The State Of Indices

 SandP, on 35-39 BUY, onpath, notxxed(true), 24 days, -4.78% (also, 16-20 breaking to SELL; 35-39 to NOT SELL 4363.62/+1.57% or higher; 92-96 on SELL; 218-222 on BUY; current $4296)

*comment: The chart is in a bearish configuration. The 16-20 bought, as expected, and now we can say it definitely didn't mark the low. $4350 is breached to the downside again and in my opinion, the test of the 218-222 support is now inevitable. If the 218-222 breaks down either it will mark the low, as it did every time it was touched since it bought, in May 2020 or it will mark the breakdown with an immediate target at $3804 and then at $3660. $4114 is the February low so it better not be violated. Do or die time. p.s. Watch the 10y yield, if it is steady or falling while the $4114 is being tested most probably there will be the bottom at that level again. If the yield is sharply rising over 3% a breakdown is in progress. NEW: Very interesting action today! The price gapped down and fell down to $4200, bellow all 218-222 back prices, and then reversed and closed above all of them and positive for the day. Combined with the 10Y yield falling at the same time it seems to me like the price action indicates an attempt to put in a low. It is too early to know but now we have more parameters to watch for the potential breakdown. If in the next few days the price closes below today's low ($4200) the 218-222 will sell and I'd say we go down quickly from there. See the targets above.

HUI, on 92-96 BUY (double BUY with 35-39), onpath, xxed, 69 days, +14.84% (also, 16-20 crossed to BUY; 35-39 breaking to SELL; 92-96 on BUY; 218-222 crossed to SELL; current $288.95)
*comment: The HUI broke free, the chart is bullish. The SKI bullish structure is developing nicely. The short term support has been violated but the 16-20 is most probably buying on Monday to keep from further sinking. Also, the 35-39 support is in close vicinity for more help. If we have peaked medium-term and for the purpose of maintaining the bullish structure the most important thing now is to put a higher low in place. The price of the low doesn't matter so much but anything above $280 will do. Even a lower price is ok (up to $260) if just temporary. The time frame for the bottom is between one and two months, so from mid-May till mid-June. This is all under the condition that we have peaked, if not the upside target is still $350. NEW: Simultaneous signals were generated today 16-20buy/218-222sell. This might mark the low especially because the price dipped down to 282.13 intraday, which is close to 50% Fibo, and then reversed. It'll take a few days to buy back the 218-222 to confirm if the bottom is in. If the 35-39 sells I expect a sideways move to develop and last for a few weeks.

Nasdaq, on 16-20 BUY, onpath, xxed, 6 days, -2.46% (also, 16-20 on BUY; 35-39 breaking to BUY; 92-96 on SELL; 218-222 breaking to BUY; current $13004)
*comment: The chart is in a bearish configuration. The 35-39 sell made 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 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. NEW: We are in the last week of April and the price action followed the second scenario from above, it is dangerously close to $12555. This is the last line of support and if it breaks the first target is $12023 but ultimately $11004-11404.

Russell, last signal 35-39 SELL, 2 days, +0.7% (also, 16-20 on BUY; 35-39 breaking to BUY; 92-96 on SELL; 218-222 on SELL; current $1954)
*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. NEW: The 35-39 buy was instantly sold. That is not bullish but the price is still above $1894 (it dipped to $1908 today and then reversed). Let's see if it can hold.

10Y yield, on 92-96 BUY onpath, notxxed(true), juxtaposed, 113 days, +81.15% (also, 16-20 on SELL; 35-39 on BUY; 92-96 on BUY; 218-222 on BUY; current 2.83%)
*comment: 10Y yield is in a true bull market. The yield reached the 3% level briefly and then retraced. Rising over 3% seems almost inevitable but I expect it to consolidate or retrace very soon. The short term support is at 2.5-2.6%. The consolidation should temporarily relieve the pressure on the broad markets. NEW: The broad markets reversed intraday today and the yield fell. We will see if this can be the top for yields or just a pause before the 16-20 is hit and the rally resumes. This is the most important chart to follow at the moment.

