bhowe

bhowe

The NYSE ( symbol NYA) or SP500 is about to turn over here. The harmonic pattern shown and resistance at the 200ma will make the down turn expected. RSI and %R both indicate near and longer term over bought conditions. Look for a retrace of 38.2% down to the raising 50sma for support.

bhowe

I might be a little early here, but I like RIG and I'm BUYING. After a 78.6% retracement off the highs it looks promising. The RSI and %R are oversold and have acted as a good buy spot in the past. The company has positive net income so fundamentally pretty solid. Earnings are a way off so no near term shocks. The 15 min chart shows a double bottom, which usually...

bhowe

While its not a done deal, I would be lightening up in the energy sector. I Bearish Bat formation could be forming. Typically they go to 0.886 retracement. We are not there yet, but getting close. Volume is dropping off some. RSI is making a lower high. Look to get back in around $59. I wouldnt try to short this but I wouldn't be going long either. Neutral.

bhowe

If we can put any faith in Harmonics patterns, then we can expect a drop in the SP500 to around the 1924 area. There is a near perfect Bearish Bat pattern forming here. This would indicate a 50% retracement is coming. The RSI and %R are very overbought also. Volume is dropping off.

bhowe

New trade idea, BUY VALE here after a 61.8% retracement. Note the previous two pullbacks all reversed at 61.8% to move higher. Note the RSI is also at previous levels of oversold. Also, nice support level bouncing of the 20sma

bhowe

IBB, the tracking stock for the Bio sector looks ready to regain its upward trajectory. With the RSI and %R at very oversold positions it may be ready. We recently had a bounce off the 200ma, There appears to be consolidation in the blue box currently. Look for a move above the 8ema to enter long.

bhowe

Taho appears to me to be ready for a pullback. Up against resistance at 200ma. Overbought on RSI and %R. AB=CD pattern completed. Volume falling off, its only 2:40 as I write but that's some weak daily volume.

bhowe

Gold, XAUUSD is primed for a pullback. Starting to see long wicks that indicate that the bulls can keep it going. Could be the CD leg of a Harmonic pattern starting. Looking at the RSI the commodity is very over bought over 80, close to 100. If this is the start of a bull market then we probably wont get a big pullback. I'm looking at 1181 or 38.2%. This should...

bhowe

DUST basing here at the %R very oversold. Volume picking up. Look at the last time DUST had a base like this, it went up pretty good. The problem is, we are starting a bull market in GOLD and betting against the trend can be very risky. Wiat unitl the price gets above the 8ema before getting in. Could project over $12, I'd be happy getting to $8.

bhowe

DUST appears oversold right now. The TSI is oversold and at previous places where reversals take place. I am looking at a move up out of a descending wedge pattern to complete the AB=CD pattern. Also getting a stochastics cross LE recommendation. Expecting a similar move higher as seen Yesterday, the 9th. Note this is a 15 minute chart

bhowe

After a huge runn up today on NUGT, you might want to think about locking in gains. Notice previous tops happen a few days after huge runups. Also check the %R at very over bought numbers. I'm not saying time to jump into DUST. I just expect a pullback..

bhowe

SA looks to be oversold (blue circles) and consolidating. RSI and %R are very oversold. Typically a run up is expected (but not always) into the red circle sell points. Stochastics strategy is indicating a Long Entry (LE). The pattern forming could look like a bear flag, but is very similar to a turn pattern from 11-5-2014 ( see gold bars). TSI looks to be...

bhowe

XAUUSD, or GOLD, looks to be forming a very odd pattern. Similar pattern was formed in July of 2013. This pattern follows the RSI up a ascending path (represented by the blue line). IF, the pattern continues up the path then we could see a very strong move. Probably at least to the 200ma, if not a break thru. The red circles were my previous sell points....

bhowe

GDX, Looks like the miners are getting close to a buy. The RSI is approaching the oversold area on the daily chart. I expect a week of consolidation (note similar blue boxes) with a drifting down to the $12.72 area. This will be the BUY. It will give the daily chart time to reach way over sold. Then we can jump in and get a $2-$3 jump in GDX. We will sell when the...

bhowe

AA, Alcoa is way oversold. Looks for a 20% increase from these lows to $8.40.

bhowe

GDX-NUGT, miners have a psuh over the trend line, or a fake out and are now set to make a small move higher. Look for a 4-5% rise to the $14 range. Looking at the 1 hr RSI for a 82 to sell. Looking at the longer 4 hr chart, there may be room to move higher. Good luck

bhowe

XAUUSD or Gold has reached an overbought position. Similar to previous time, as noted by the red circles you can expect a pullback to consolidate. I do expect the uptrend to continue this may be a buying opportunity.

bhowe

KITE- appears to be nearing the lower trend line, RSI is over sold and rebounding, TSI appears to be nearing a positive cross higher. Might be a few days early here, so patience.