*comment: The chart is still in a bearish configuration but it is on a 35-39 true buy signal. I expected 16sell/35buy combo to mark the high but it did not and now the move extended to touch 92-96. If the price goes above $4704 and then holds above the $4500ish for long enough to sell-buy the 92-96, a new bull market would be triggered. To be honest I am sceptical but everything is possible. Right now, as a more probable scenario, I am looking for a retrace back to $4350 to touch/buy 16-20. Then we will see.
HUI, on 92-96 BUY (double BUY with 35-39), onpath, xxed, 55 days, +26.72% (also, 16-20 breaking to BUY; 35-39 on BUY; 92-96 on BUY; 218-222 SELL executed today; current price $318.87)
*comment: The HUI broke free, the chart is bullish. My target of $325 has been hit and consolidation is in progress between $280-320. The SKI bullish structure is developing nicely and any future drop will be met with the 16-20 and 35-39 support.
Nasdaq, on 35-39 BUY, onpath, xxed, 10 days, +3.0% (also, 16-20 on SELL; 35-39 breaking to SELL; 92-96 on SELL; 218-222 on BUY; current price $14532)
*comment: The chart is in a bearish configuration. The 16sell/35buy combo did not mark the top but the 35-39 might sell again which would make the chart short term bearish again. To turn the chart bullish $16000 needs to be cleared and then held long enough for a buy-sell of 92-96. If the 35-39 sells soon and then buys back quickly that will turn short term configuration bullish again with a possibility to attack that $16K target. The more probable scenario for me is a 35-39 sell and then drop to $12500ish to buy 16-20 and test the previous low.
Russell, on 35-39 BUY, onpath, notxxed(true), 11 days, +1.43% (also, 16-20 on SELL; 35-39 breaking to SELL; 92-96 on SELL; 218-222 on SELL; current $2095)
*comment: Russell is in a bearish configuration but it has broken back into the old trading range between $2100-2300. To become bullish again, longer-term, it needs to go above $2300.
10Y yield, on 92-96 BUY onpath, notxxed(true), juxtaposed, 99 days, +54.62% (also, 16-20 on SELL; 35-39 on BUY; 92-96 on BUY; 218-222 on BUY)
*comment: 10Y yield is in a true bull market. The price has beaten my target of 2.3% and shot straight to 2.5%. The 2.5% should prevent further advance for a while. I expect a correction to take place between 2%-2.5%. To end the bull market yields need to fall back down to 1.5%. I don't think that is very probable but 1.7% is not out of the picture.
XAU, on 92-96 BUY, true BUY, onpath, notxxed, 42 days, +30.71% (also, 16-20 breaking to BUY; 35-39 on BUY; 92-96 on BUY; 218-222 breaking to BUY; current $162.25)
*comment: the XAU is on a true bull signal. The first target has been hit so I expect a trading range between $140-165.
ASA, on 35-39 BUY, true Buy, onpath, notxxed, 41 days, +11.72% (also, 16-20 breaking to SELL; 35-39 on BUY; 92-96 breaking to SELL; 218-222 on SELL)
Bitcoin, on 35-39 BUY, onpath, notxxed(true), 10 days, +4.32% (also, 16-20 on SELL; 35-39 on BUY; 92-96 breaking to BUY; 218-222 on SELL; current $46423)
*comment: The $34-36K area survived the test and the new 35-39 buy signal is now leading to test the upper resistance at $48-52. If the 92-96 buys and can hold for a while a new bull market will be underway. The chart structure is correct for such an outcome so let's see what happens.
COPX Copper miners, on 35-39 BUY, onpath, xxed, 66 days, +27.83% (also, 16-20 on SELL; 35-39 on BUY; 92-96 on BUY; 218-222 on BUY; current price $46.85)
*comment: COPX broke out of the $38 level. The 16-20 should keep providing support while the price is in process of breaking 2021 high. The support is now at $42ish.
GDX, on 92-96 BUY (double BUY with 35-39), onpath, xxed, 39 days, +23.67% (also, 16-20 breaking to BUY; 35-39 on BUY; 92-96 on BUY; 218-222 breaking to BUY; current $39.14)
*comment: GDX is on a strong double buy signal. 92-96 is in command. The target was hit so consolidation should take place between $34-40.