XAU, on 92-96 BUY, true BUY, onpath, notxxed, 56 days, +17.46% (also, 16-20 crossed to BUY; 35-39 breaking to SELL; 92-96 on BUY; 218-222 SELL executed today; current $145.8)
*comment: the XAU is on a true bull signal. The short term support has been violated but the 16-20 bought today with the potential to mark a low. Also, the 35-39 support is in the close vicinity for more help. If we have peaked medium-term (218-222 buy signal has quickly sold) and for the purpose of maintaining the bullish structure the most important thing now is to put in a higher low in place. The price of the low doesn't matter so much but anything above $140 will do. Even a lower price is ok (up to $136) if just temporary. The time frame for the bottom is between one and two months, from mid-May till mid-June. This is all under the condition that we have peaked, if not the upside target is still $196. NEW: Price hit the 50% Fibo intraday and reversed. This should mark a short term low. The 218-222 will buy back soon if the plunge has finished. I expect sideways for a while.

ASA, 35-39 crossed to SELL (also, 16-20 on BUY; 35-39 crossed to SELL>> to BUY 23.31/+12.72% or higher; 92-96 on BUY; 218-222 on SELL; current $20.68)

Bitcoin, 35-39 SELL executed today (also, 16-20 on BUY; 35-39 breaking to BUY; 92-96 to BUY 40680/+1.19% or higher; 218-222 on SELL; current $40201)
*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 the 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 but I will wait for the signal. NEW: The 35-39 sold so there is no triple buy set up anymore but it has been replaced with the 92-96 true buy possibility in the next few days.

COPX Copper miners, 35-39 crossed to SELL (also, 16-20 BUY executed today; 35-39 to BUY 44.88/+11.56% or higher; 92-96 on BUY; 218-222 on BUY; current $40.23)
*comment: COPX broke out of the $38 level. The 16-20 buy today combined with the 35-39 sell should be providing support here. $40 should hold for the bullish case to stay strong.

GDX, on 92-96 BUY (double BUY with 35-39), onpath, xxed, 53 days, +12.7% (also, 16-20 crossed to BUY; 35-39 breaking to SELL; 92-96 on BUY; 218-222 crossed to SELL; current $35.67)
*comment: GDX is on a strong double buy signal. 92-96 is in command. The short term support has been violated but the 16-20 bought today at the same time when 218-222 sold, usually a sign of some kind of a bottom. Also, the 50% Fibo retracement was hit today before the intraday reversal. If we have peaked medium-term and for the purpose of maintaining the bullish structure, the most important thing now is to put a higher low in place. The price of the low doesn't matter so much but anything above $34 will do. Even a lower price is ok (up to $33) if just temporary. The time frame for the bottom is between one and two months, so from mid-May till mid-June. This is all under the condition that we have peaked, if not the upside target is still at $45ish.

GDXJ, on 92-96 BUY, onpath, notxxed(true), 14 days, -5.8% (also, 16-20 crossed to BUY; 35-39 breaking to SELL; 92-96 on BUY; 218-222 on SELL; current $43.89)
*comment: The 92-96 bought for a true bull market. The SKI indices have lined up in bullish order. The short term support has been violated but the 16-20 bought for some support. Also, the 35-39 support is in the close vicinity for more help. If we have peaked medium-term and for the purpose of maintaining the bullish structure the most important thing now is to put a higher low in place. The price of the low doesn't matter so much but anything above $43 will do. Even a lower price is ok but it would be suspicious because it would go under 200 days SMA so it should be very brief. The time frame for the bottom is between one and two months, so from mid-May till mid-June.

GLD, on 92-96 BUY onpath, xxed, 84 days, +4.78% (also, 16-20 crossed to BUY>> to SELL 180.58/+1.99% or higher; 35-39 to NOT SELL 180.8/+2.12% or higher; 92-96 on BUY; 218-222 breaking to SELL; current $177.05)
*comment: GLD chart is in a bullish configuration. Currently, the price is in an ascending triangle which should resolve to the upside by the last week of May 2022. The triangle resistance is at $185. The trend support is between $175-178 and is rising (we closed right in the middle of this range today).

