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Warning: High risk pharmaceutical company. I was early in my last chart in January.
Chart looks more promising to me now. The company is developing non opioid treatments for joint pain, depression, and Alzheimer's disease. Pipeline (see ling below) is in clinical trials. If trials fail often get large drops in price and vice versa. With the opioid crisis IF these ...
Idea from Pokethebear (link to his chart):
LNG play. Looks very promising to me.Some pullback today. One firm downgraded to market perform and natural gas down today.
Looks sort of like a drunken cup with handle. Could use the current short tern uptrend line or recent weekly low as a stop. Process your way. Feedback appreciated.
Silver dropped more than I expected on my last post (see link below). The longer term uptrend line (dashed ) did not hold but the low from 2016 was not taken out. You can see volume has been up for awhile in the weekly chart. Have positive reversal in the weekly RSI.
Natural gas up >2% today. Back in my May post i was bullish. I remain so and short term we may get a pop up. Will be watching for a break up next few days from the "W" base pattern. For my longer term position I personally use use UNG. For shorter term trades I use the 3x: UGAZ when bullish and DGAZ when bearish.
As some authors have noted there is a tendency ...
I price action has proceeded since my last post (link below) this his how it looks to me. The triangle is could be over or we have one more drop to go. I personally favor the later. We'll see. Process your way.
Part of the reason I am somewhat bearish on US stock. There often appears to be a correlation between the lumber and stocks.
Near term target around 91.
After my last posting (link below) oil did rise in price and took profits at "d" level. I still think this may be a part of a sideways consolidation. We'll see what happens at the "e" level. I have a small short position currently that I will close at the "e" level if it is reached. Take care.
On June 29th I suggested we may get a retreat in oil prices (see link below). This has occurred and price is now at the lower trend line. I have changed my wave count (something all EWT folks do all the time :)* ). It looks to me like a final triangle may be forming. If the current drop in prices goes below 63.40 this idea is wrong. Process your way.
Best to ...
See my previous post (link below) for longer term chart. If lumber keeps falling it favors stocks will too.
My last last posting on the DJI worked out well IF you didn't read my subsequent comments (poop). At the level labeled "d" a small triangle formed which I favored in real time that it meant more down action (wrong). Triangles are a double edged sword. Now we have another one it looks to me. Here is the bearish view. Watch for the break of the 2 hour uptrend line ...
There was a huge rapid upswing in gold from 2008-2011. After a large rapid rise there is often an expended sideways consolidation IFFFF the longer term bull market is not over. I favor it is now over as I still favor long term the US dollars fall is not over. The action from 2012 to now may be part of such a extended consolation. We now have potential saucer ...
Back in March I suggested we would likely have one more drop in SLV (see link below). Its taken a while but it has happened and the target I had then has been reached. So far today SLV is up 1% on a gap up. May want to wait to see if the current downtrend line taken out. Process your way.
1. We are approaching some major support/resistance lines. 2. Approaching the mid line of the current channel. 3. We are approaching the target of two different methods I use. 4. We have a large potential bearish divergence in both the weekly (not shown) and the daily RSI. 5. Least important: the wave count.
Would not be surprised to see oil rise a little ...
If you remember my best guess 1 it dropped less than I expected to the 50 % correction level, then bounced to a newer short term high only to drop to lower short term low (see link below): a trap of sorts. I favor this is just a form of tricky correction the EWT folks call a irregular flat. And today it stopped at about the .62% level which is common. IF. This ...
In February I suggest a bounce was likely coming in the US Dollar DXY (see link below). The DXY is not at the center line of the weekly channel and almost to the Fib target area I had. There is now a bearish divergence in the daily RSI. I think it is like the dollar is about to have a longer to term decline starting soon.
I have closed my shorts on gold as a ...
Maybe because I am older this company that has developed a very promising drug for treatment of a large prostate looks very good to me. But also to others.
All these medical development companies are high risk vs potential high reward. It just takes their lead drug to fail FDA approval for price collapse so suggest you stay with a small investment if you buy ...