Looks like it's building steam for a breakout, no? Well, sorry to tell you but this is the S&P 500 upside down.
With the electrification trade in play, we should see copper continuing to rise. But it's getting close to breaking below it's daily SuperTrend and if it goes below 4.0, the bears might be back. Lithium looks like it might also be struggling. If lithium is a huge part of the electrification trade, and it starts to fail... Where there's smoke there's fire? ...
A quick look at SuperTrend+ and how to use it.
TLT 's pattern of higher highs and higher lows seems very obvious. But as a wise man said, "if it's obvious, it's obviously wrong." So will we see another trap/shake-out occur before it keeps going? Or will this be where TLT pulls back further while the market resumes bullishness. What do you think?
I appreciate Michael A. Gayed's thesis here, but the more I look deeper (and longer term) at the data, it's really difficult to draw an real signal. Too many instances where it's not clear which influences which and more likely the market itself (SPX) is influencing lumber and gold independently after the fact of the market move. When you look closely you can see...
Just interesting that Moderna (MRNA) was taking off while Pfizer (PFE) was declining.
Right now the bulls have it. Breaking below 48k (anchored VWAP) it would be good to keep an eye on. Below 45k and they'll likely be further selling.
To me, it just seems overpriced and who in their right mind would buy something at this level?
What would you do? There seems to be heavy resistance at 18.50 and no real exciting support until 16.50. The previous stimulus checks don't seem to have really moved the price of gold. Where's the inflation? Normalized by DXY:
This is a bit creepy... Top chart is 2020. Bottom chart is now. What do you think?