SandP, on 35-39 BUY, onpath, notxxed(true), 11 days, +0.3% (also, 16-20 on SELL; 35-39 breaking to SELL; 92-96 on SELL; 218-222 on BUY; current price $4525)
*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. NEW: Since the beginning of the bull back in 2020 the 218-222 index was the key support. The price jumped of off it every time it was touched. Last time in Mar 2022 at around $4150. I am expecting this level to be tested soon.HUI, on 92-96 BUY (double BUY with 35-39), onpath, xxed, 56 days, +23.63% (also, 16-20 breaking to BUY; 35-39 on BUY; 92-96 on BUY; 218-222 breaking to BUY; current price $311.09)
*comment: The HUI broke free, the chart is bullish. The first target 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. For the next two-three weeks, I would expect sideways/downside with a probability to touching $280.
Nasdaq, on 35-39 BUY, onpath, xxed, 11 days, +0.68% (also, 16-20 on SELL; 35-39 breaking to SELL; 92-96 on SELL; 218-222 on BUY; current price $14204)
*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/exceed the previous low.
Russell, on 35-39 BUY, onpath, notxxed(true), 12 days, -0.96% (also, 16-20 on SELL; 35-39 breaking to SELL; 92-96 on SELL; 218-222 on SELL; current $2046)
*comment: Russell is in a bearish configuration and it failed to hold on in the old trading range between $2100-2300. To become bullish again, longer-term, it needs to go above $2300 but the more probable scenario is a test of the bottom of the range at $1900.
10Y yield, on 92-96 BUY onpath, notxxed(true), juxtaposed, 100 days, +63.85% (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 broken above the recent high and heading towards 3%. The 2.5% shouldn't prevent further advance for long and my projection of a correction to 2%ish didn't pan out. If the acceleration continues we should start worrying about the S and P 500. A melt-up scenario that many analysts predict doesn't seem probable before the yields stop rising and consolidate.
XAU, on 92-96 BUY, true BUY, onpath, notxxed, 43 days, +27.36% (also, 16-20 breaking to BUY; 35-39 on BUY; 92-96 on BUY; 218-222 breaking to BUY; current $158.09)
*comment: the XAU is on a true bull signal. The first target has been hit so I expect a trading range between $140-165. In the next week or two, we should test where the support is.
ASA, on 35-39 BUY, true Buy, onpath, notxxed, 42 days, +9.19% (also, 16-20 breaking to SELL; 35-39 on BUY; 92-96 to SELL 21.31/-4.1% or lower; 218-222 on SELL)
Bitcoin, on 35-39 BUY, onpath, notxxed(true), 11 days, +3.29% (also, 16-20 on SELL; 35-39 on BUY; 92-96 breaking to BUY; 218-222 on SELL; current $45964)
*comment: The $34-36K area survived the test and the new 35-39 buy signal is now leading to test the upper resistance at $48-52K. 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. NEW: so far the 92-96 is rejecting further advance.
COPX Copper miners, on 35-39 BUY, onpath, xxed, 67 days, +24.17% (also, 16-20 on SELL; 35-39 on BUY; 92-96 on BUY; 218-222 on BUY; current price $45.51)
*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 and I expect to be tested soon.
GDX, on 92-96 BUY (double BUY with 35-39), onpath, xxed, 40 days, +20.95% (also, 16-20 breaking to BUY; 35-39 on BUY; 92-96 on BUY; 218-222 breaking to BUY; current $38.28)
*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 BUY executed today, onpath, notxxed(true) (also, 16-20 to BUY 45.81/-1.67% or lower; 35-39 on BUY; 92-96 to SELL 43.98/-5.6% or lower; 218-222 on SELL; current price $46.59)
*comment: The 92-96 bought for a true bull market. The SKI indices have lined up in bullish order. An immediate sell is possible. 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, 71 days, +6.08% (also, 16-20 breaking to SELL; 35-39 on BUY; 92-96 on BUY; 218-222 on BUY; current $179.24)
*comment: GLD chart is in a bullish configuration. In my opinion, the 16-20 signal was buyable. If this 16-20 buy fails a drawdown shouldn't go lower than $174.
SLV, last signal 92-96 SELL, 3 days, -1.67% (also, 16-20 on BUY; 35-39 on BUY; 92-96 breaking to BUY (cannot buy tomorrow); 218-222 on SELL; current price $22.36)
*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 SELL executed today (also, 16-20 on BUY; 35-39 breaking to BUY; 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), 20 days, -5.81% (also, 16-20 on BUY; 35-39 on SELL; 92-96 on SELL; 218-222 on SELL; current price $128.49)
*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. NEW: consolidation lasted only 6 days and now a new leg down is unfolding. Target $124ish.
UCO, on 92-96 BUY, onpath, xxed, 81 days, +103.58% (also, 16-20 to NOT SELL 153.2/-3.37% or lower; 35-39 on BUY, 92-96 on BUY; 218-222 on BUY; current price $158.55)
*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), 20 days, -1.38% (also, 16-20 breaking to BUY; 35-39 on BUY; 92-96 on SELL; 218-222 on BUY; current price $25.68)
*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, on 92-96 BUY, onpath, notxxed(true), juxtaposed; run pattern in-progress 1U/2D/-1.62%perday, xxing=on_off_off (also, 16-20 breaking to BUY; 35-39 on BUY; 92-96 to SELL 12.32/-4.5% or lower; 218-222 on SELL, current price $12.9)
*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. Short term I expect some weakness.
UUP, on 92-96 true BUY, 159 days, +5.77% (also, 16-20 crossed to SELL>> to BUY 26.46/-0.53% or lower; 35-39 on BUY; 92-96 on BUY; 218-222 on BUY; current price $26.6)
*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.
Australian XGD, on 92-96 BUY, onpath, xxed, 38 days, +19.73% (also, 16-20 BUY executed today; 35-39 on BUY; 92-96 on BUY; 218-222 on SELL; current price $7176)
*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.
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