SandP, on 35-39 BUY, onpath, notxxed(true), 17 days, -1.44% (also, 16-20 to NOT BUY 4456.59/+0.22% or higher; 35-39 breaking to SELL; 92-96 on SELL; 218-222 on BUY; current $4446)
*comment: The chart is still in a bearish configuration but it is on a 35-39 true buy signal. 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. I am sceptical but everything is possible. As a more probable scenario, I am looking for a retrace back to $4350 to touch/buy 16-20. Then we will see. NEW: So far so good, the 16-20 is breaking towards the buy, as expected. In the next two weeks, we will see if the price is going to challenge the 218-222 or the 16-20 buy is going to mark the bottom. If the 218-222 is challenged and it breaks down we might be witnessing the start of a serious crash probably down to $3660. For now, this is still far away but this is the condition to watch. As a confirmation 10y yield should be monitored too. The 218-222 breakdown would be accompanied by yields surging quickly above 3-3.2%. Currently, yields look like they need a pause before a further advance if any.
HUI, on 92-96 BUY (double BUY with 35-39), onpath, xxed, 62 days, +31.09% (also, 16-20 on SELL; 35-39 on BUY; 92-96 on BUY; 218-222 BUY executed today; current $329.85)
*comment: The HUI broke free, the chart is bullish. The SKI bullish structure is developing nicely and any future drop will be met with the 16-20 and 35-39 support. A steady rise should continue, first target $350. The trend support is in the $305-310 range, then $280-300.
Nasdaq, last signal 35-39 SELL, 3 days, +1.73% (also, 16-20 to NOT BUY $13923/+2.05% or higher; 35-39 breaking to BUY; 92-96 on SELL; 218-222 SELL executed today; current $13643)
*comment: The chart is in a bearish configuration. This 35-39 sell makes 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 buys back quickly that will turn short term configuration bullish again with a possibility to attack that $16K target. The bearish scenario is the 35-39 doesn't buy back and the price drops to $12500ish and tests/exceeds the previous low. I think the chances are 50:50 between these two scenarios until the last week of Apr. If the 35-39 doesn't buy back in this period the bullish scenario goes out of the picture very quickly. So, it is a do or die time for the tech sector.
Russell, 16-20 BUY executed today, onpath, xxed (also, 16-20 breaking to SELL; 35-39 breaking to BUY; 92-96 on SELL; 218-222 on SELL; current $2025)
*comment: Russell is in a bearish configuration and an attempt to break into the old trading range $2100-2300 was rejected. On the other hand, the 35-39 sell has cleared all xxing and a new 35-39 buy would be clearly short term bullish with an implication that a rally to $2300 is possible. To become bullish again, longer-term, it needs to go above $2300. The most probable scenario for me is still a test of the bottom of the recent range at $1900. This bottom must hold in order to prevent a serious leg down that could take us quickly all the way to $1650.
10Y yield, on 92-96 BUY onpath, notxxed(true), juxtaposed, 106 days, +72.24% (also, 16-20 on SELL; 35-39 on BUY; 92-96 on BUY; 218-222 on BUY; current 2.69%)
*comment: 10Y yield is in a true bull market. The price has broken above the recent high and heading towards 3%. If the acceleration continues we should start worrying about the equity markets. A stock market melt-up scenario that many analysts predict doesn't seem probable before yields stop rising and consolidate. Currently, the price is hitting the upper boundary of the trending channel which makes it probable to consolidate/retrace to hit touch 16-20. The 2.77% should be a top for a while.
XAU, on 92-96 BUY, true BUY, onpath, notxxed, 49 days, +35.03% (also, 16-20 on SELL; 35-39 on BUY; 92-96 on BUY; 218-222 crossed to BUY>>to SELL 162.05/-3.32% or lower; current $167.62)
*comment: the XAU is on a true bull signal. A 218-222 buy signal was generated today to complete the bullish alignment of the SKI indices. A steady rise should continue but that doesn't mean we will not have consolidations along the way. A medium-term target is $196. The trend support in the $150-155 range.
ASA, on 35-39 BUY, true Buy, onpath, notxxed, 48 days, +12.29% (also, 16-20 to BUY 22.47/-1.66% or lower; 35-39 breaking to SELL; 92-96 breaking to SELL; 218-222 on SELL)
Bitcoin, on 35-39 BUY, onpath, notxxed(true), 2 days, +2.8% (also, 16-20 breaking to SELL; 35-39 breaking to SELL; 92-96 breaking to BUY; 218-222 on SELL; current $41251)
*comment: The $34-36K area survived the test and the new 35-39 buy signal led to the testing of the upper resistance at $48K. The $48K (92-96 index) rejected the rise that could have led to a new bull market. After yesterday's simultaneous 16-20 and 35-39 buy a possible rise above $45K would generate a 92-96 buy to complete a powerful triple buy, similar to the gold sector. Only the continuation of the crash down below $35K will prevent this bullish scenario to realise. This is a very interesting situation and it does aline with the 'do or die' setup in Nasdaq. I am on the verge of pulling the trigger here.
