This is what I am considering for the move up in stonks the last number of weeks I'm not bullish at this point especially after NFP today FED is NOT Pivoting anytime soon Rates and the USD are going back up again and this is fundamentally not good for stonks Technically looks like a three leg counter trend bear market rally at this point and we have just seen...
Chart speaks for itself. 3 leg move up into resistance. Corrective price action. Next USD upleg in coming weeks.
Post FOMC "pivot" has caused a break of the potential HnS top in yields HOWEVER - this could be a false break as currently holding right below the neckline If PCE data tomorrow comes in hotter than forecast then all bets off again and yields higher as market is ahead of itself in thinking FED has pivoted already More hike to come imo unless everything craters
No matter how bearish you might be on the back of FED/rates/inflation storyline.....bonds are coming into strong levels of support and round number 150 Next 3 months+ could see sizable rally of at least 5%-10%
There is no reason to be short OIL "Doing a Bobby" (Charlton) as we used to say (shooting in to the top right hand corner) Higher lows, potential 4th wave EW pullback finished and heading up in a wave 5 (often the strongest wave for commodities) Stochastics suggest more to come, RSI headed higher PLUS, Russian Oil situation PLUS, US to replenish the SPR Nothing to...
German 10yr yields which have been negative yielding for much of the last few years continue to RISE and just hit a two year high (last seen May 2019). They are set to go even higher in coming weeks/months and should be back in positive yield territory shortly. Charts suggest German 10yr yields could rise to +0.50% in 2021. Great news finally for...
Potential reversal from here 1.05-1.15% zone Confluence 1989 downtrendline and 2015 yield high resitance RSI o/bought
I've been bearish and surely this inverted H+S pattern is TOO OBVIOUS but let's see if it plays out. Long 4150 stop 4050 target 4600 area. By the way I thinks Bonds are close to a reversal lower in yields 1.05% Bunds 3.20% Ten Year
We may be making an interim top in DXY at 101. Looking for range 92-102 over coming months.
GDX relative to SPX looks like it is bottoming - note RSI divergence the last several months plus huge support at recent lows on relative chart going back a few years. It seems to me that GDX (gold miners) are probably going to significantly outperform the overall market in the months and quarters ahead. I am stepping into some selective longs looking for alpha.
Beaten down and sentiment levels low, the S&P500 looks to be "in the zone" at Fib support and ready for at least a 4-5% rally potentially more
Very long term key chart levels for the EURO Uptrend for 10+ years Retest from top side of breakout of med term downtrend As a contrarian it makes sense to be buying EUROs for lon time horizon investors
I never (rarely) post about Bitcoin BTCUSD BTC/USD But at a high level this looks like an interesting potential level
Today saw a potential capitulation low in the Indian NIFTY stock index, marking the end of an 8 week sell off falling 30% from January highs. Today's reversal keeps the trend up longer term with prices within the long term channel from the 2008-09 lows (today also marked 38% retrace of the bull market from 2009-09).
Longer term weekly chart of China A50 stock index. Looks to be a fairly textbook pullback (abc) to support levels which were prior resistance in 2015 and 2019 before breakout higher. Given RSI also bottoming it looks like the support level will hold and enable another leg higher over coming 12-24 months.
The last time BITCOIN was this oversold was March 2020. In the following 12 months it rallied 1000%. I'm not saying there will be a 10x rally from here but in the last 48 hrs I have been a buyer of Crypto and selective Blockchain related stonks. See you in 6-12 months.
If I didn't know any better I might suggest that NDX is about to hit resistance (wave channel and rsi) and roll over for another 3-4% leg lower before a more meaningful bounce next week
Potential 40% upside with risk of 10%-15% over coming weeks if classic inverted H+S plays out with target around 50,000 and stop at 30,000