close with three quotes from Red Skelton:
1. “All men make mistakes, but married men find out about them sooner.”
2. “Any kid will run any errand for you, if you ask at bedtime.”
3. “Have a little laugh at life and look around you for happiness instead of sadness. Laughter has always brought me out of unhappy situations.”

I hope this has been entertaining and informative. I hope all of your trades go well. Don.


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