GDXJ, 92-96 crossed to BUY, onpath, notxxed(true) (also, 16-20 to BUY 45.32/-6.01% or lower; 35-39 on BUY; 92-96 to SELL 44.9/-6.89% or lower; 218-222 on SELL; current price $48.22)
*comment: The 92-96 bought for a true bull market. The SKI indices have lined up in bullish order. An immediate sell is possible but not probable. I wouldn't exclude a correction in the next two weeks down to $44 before the new leg up starts.
GLD, on 92-96 BUY onpath, xxed, 70 days, +6.75% (also, 16-20 breaking to SELL; 35-39 on BUY; 92-96 on BUY; 218-222 on BUY; current $180.37)
*comment: GLD chart is in a bullish configuration. In my opinion, the 16-20 signal was buyable. A drawdown from the recent top shouldn't go lower than $174 if this 16-20 buy is not going to hold.
SLV, last signal 92-96 SELL, 2 days, -0.48% (also, 16-20 on BUY; 35-39 on BUY; 92-96 breaking to BUY (cannot buy tomorrow); 218-222 on SELL; current price $22.63)
*comment: SLV sold the true buy signal for a 6.5% gain. The next market phase will be decided by which signal comes sooner, the 92-96 buy or the 35-39 sell. If the 92-96 comes first it will be a true bull market again with the immediate target at $25.5 and then $27ish. If the 35-39 sell comes first my guess is that the price will be stuck in a trading range between $20.5-23.5 for a few more months. My guess is the 92-96 buy comes first.
TIP, 35-39 crossed to SELL (also, 16-20 on BUY; 35-39 to BUY 123.72/+0.59% or higher; 92-96 on SELL; 218-222 on SELL)
*comment: TIPs are in a bearish configuration. The 35-39 sold again and the price is challenging the recent low. The countertrend rally that I have been expecting seems less probable now but some consolidation until touch/ break of 16-20 is probable.
TLT, on 16-20 BUY, onpath, notxxed(true), 19 days, -3.64% (also, 16-20 on BUY; 35-39 on SELL; 92-96 on SELL; 218-222 on SELL; current price $131.46)
*comment: TLT is in a bearish configuration. The target had been hit so we can expect a short term rally to touch 16-20 at around $134-136.
UCO, on 92-96 BUY, onpath, xxed, 80 days, +113.11% (also, 16-20 to NOT SELL 159.52/-3.89% or lower; 35-39 on BUY, 92-96 on BUY; 218-222 on BUY; current price $165.97)
*comment: UCO rally continues. A bullish triangle has been developing since the early March top, ranging between $130-205. Technically there is no serious resistance before $300.
URA, on 35-39 BUY, onpath, notxxed(true), 19 days, -0.77% (also, 16-20 breaking to BUY; 35-39 on BUY; 92-96 on SELL; 218-222 on BUY; current price $25.84)
*comment: The execution of a true buy 35-39 signal marked a breakout and acceleration. The next target is $30ish but the 92-95 index must be overcome first so I am expecting some range trading between $23.5-26.5 first.
USERX, 92-96 crossed to BUY, onpath, notxxed(true), juxtaposed; run pattern in-progress 1U/1D/
-0.75%perday, xxing=on_off_off (also, 16-20 breaking to BUY; 35-39 on BUY; 92-96 breaking to SELL (cannot sell tomorrow); 218-222 on SELL, current price $13.23)
*comment: The 92-96 bought for the start of a true bull market. It needs to consolidate or rally from here to avoid an instant sell. By the end of April, I am expecting a 218-222 buy to complete the bullish alignment of SKI indices. If we rally strongly starting now I expect $14-14.5ish to be significant resistance. The 16-20 and 35-39 now represent support and long positions should be added to around those levels.
UUP, on 92-96 true BUY, 158 days, +5.21% (also, 16-20 BUY executed today; 35-39 on BUY; 92-96 on BUY; 218-222 on BUY; current price $26.46)
*comment: The price hit the upper boundary of the uptrend channel and that marked a top for now. We should see some consolidation around the current level until the 16-20 is touched/broken.
Australian XGD, on 92-96 BUY, onpath, xxed, 37 days, +20.96% (also, 16-20 crossed to BUY>>to SELL 7273.8/+0.32% or higher; 35-39 on BUY; 92-96 on BUY; 218-222 breaking to BUY; current price $7250)
*comment: The XGD regained the uptrend and established a new high since September 2021 but is hitting a serious resistance around $7400. I think consolidation is taking place between $6500-7400. The chart structure cannot allow for another break below $6300 if the current bullish momentum is to be preserved. The serious support is now around $6500.
Thank you Branko...appreciated
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