I have the first usable version of my new charting program working - stock price download, simple moving average, graphing, scrolling, multiple time periods and save screen.
I tried to duplicate those charts that show a correlation between the Dow and Fed assets. The best I could do was a match in the 2000's and 2019. If it reconnects again then stocks have more melting up to do (or the Fed tapers hard and fast which is unlikely).
Cycle chart. Stock DCL due soon. I hope the dollar bounces off of the 200 because the DCL is a month away. Gold hugging the 200 with a trend line at 1900.
P.S. Who do I talk to fix Insert Image so it stays on the last source used. It is getting old switching back to From Computer every time I attach an image.
On the Upside: Ending the week above $33.00 would be bullish. However, stiff resistance lies just ahead at $34.25 and then again near $37.00. Sustained upside may prove difficult without a significant increase in investment demand. I think as confidence wanes, gold should begin to respond positively.
On the Downside: Closing below today’s $32.50 gap anytime next week would be bearish and could trigger additional downside.
The market just doesn't care..... Well, for now that is!
4th Booster. New mutants...
Some recent relevant COVID headlines:
1. Virus czar calls to begin readying for eventual 4th vaccine dose (The Times of Israel)
2. New COVID variant detected in South Africa, most mutated variant so far (J-Post)
3. A number of mutations suggest that the Mu variant could resist immune defenses and possibly even have a faster transmission than other variants (WHO) https://themarketear.com/
“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side” Jesse L. Livermore
Stephen uses too much click bait but he thinks that a large Chinese company is going bankrupt, the CCP won’t bail them out and their junk bond default will scare everyone.
Published: 2021-09-07 at 0700 CDT
The fundamental outlook is deteriorating. We've seen that in a drumbeat of reports that have disappointed economists in recent weeks.
The SentimenTrader Macro Index Model is designed to track the ebb and flow of an economic expansion. To differentiate "temporary slowdowns" from real problems, we look for SIGNIFICANT macro deterioration. Our Macro Index combines 11 diverse economic indicators to determine the state of the U.S. economy right now.
New Home Sales
Housing Starts
Building Permits
Initial Claims
Continued Claims
Heavy Truck Sales
10 year - 3-month Treasury yield curve
S&P 500 vs. its 10-month moving average
ISM manufacturing PMI
Margin debt
Year-over-year headline inflation
At the end of August, Jay notes that the Macro Index Model dropped from .64 to 0.46. https://www.sentimentrader.com/blog/...24b-1271291994
“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side” Jesse L. Livermore
$XAU weekly: It has remained under the 10 wma for 12 weeks. Waiting on "MY" next weekly buy signal..... Others have already bought. I'm still ST trading the miners using the daily signals. The weekly signals are for MT trades and can last for months..... I be like a grasshopper in this sector. I have lost plenty buying to much, to early, and using leverage.
GDX: Trending down and under the 10 wma
GDXJ: "" "" ""
$HUI:
SILJ:
Bottom Line: I be waiting for "MY" next weekly buy signal and it does look like the weekly cycle low is in. However, I like to wait as see a confirmed trend happening above the 10 wma.
Risk Management!
“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side” Jesse L. Livermore
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