According to the point and figure chart here, Apple broke below a long established upward sloping trend last month and now the price is just above recent support. A move down would trigger a clear sell signal for long term holders.
DXY having broken out above a long term area of resistance has the look of a retest at the 61.8 fib retracement on the breakout swing. This is important because if the DXY can set up a sustainable up trend here then it will have 'properly' broken out. This would have consequences for world markets.
The Bitcoin bounce off of the middle line in the current trend was powerful. Just when all looked lost as the price plunged below key support levels a strong counter trend rally occurred getting price back up above those support levels at around the 30k mark. However the price is still in a dangerous area below the current shorter term down trend and also in the...
DXY US dollar continues to get stronger. Gold has broken below a key level of support, retested it and so far failed to break back above. This could be the start of a major break in the long term up trend for gold.
THe DXY has been very strong of late with powerful moves against the key competing currencies. However looked at over the long term I see progressively shallower bull markets for the DXY and right now we are at just under a key level of long term resistance.
Looking at gold on a point and figure chart shows that currently there is no buy or sell signal being generated by this chart type. Point and figure is a useful chart type because it eliminates time and only shows movements in price.
Subscriptions to Netflix have had their first period of shrinkage. This has triggered a powerful sell off. Markets tend to overreact and the big question is 'how low will it go'. I think the $150 level could be when the value crowd step in.
This is going to upset some silver bugs but the all time high of silver was 3.8% higher than the previous high in 1979.
I am watching this one to see if it can break out of the current down trend.
Not holding my breath.
Semiconductor company AMD is currently seeing a severe correction. When might the buyers step in for value? I think it is around the 92 level but if it breaks below that volume support line it could go as low as 72 before the bargain hunters step in.