COPX Copper miners, on 35-39 BUY, onpath, xxed, 73 days, +26.08% (also, 16-20 breaking to BUY; 35-39 on BUY; 92-96 on BUY; 218-222 on BUY; current $46.21)
*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 $42.5-43.5.
GDX, on 92-96 BUY (double BUY with 35-39), onpath, xxed, 46 days, +28.56% (also, 16-20 on SELL; 35-39 on BUY; 92-96 on BUY; 218-222 BUY executed today; current $40.69)
*comment: GDX is on a strong double buy signal. 92-96 is in command. A steady rise should continue but that doesn't mean we will not have consolidations along the way. A medium-term target is at $45ish. The trend support is in the $37-38 range.
GDXJ, on 92-96 BUY, onpath, notxxed(true), 7 days, +8.71% (also, 16-20 breaking to BUY; 35-39 on BUY; 92-96 on BUY; 218-222 on SELL; current $50.65)
*comment: The 92-96 bought for a true bull market. The SKI indices have lined up in bullish order. Today the price clearly broke out of the $49 resistance. The immediate target is $55ish. The trend support is around $46.
GLD, on 92-96 BUY onpath, xxed, 77 days, +9.28% (also, 16-20 breaking to BUY; 35-39 on BUY; 92-96 on BUY; 218-222 on BUY; current $184.65)
*comment: GLD chart is in a bullish configuration. The 16-20 signal was buyable. The trend support is between $175-178.
SLV, on 92-96 BUY, onpath, notxxed(true), 3 days, +2.59% (also, 16-20 crossed to SELL; 35-39 on BUY; 92-96 breaking to SELL; 218-222 on SELL; current $23.75)
*comment: SLV bought back the 92-96 index for its true bull market. The SKI structure is appropriate. I am very bullish here, the immediate target at $25.5 and then $27ish. The SLV true buy is the last piece of the puzzle in the overall bullish picture in the gold/silver sector. ALL indices are now aligned in a bullish manner and that is my major criteria for confirming valid signals. The last time this happened was in 2005.
TIP, last signal 35-39 SELL, 7 days, -0.76% (also, 16-20 on BUY; 35-39 on SELL; 92-96 on SELL; 218-222 on SELL, current $121.18)
*comment: TIPs are in a bearish configuration. The 35-39 sold again and the price broke down and is now targeting the $119-120 region. The countertrend rally that I had been expecting seems less probable now but after hitting the target some consolidation until touch/ break of 16-20 is probable.
TLT, on 16-20 BUY, onpath, notxxed(true), 26 days, -9.68% (also, 16-20 on BUY; 35-39 on SELL; 92-96 on SELL; 218-222 on SELL; current $123.22)
*comment: TLT is in a bearish configuration. The price has touched the lower boundary of the trend channel so we can expect a short term rally to touch the 16-20 at around $128-130. If the crash continues an immediate market crash becomes more probable.
UCO, on 92-96 BUY, onpath, xxed, 87 days, +122.2% (also, 16-20 breaking to BUY; 35-39 on BUY, 92-96 on BUY; 218-222 on BUY; current $173.05)
*comment: UCO rally continues. A bullish triangle has been developing since the early March top, ranging between $130-205. I expect a resolution to the upside in the next two weeks. Technically there is no serious resistance before $300.
URA, on 35-39 BUY, onpath, notxxed(true), 26 days, +8.83% (also, 16-20 on SELL; 35-39 on BUY; 92-96 breaking to SELL; 218-222 on BUY; current $28.34)
*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. NEW: Consolidation seems over, the 92-96 buy signal has been generated. The buy signal didn't mark the top, a strong rally to $30 and above is likely to take place. The structure is in place now. Short term trend support is around $27, longer-term $24.
USERX, on 92-96 BUY, onpath, notxxed(true), juxtaposed; 8 days, +2.72%, run pattern in-progress 1D/2U/+1.9%perday, xxing=on_off_off (also, 16-20 breaking to BUY; 35-39 on BUY; 92-96 breaking to SELL; 218-222 on SELL, current price $13.59)
*comment: The 92-96 bought for the start of a true bull market. An instant 92-96 sell signal is not possible anymore. By the end of April, I am expecting a 218-222 buy to complete the bullish alignment of SKI indices. I expect $14-14.5ish to be significant resistance so that is the first target. The 16-20 and 35-39 now represent support and long positions should be added to around those levels. Short term trend support is at $12.5-13.
UUP, on 92-96 true BUY, 165 days, +6.2% (also, 16-20 on SELL; 35-39 on BUY; 92-96 on BUY; 218-222 on BUY; current price $26.71)
*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, 44 days, +23.79% (also, 16-20 SELL executed today; 35-39 on BUY; 92-96 on BUY; 218-222 on SELL; current $7420)
*comment: The XGD price is approaching $7400 again. This level has been a firm obstacle to further advance during the last 3 weeks. If the breakout fails again, which I think is probable, we should fall back into the symmetrical triangle that has been developing since the beginning of March. The bottom boundary of the triangle should be revisited at around $6800 before the new attempt to breakout. If and when the breakout happens it will be marked by a new 218-222 buy signal with an immediate target of $8000 and then $9000+. If $6800 cannot hold the next support is around $6500.
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