What a week, our last idea had a neutral stance and correctly so, volatility was extreme. We did know a bottom of sort was in the making or at least temporarily...now the bounce and where to?
If you have not already realised, any ideas other than Trump caused the recent world mayhem, then you are in denial. Any little respect for this Trump quickly evaporated this week as he reversed his lunacy for 90 days pause..make no mistake, the writing is on the wall now, the markets have shown their hands.
He is merely an actor, it's all a theatre and by design...some well informed individuals made a killing on puts and calls the past two weeks at the mass expense of everyone else.
This rally is a rally to sell, expect a push up to 41700-41900 area, no doubt the game has changed, markets topped with a double top back in January, we have only had the first minor wave 1 down and wave 2 up is in progress and to be followed by a severe wave 3 down...rallies are now sold.
Expect a recession declaration in 3-6 months, expect mass fiat printing to come as a wrecking ball takes apart a market that was priced for perfection...what took a few years to build can be taken out completely in a few short weeks, we were there in 2008.
Gold and especially silver were hammered last week, gold quickly shrugged off the fall and a quick minor wave 4 down has been left for dust in a powerful wave 5 up...this wave, very strong, I expect another week or so of rally before topping out, perhaps U.S $3400-500...silver is an economic precious metal and tied to the coming collapse...but it will bottom out and outperform gold in the end.
Summing up: expect a further rally in the Dow to conclude later next week, Gold to soar and top out also...Gold will have a big correction looming, wave 4 down which could last months, thereafter a rally of historic proportions which will align with QE and systemic failures.
Don't be on the wrong side of whats coming, ignore the mainstream media mouth pieces and trust nothing, especially politicians and banks.
Appreciate a thumbs up, God Bless you all and good trading!
If you have not already realised, any ideas other than Trump caused the recent world mayhem, then you are in denial. Any little respect for this Trump quickly evaporated this week as he reversed his lunacy for 90 days pause..make no mistake, the writing is on the wall now, the markets have shown their hands.
He is merely an actor, it's all a theatre and by design...some well informed individuals made a killing on puts and calls the past two weeks at the mass expense of everyone else.
This rally is a rally to sell, expect a push up to 41700-41900 area, no doubt the game has changed, markets topped with a double top back in January, we have only had the first minor wave 1 down and wave 2 up is in progress and to be followed by a severe wave 3 down...rallies are now sold.
Expect a recession declaration in 3-6 months, expect mass fiat printing to come as a wrecking ball takes apart a market that was priced for perfection...what took a few years to build can be taken out completely in a few short weeks, we were there in 2008.
Gold and especially silver were hammered last week, gold quickly shrugged off the fall and a quick minor wave 4 down has been left for dust in a powerful wave 5 up...this wave, very strong, I expect another week or so of rally before topping out, perhaps U.S $3400-500...silver is an economic precious metal and tied to the coming collapse...but it will bottom out and outperform gold in the end.
Summing up: expect a further rally in the Dow to conclude later next week, Gold to soar and top out also...Gold will have a big correction looming, wave 4 down which could last months, thereafter a rally of historic proportions which will align with QE and systemic failures.
Don't be on the wrong side of whats coming, ignore the mainstream media mouth pieces and trust nothing, especially politicians and banks.
Appreciate a thumbs up, God Bless you all and good trading!
Trade closed: target reached
A possibility that today's closing red doji candle may be a top.At 40791 high today we are very close to the underside of the rising trend line.
Another high at 40909 on the 10th April was very close to this trend line...could very well be major resistance.
Closed out longs today and prepare for a reversal short.
Note
We entered short Monday's red doji candle.Reversal confirmed today on truncated upside move.
Note
Taking profits on the short, trade closed.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.