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Gold futures been wild trading

Posted by racerick on 22nd of May 2020 at 08:20 am

Gold futures been wild trading past hour, from around 7:30 - 10 pt move down and a 12 pt bounce in 50 min.

Got up early today (3:45

Posted by steve on 22nd of May 2020 at 07:54 am

Got up early today (3:45 am) to cover a few hedges (and overnight on ES ) - very volatile Globex Session

ES has bounced back to just above 50% Fib retrace

ES Globex  Range 2903.75-2952.50

Bearish Megaphone mid point backtest.

Posted by goldnice on 22nd of May 2020 at 12:56 am

Bearish Megaphone mid point backtest. Fits the fundamental backdrop which is the worst since 1930. If we breakout over 30k we will re evaluate this bearish setup.

HI Goldnice, can you pls chart one for MJ to see where its potential pattern target may be by next yr?  thanks if you can do that, cos your charts are marvelous!



Living through history.

Posted by goldnice on 21st of May 2020 at 10:07 pm

Living through history.

Fantastic chart showing that the

Posted by goldnice on 21st of May 2020 at 10:02 pm

Fantastic chart showing that the last 3 times gold's RSI hit 70 since 1973 there was a subsequent explosion in price that lasted years. We are at the cusp of the 4th RSI 70 in gold today. 

HMMJ Marijuana Stocks ETF. Looks

Posted by goldnice on 21st of May 2020 at 09:22 pm

HMMJ Marijuana Stocks ETF. Looks like we have the potential for a bullish {Cup} setup here. The downtrend line from Jan 2020 has been broken to the upside. $9.65 triggers long. Plenty of time to stalk this setup.  MJ CGC TLRY ACB APHA CRON VFF 

Thursday Newsletter

Posted by steve on 21st of May 2020 at 08:00 pm

Not liking labeling a wave

Market commnets

Posted by steve on 21st of May 2020 at 05:04 pm

Not liking labeling a wave d that is above a wave b - instead looks like a 5th wave completion of some degree following that abc (4th wave). Not yet confirmed 

https://stockcharts.com/h-sc/ui?s=%24SPX&p=10&b=5&g=0&id=t9718056861c&a=627027475&r=1590093781060&cmd=print

Regarding the $SPX 2 hour chart,

Market commnets

Posted by CopperMtn on 21st of May 2020 at 05:02 pm

Regarding the $SPX 2 hour chart, if wave (d) is in at 2980 or so, where would a wave (e) measure to? 

SPX 2980 likely some degree

Posted by steve on 21st of May 2020 at 04:19 pm

SPX 2980 likely some degree of top - hedging today as a start would add to hedges on reflex move higher and cover on stronger move 

CRON took off also about

TLRY Daily Chart

Posted by EdZ on 21st of May 2020 at 03:42 pm

CRON took off also about the same time. Got an alert on CRON but TLRY looked better.  Article was posted today abut cannabis could prevent and treat coronavirus.

Update: GDX and DUST follow up

GDX and DUST follow up

Posted by matt on 21st of May 2020 at 03:37 pm

DUST - Chart Link - 15 min view of DUST, sort of an abc pullback flag look on this pullback after the initial run

DUST - Chart Link - here's the 60 min view

GDX - Chart Link - as you know earlier I said GDX was likely bounce near the 20 day MA which is what it did today

look at that A-B-C 0ff

TLRY Daily Chart

Posted by retirefire on 21st of May 2020 at 03:34 pm

look at that A-B-C 0ff the 2.43 low

Matt, im still monitoring SLB

Posted by twitcraft on 21st of May 2020 at 03:24 pm

Matt, im still monitoring SLB and NURO. still think these are viable ideas?

TLRY Daily Chart

Posted by EdZ on 21st of May 2020 at 03:21 pm

TSLA amazing reversal and now

Posted by arun on 21st of May 2020 at 03:05 pm

TSLA amazing reversal and now HOD

Reminder: Holiday Weekend Upcoming with

Posted by steve on 21st of May 2020 at 03:01 pm

Reminder: Holiday Weekend Upcoming with Markets Closed on Monday for Memorial Day

JO 60 Updated View

Posted by steve on 21st of May 2020 at 02:57 pm

JO - Chart Link - bear flag broke down from Tuesday

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