GDX Weekly

Nearing the .618 retracement of the mega rally off Mar 2020 lows.   https://www.tradingview.com/x/Rivsv3kt/ 

OIH - minor symmetry break on this morning's bounce.  RTM oppty so far.

60m - shows the sell off from mid-June with bounces noted: https://www.tradingview.com/x/t4iFPqZ2/ 

Daily - shows fibs from Mar 2020 and Aug 2021 lows.  Note the cluster around 220 where it found support last week: https://www.tradingview.com/x/uU3AzJvT/ 

VVIX  daily -   I think that these indicators can be pretty spurious in this kind of chop, but is worth keeping an eye on.

I can't tell which view I like:

 1) MACD and stochs pinching down, with price well below 110 and looking like they could slice through the mid BB - https://www.tradingview.com/x/GmY78SSl/ 

2) MA ribbon pinching; possible bounce - https://www.tradingview.com/x/QXZCBlj2/

No dog in this fight personally.  Is a great time to sit things out and wait for a trend to take root.

SRS - https://www.tradingview.com/x/uUrgGl26/ 

IWM   15m - powered through VWAP - so far   https://www.tradingview.com/x/EZaavWwo/ 

UNG 

https://www.tradingview.com/x/WEQoeXxK/ 

Wise words as evidenced by the selloff as the futures opened.  Thanks Steve.

Really like to see those big green bars into the close!

Here is hoping we can sustain a rally for more than 1.5d.

IWM - watching closely here,

https://www.tradingview.com/x/zx1bIivS/ 

Maybe breaks trend line & blasts off, maybe carves out a right shoulder, maybe heads straight for the ditch...  Interesting times.

Whaaaa?

Was going to post on UNG  - 60m view - little poke below trendline.  Worked out well last time, but betting on a repeat on inventory day is a little risky...

https://www.tradingview.com/x/2nUxi0iz/ 

GDX

https://www.tradingview.com/x/Ls36RXvq/ 

IWM 5m chart - https://www.tradingview.com/x/8F2FQif7/ 

Kobie-style look at today's price action.  Possible ABC move down to bottom of Frin-Mon range.

Watching IWM  here

15m - holding the trend line after Friday's gap - https://www.tradingview.com/x/HMNHrHTU/

120m -MAs pinching here - https://www.tradingview.com/x/GDmM17Ry/

I could see it breaking up to 185 or down to 171 in the next day or so.

@Steve - in the intro to last night's newsletter you mentioned that you noticed changes to (secondary & primary) liquidity a while back.

How do you track/monitor that?  Is it simply bid/ask spreads or do you have indicators or indexes that you follow?

Appreciate any insights.

Looking more like kiss it goodbye...

https://www.tradingview.com/x/P1Kq55a9/ 

IWM 5m - potential MACD Kiss set up.

5m - Chart w/ sym on this morning's advance:   https://www.tradingview.com/x/6kXXAmNq/ 

SPY - 120m view - looks like a few more gyrations left in a falling wedge...

https://www.tradingview.com/x/bW5KJ1kv/

It is VWAP - worth a quick study to begin to understand.   https://www.investopedia.com/terms/v/vwap.asp 

I often reflect on this bit:

Institutional buyers including mutual fundsuse VWAP to help move into or out of stocks with as small of a market impact as possible. Therefore, when they can, institutions will try to buy below the VWAP, or sell above it. This way their actions push the price back toward the average, instead of away from it.

Which means that when price is stretched from VWAP, the likelihood of a reversion to mean (in this case VWAP) is higher than not - can be useful for timing entry/exits intraday.  Intra-day,  bears repeating.

it is a common indicator that you can add to your charts on whatever platform you use.  Tradingview will only show it on intraday time frames.

Better img: https://www.tradingview.com/x/c5wVz7CZ/