thephilipgregory

thephilipgregory

So the bearish view is now invalidated. No head and shoulders, no re-test of the low. We have no broken upwards and should see US500 follow US100's pattern up higher. The only thing to be wary of is that BTC did something very similar (in fact, this exact pattern) a few months ago. It eventually DID retest the lows, but after a massive pump like this that made...

thephilipgregory Updated 

As many know, I have been calling stocks (and gold / silver) sells for weeks. Instead of listening to me, the permabulls decided to call me bipolar for sharing the facts that invalidate their hopium. I even had a few bulls claim that silver is negatively correlated to stocks (it's not) and that yields and the dollar move the same way (they don't). Unfortunately...

thephilipgregory

Given that nearly everyone was bullish and buying tops while I was signaling a retrace to lower levels, I thought I'd share where we are now with NAS500 / Stocks. What you see here is a familiar picture. The narrative is that we have broken the downtrend and are on our way up. While this is certainly possible, pay special attention to the ascending channel that...

thephilipgregory Updated 

Don't expect more charts. Or do. Or not. Maybe. I dunno. I predicted a week ago that BTC would drop due to it rejecting the top of the channel and being severely overbought, but also DXY being severely oversold and holding resistance at the bottom of its price channel, and the possibility that negative DXY news could impact stocks, thereby driving bond yields up...

thephilipgregory Updated 

Stocks have rejected bottom of the channel which means yields should head down, giving more upside to BTC and GOLD. That being said, there is news this week (Friday) that could sway sentiment. If stocks dip, well...you know. Also, I don't know why I finally decided to post charts this week randomly but, if you don't see some that's because... I don't usually post charts.

thephilipgregory Updated 

Gold is in (unsurprisingly) a similar place as BTC, where it has been severely overbought for quite a while, rejected the top of the channel for a retrace, then rejected the mean to try for highs again. Similar to BTC, these moves were driven by the devaluation of the dollar, and the negative US news, which impacted stock markets, and therefore bond yields, and...

thephilipgregory Updated 

Just wanted to post the wider view on gold. The last chart I posted was the current channel, and this is the long-term channel. Keep in mind that, with PnF charts on Tradingview, the timeframe doesn't matter. You are looking at a very long term price channel.