1/12/2019 - Tired

As the end of the week was nearing my sentiment was deteriorating and on Thursday I started thinking of reducing my position. Luckily the Fridays action proved my feelings wrong again but there is one more step before we are out of the woods, at least short term.

USERX
USERX rallied on Friday and set up a ground to get out of the immediate trouble. While the rise to 8.94 would be enough to avoid the 92-96 sell on Monday I would prefer a rise to 9.1 to be sure that we have time to consolidate above the rising 92-96 before trying for higher ground. Once we are over 9.1 it wouldn't be so important to not sell the 92-96 because, as long as the price stays above 9.1, the next true buy will come sooner or later. If we manage to go above the 9.1 next week I will change my sell stop from the 92-96 sell to the 35-39 sell. I would, of course,  still prefer not to sell the 92-96.

HUI
HUI is on the 35-39 buy so it is in a better position than the USERX. It doesn't need an immediate rise, anything is good except a fall bellow 209.5.

XAU
XAU is in the best position of all gold indices. It is in a clearly bullish configuration and it could break out of the 16-20 sell soon.

GDX
GDX is in the worst position of all USA gold indices. It has sold the 92-96 on Friday and is now officially in a bearish configuration. This can quickly change if it rises to 28.36 which would give a powerful 35-39 and 92-96 double buy.

GDXJ
To not sell the 92-96 on Monday the GDXJ needs to rise over 39.5.

XGD Austarlian Gold Index
It is in bearish configuration but it gave a first sign of a bottom last week when it had, for the first time in 4 months, a big green candle and then a follow up. Both the reversal day and the follow up were on high volumes. It needs to rise over 7190 in the next 5 days to buy back the 35-39.

GLD gold
To regain the 35-39 buy GLD needs a rise over 140.59 next week.

SLV silver
SLV has been on its xxed out 92-95 for 95 days. The time is approaching when it will need to start rising to avoid the 92-96 sell. If it goes over 16.94 in the next 4 weeks and then manages to stay above it for long enough the xxed out 92-96 buy will morph into a true bull market. Time frame is  January 2020.

PPLT platinum
Platinum has had 3 failed true bull signals since the April this year and then it gave a fourth one which is still alive. It hasn't gone anywhere for 63 days but technically it looks sound and strong and if correct it should make a move soon. I am showing this chart because platinum is a leading indicator for gold market and if it starts moving up that should benefit gold. I will keep an eye on this one.

SandP 500
SandP is clearly in a bullish mode but I am expecting some retrace at least short term. If it happens it should help USERX to get over that 9.1 soon.

Transport index
TRAN keeps showing strong divergence to SandP (DOW) and as long as it does it makes SandP vulnerable to a sudden sell off.

TLT bonds
TLT is in a similar setup as GLD, it needs a new 35-39 buy to resume the bull.

UUP dollar
UUP is on a double 16-20 and 35-39 sell signal which, so far, didn't have any impact. A new 35-39 buy should negate this bearish signal and lead to a test of the 2008 high. A new 16-20 buy would be a negative and lead to the test of the 92-96 support.

BitCoin
Bear continues. It would need a rise to 10500 to change that.

Beside my negative sentiment I managed to hold on to my investment position and am still 100% long. Waiting to clear USERX 9.1 to relax a bit.

Good luck to everyone.
Branko