MAgicTrx

MAgicTrx

Did the morbidly obese lady just open her mouth? Let’s see how long loud and high the note is.

MAgicTrx

Well here we are at a 3.5:1 containment MA. Retracement soon likely. But remember a lot of the time just a quick retracement and continuation. Those shorting should not get married to the short position!

MAgicTrx

3 containment MAs shown. None of them extremely overbought BUT if shortest term one fails would likely project to next one down. So that’s one to watch. Next one down would be a 20% or so bear depending on timing. Failing that it could be 35% again depending on speed of the decline.

MAgicTrx

35 then 16 then 10 period containment MAs. This imho is a setup for a crash endo. Prepare for the fat lady to sing.

MAgicTrx

37 16 5 progressively tight containment MAs. This is a market that knows nothing but up. And that is dangerous.

MAgicTrx

11 days above the 8 day median price MA? That’s precarious and susceptible!

MAgicTrx

Is this a head of a head and shoulders? Or is that it? A slightly higher high and nothing? We shall see. Maybe with Friday’s numbers.

MAgicTrx

Just to clarify I’m not just going to stand in front of the speeding locomotive. I will trail my short entry stop just under the current 4 day MA of lows. Currently 2.5 to 1 containment ratio we don’t likely have long. This week probably.

MAgicTrx

After a brief shallow correction, SPY attempts to go higher. I believe it will fail and we will have a more proper correction. A summer high and an autumn Fall.

MAgicTrx

Today was a start. Imho definitely not the end. At least back to the longer term containment MA and likely more as containment ratio over 2.

MAgicTrx

Yeah looks like SPY putting in high might be MAJOR high.

MAgicTrx

Looks to me like SPY will make a high and or VERY significant high about here. Progressive containment MAs now all at 2+:1 or better ratios. Will definitely trade the next several down moves with significant leverage.

MAgicTrx

Like I said. Is it too late now? Not sure. But I’m long and will just trail my stops.

MAgicTrx

Well GLD is really in the pivot zone now. Will it just trigger the long order on its own or will it need news, a number or something else? I have a boat load of OTM calls waiting. Stay tuned!

MAgicTrx

GLD trapped under the highs for 3 years. Now just under the containment MA and that is almost the same as long term zero slope MA. This could be a big week. Do we get a run at the ATHs this month or at least through the summer?

MAgicTrx

Blew through the 64 area zero slope MA. 71 area maybe the next equilibrium price area as that is the next zero slope MA up. Let's see what kind of headway we make and how quick over the next few weeks.

MAgicTrx

Well it took a few extra days but imho this should be a significant low.

MAgicTrx

GLD appears exhausted to the downside. Now we just wait and see if this is a true low and how far and fast the retracement.