IYT - Transport etf  -  showed that chart earlier  - looks like a head and shoulder forming 

for what it's worth  - DJ transport and industrials have a neg divergence  - 

No. You prove you are right. 

AI

The hypothesis that a double top pattern in the daily RSI (Relative Strength Index) above 70 often leads to a near-term pullback has some support in technical analysis literature. Several sources provide insight into the behavior of RSI in overbought conditions and its implications for potential pullbacks.

1. RSI Overbought Conditions: When the RSI exceeds 70, it indicates that an asset is overbought, suggesting that a pullback may be imminent. Historical data shows that selling signals triggered when the RSI crosses below 70 after being above this level often correlate with short-term price declines ( Quantified Strategies) ( TradingSim).

2. Double Top Pattern in RSI: The double top pattern in RSI, where the RSI hits above 70 twice before pulling back, is considered a bearish signal. This pattern indicates that momentum is weakening, even though the price may be reaching new highs. It often precedes a price reversal or pullback ( Quantified Strategies) ( Quantified Strategies).

3. Backtesting Results: Backtesting of RSI-based strategies generally shows that signals from overbought conditions (RSI > 70) can be profitable. For example, a study of the S&P 500 using a range-momentum trading strategy based on RSI showed that while such strategies do not generate frequent signals, the ones they do produce are often profitable. This implies that overbought conditions, particularly with confirming patterns like a double top, can indeed lead to significant pullbacks ( Quantified Strategies).

Can Matt or Steve weigh in on this?   I closed out my SLV.    Now if I trade SLV again and take a loss, it will not "count" to reduce my income as it will be called a wash sale.   Its really quite shameful the law is like this. 

for stock technical trading I hypothesize that when the wilders RSI 14 daily does a double top about 70, there is a large chance for at least a near term pullback.   Can you find stats to prove or disprove or assign odds at least

Haha. But 80% never gets sent to Ukraine in the first place - most of it goes to enrich the long time Gov / military executives running ITA components. The 20% or less that goes to Ukraine is mostly a bribe.  *FWIW - we look down our noses at bribes in America but it's basically a mandatory part of doing business around the world (I will not provide personal examples on a public website....but I guess just trust me). 

Here's the bulk of the Ukraine funding: 

My conspiracy theory is that 60% of the totally unaccountable money we send to "Ukraine" gets returned to leftist organizations and foundations in the USA as US stocks transferred in kind.   Prove me wrong.

I closed out my SLV, I had a large position, my biggest net profit of last 2 years, nice.    No joke, can buy a house in Japan with that. 

Also closed the SPY proxy for the /MES breakout long, LOL pays Matts fee for the year.

weekly KISS updated as well, and emails sent out

https://breakpointtrades.com/sts_weekly/?search=BPT_basket 

yeah all the silver plays have been on fire for obvious reasons

if you want one that hasn't went parabolic yet, SSRM 

that is MAG-nificient!

It's all in GLD, SLV, FCX, URA, BTC, ETH and SOL....I'm good!  Thanks. 

daily systems are updated. The weekly will be updated shortly - the weekly only updates on Friday for obvious reasons

https://breakpointtrades.com/sts_table/?search=BPT_basket 

Have a nice weekend - and Digi spend some money this weekend before it deflates further 

Meaningless, in fact. Look at Japan - they just announced they've been in recession for 3 quarters, and Germany, and the list goes on. All of the above are either making or have made recent market highs. It's all about currency debasement - almost 100%. Once that variable in plugged in, it all starts to make logical financial sense.  I know my analysis became orders of magnitude less complicated once I figure it out this seemingly obvious but not so obvious fact (the gaslighting is heavy when it comes to getting people to look in other directions for explanations - you get hammered as biased if you say currency dilution is causing market rallies). I was honestly a bit frustrated until it really clicked....and I mean it had to REALLY click...then I was fine. Game on - I just had to understand the game because my stupid personality demands it for some reason. Life would be easier if I just blindly followed trends but that's not me. 

SPX 5300 Pin for OPEX

Economic backdrop - don't equate to Wall Street

MAG - Chart Link - watchlist name with nice move 

AA

RBRK ...