Rookie398476049358670

Rookie398476049358670

XOM has put in the top for the most recent round of rally. Negative divergences about to play out. Would really get ugly if SPX revisits below 2700.

Rookie398476049358670 Updated 

Well, this should have been on twitter. Nothing technical. Surprisingly high CPI may cause FED to be unexpectedly Hawkish tomorrow. If this plays out, then gold could see a final washout before ripping upwards as inflation rips through the financial system. However, notice there are also other signs showing that perhaps FED will end its rate hike soon. This...

Rookie398476049358670

Like many other stocks in gold mining sector, I believe KGC is now ready to explode MUCH higher compared to its current trading level. Daily chart shows that the stock has been building energy: bullish obv showing accumulation, bullish divergence on RSI and PPO, and the stock is testing its 50 day moving average. Central bank decision will decide its near term...

Rookie398476049358670

WOOD is now ready to be shorted. The run is over extended, and OBV has already broken down. Pullback expected back to at least 72 level in the long run.

Rookie398476049358670 Updated 

Chart tells all. Bullish divergence on RSI and MFI. Break out has higher than average volume and OBV confirmation. It's just a matter of time before this thing rips towards the upside.

Rookie398476049358670

If my drawing is on point, then JNUG closed today's action by backtesting the down trendline. Problem is, will it be able to sustain it?

Rookie398476049358670 Updated 

Definitely bearish short term. But I'd watch the reactions at the downward and upward trend line.

Rookie398476049358670 Updated 

ES and NQ are wobbling high, while VIX just tested its downward trend line and the bottom of the gap. Should we see a nice bounce from here, then probably some blood for SPY and QQQ sometime during the week.

Rookie398476049358670 Updated 

Wedge over-thrown is often the beginning of a breakdown, especially at the apex of the wedge.

Rookie398476049358670 Updated 

Market is starting to roll over. I'm expecting some major correction as we saw in February.

Rookie398476049358670 Updated 

Gold has had a huge run over the past week, regaining 1300 level. However, the run up appears exhausted (at least up to now), and we are not seeing any impulsive buying even after the downward trendline broke intraday today. Looking back at the last minute of gold before it broke out of its downtrend last time, it clearly formed an inverse H&S pattern. So based on...

Rookie398476049358670 Updated 

DXY has bounced off 93.6 level and is now perching above a new trend line. However, the upside is limited as it has tested the trend line of the bearish wedge. GBPUSD and EURUSD are showing more signs of shooting higher, and I believe once DXY breaks below the trend line after the bounce, the show will be over. Could see some big drop this week.

Rookie398476049358670 Updated 

I longed T a while ago, but more evidence is now building up that T could see one more thrust downward to the 31.11 level. 1. Bear flag on daily. Not impulsively moving away from the trend line. 2. Failing to break 32.7 resistance area. 3. OBV continuously going downward, showing more selling pressure.

Rookie398476049358670 Updated 

Hourly chart is showing a potential one more thrust down. Buy that dip.

Rookie398476049358670 Updated 

Today we saw perhaps one of the best days since the February correction in Nasdaq. Economic data looks "strong" (I have negative bias on economy health, so I'm using ""), and markets are up broadly. But, various signs show that today's action looks suspicious. Take NQ, for example. I marked out all recent NFP releases so you can see the market reaction. Notice how...

Rookie398476049358670 Updated 

Despite good reports on NFP. Watch for actions at that level at market opening.

Rookie398476049358670 Updated 

Gold has been squeezed into the apex of the wedge and is now in cruise control. Denied break out, and well respected support. Non-farm payroll data coming up tomorrow morning, which falls within the wedge's time frame so it's very likely that a big move is coming up 9:30 tomorrow morning. From the chart, notice that there are 3 trendlines: 1. Long term...

Rookie398476049358670 Updated 

MU tries to regain the long term trendline. Right now getting rejected. In case it cannot do it today and starts to drift away from it, then expect impulsive selling next Monday.