GUMBY9662C

GUMBY9662C

So we completed a wave 5 pattern Friday into critical support with QQQ and DIA showing relative strength. The next 9 trading days tend to be a strong period for the markets with Monday typically the strongest date. I believe bears are about to be disappointed in the short term.

GUMBY9662C

Ver dangerous area here. We are currently in the most overbought situation the market seen in a decade.

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I been around long enough to see this scenario happen back in the 2007 Bear Market. We actually went up just enough today to create a bull trap. This might still be the top of a Bear market Rally. If we do break out of the pitch fork, I will join the bulls as we make new highs. We are right there where anything can still happen in this market. Be careful.

GUMBY9662C

So, we have not seen the confirmation yet that the economy is slowing down. Semi is getting crushed because China is in lock down. These are very high valuation with a likely change to more defensive spending budgets this quarter.

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I have Swing short signals all over the place. SMH, IYT, and XLI leading markets lower to start the Quarter here. The Russel had a real bad day today as the credit markets (junk bonds) are tanking once again. Even Energy looks to be resetting lower.

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DAX possible Head and Shoulders start. We starting March rejecting entire Head in 3 trading days. We setting up for break down next week.

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WE missed the cross yesterday. Today we get it though.

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Historically, trading the cross day to the upside is not a good pay day. Just food for thought.

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Like so many tech charts, we seeing violent decline in the 50 sma. Most likely we cross before week end.

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The whole long GLD trade looks like a no brainer trade for 2022. Huge inflation talk in the economic calendar this week.

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We likely see the cross before the week ends. This not a smart long idea.

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The gold miners are smoking hot right now. I believe we starting a massive move higher in GLD and quite possible the greatest bull market of our life time.

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We might be seeing the DEATH CROSS before weeks end.

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We currently Bear flagging post the cross. I know fear holding bonds at the moment but honestly we need to trade the bigger theme. Bonds in bubble of all bubbles. This is going to get brutal. GOLD screaming tell, I am right.

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Typically, getting the death cross is not a good week for an index. This is a big warning this week to start a new month.

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Well, this one broke the long term Monthly trend and the shorter term uptrend last week. Higher interest rates plus tariffs a double negative for new home construction. Now something to keep on the horizon, all the hurricane construction. This sector likely to get a stimulus rebuilding the South East. On the flip side, I don't see Bonds at support yet so there...

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Friday put in value at the top of the range with a text book 3 day bottoming reversal formation. This sell off came right down to the expected 100% down side move from the consolidation break. There is some reason to think the internet stocks will stabilize at least into NFLX earnings this week. Internet is still holding the intermediate trends well. The big...

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Well, if last year is our blue print retail likely weak into November. My charting suggests we crossed bearish on the intermediate time frame last week. It is barely holding the short term up trend. This looks like a topping formation to me with the 45.50 2018 open back in the cards. There is little doubt retail is holding up better than Transports. Retail is...