SLV, on 92-96 BUY, onpath, notxxed(true), 10 days, -5.7% (also, 16-20 breaking to SELL; 35-39 crossed to SELL; 92-96 on BUY; 218-222 on SELL; current $21.83)
*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 16-20 has been bought and this support is buyable. If it is not able to hold the next support is at $21.5ish maybe even lower but it is all good as long as the 92-96 is holding.

TIP, last signal 35-39 SELL, 14 days, -0.64% (also, 16-20 on BUY; 35-39 on SELL; 92-96 on SELL; 218-222 on SELL, current $121.33)
*comment: TIPs are in a bearish configuration. The 35-39 sold again and the price target at the $120 has been achieved therefore some consolidation until touch/ break of 16-20, around $123ish, is probable.

TLT, on 16-20 BUY, onpath, notxxed(true), 33 days,
-11.16% (also, 16-20 on BUY; 35-39 on SELL; 92-96 on SELL; 218-222 on SELL; current $121.19)
*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, 94 days, +98.19% (also, 16-20 to SELL 157.05/+1.75% or higher; 35-39 breaking to SELL, 92-96 on BUY; 218-222 on BUY; current $154.35)
*comment: UCO rally continues. A bullish triangle has been developing since the top in March 2022. The current breakout level is $180ish, and the support is $150ish. I expect the triangle to be broken to the upside signalling the start of a new leg up. The timeframe is mid-May 2022. Technically there is no serious resistance before $300.

URA, on 35-39 BUY, onpath, notxxed(true), 33 days, -8.56% (also, 16-20 crossed to BUY; 35-39 breaking to SELL; 92-96 to NOT SELL 24.72/+3.82% or higher; 218-222 on BUY; current $23.81)
*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. Short term trend support is around $27 and it was hit today. Longer-term support is at $24. NEW: The price is moving toward the long term support ($24). If the 92-96 quickly sells and rebuys without selling the 35-39 a new bull market will be born.

USERX, on 92-96 BUY, onpath, notxxed(true), juxtaposed; 15 days, -7.33%, run pattern in-progress 1U/3D/
-3.33%perday, xxing=on_off_off (also, 16-20 crossed to BUY>>to SELL 13.33/+8.73% or higher; 35-39 breaking to SELL; 92-96 on BUY; 218-222 on SELL, current $12.26)
*comment: The 92-96 bought for the start of a true bull market. The short term support has been violated but the 16-20 bough for a short term support. Also, the 35-39 support is in the close vicinity for more help. If we have peaked medium-term and for the purpose of maintaining the bullish structure the most important thing now is to put a higher low in place. The price of the low doesn't matter so much but anything above $12 will do. Even a lower price is ok (up to $11.5-11.75) if just temporary. The time frame for the bottom is between one and two months, so from mid-May till mid-June. This is all under the condition that we have peaked, if not the upside target is still $14.-14.5.

UUP, on 92-96 true BUY, 172 days, +8.07% (also, 16-20 on SELL; 35-39 on BUY; 92-96 on BUY; 218-222 on BUY; current $27.18)
*comment: The UUP is in the true bull configuration. The recent top has been exceeded so that's that. The price is now approaching the $27.19 level which is the most important for this UUP chart. That level marked the 2008 high during the GFC and it has been a concrete wall for the price appreciation except for a few days during the initial panic of the Covid crisis. If this level can be taken out the dollar will go ballistic with the UUP target at $33.52. current support is $26.4ish. NEW: Today's close is 27.18! This either is the top or the dollar will explode higher.

Australian XGD, on 92-96 BUY, onpath, xxed, 49 days, +22.01% (also, 16-20 on SELL; 35-39 on BUY; 92-96 on BUY; 218-222 on BUY; current $7313)
*comment: The XGD finally broke $7400. The 218-222 bought and I think that confirms the breakout. The next stop is $8000, then 9000+ but we might see the consolidation first. The trend support is around $7000, then $6500ish. NEW: As expected the consolidation started, and the price is falling back towards the support. The $7000, supported by the 16-20 index, should hold at least during this first wave down. If we have peaked medium-term the higher low should be put in during the next month or two and it should be above $6500.