one day of trading left this week but that is a strong looking bullish pin bar we have on the weekly chart, if the market is up or flat tomorrow look for testing of old highs in the next couple of weeks
If you listen to the Investor news shows you might be in a panic and think a recession has begun, but before you react to what others are saying, take a step back and look at the weekly chart, does the last 4 weeks really look that bad, is it any worse than the other pullbacks we have seen this year
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Stocks rally late in the week as cracks form in Dems latest political coup, Clearly, this stock market wants Donald Trump to stay, and Dems seem to have no regret if their coup wipes out billions in peoples retirement accounts
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Between China trade deal and Fed bond-buying program ( QE Forever ) US stocks saw huge gains only to give half back by the close. Friday’s daily candle looks like a falling star pin bar, the good thing is nothing really negative on the weekly chart, so maybe we pull back a little further, fill in Friday’s gap and move higher. Politics and the Fed is weighing heavy on short term moves so expect some volatility
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Mixed week for stocks as 14 of my 22 ETF’s posted green weekly candles, New yearly highs in SMH, XHB and RWR but only the Homebuilders and Reits held their gains. best buy signal for buying the dip might be in XLU and XLP
The more the “experts” call for a recession and market collapse the higher we go, Turn off CNBC, ignore Fox Business unsubscribe to financial channels on YouTube. These people have no clue when this bull market will end
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Bulls remain in control as major indexes climb to new all-time highs, the S&P500 is nearing the 25% mark, this might not be a bad time to take a little off the top and weight for the next dip
Another great year for the FANGS, Gold and Silver are in play
We finish the week with a daily bearish engulfing candle in both the S&P and DOW, with no confirmation on the weekly I would expect a minor pullback before continuing the upward trend
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Possible bullish cup/with handle formation in Gold,
My gold strategy is to buy the dips and hold for a hedge should we get a bear market in stocks
we end the week with a bearish engulfing candle, after nearly 4 months of going straight up a 50% pullback down to the 3,100 area followed by some sideways movement would be good for this market, but will we get it is the question
January was mostly a down month for stocks with Utilities leading is a sign of fleeing to safety. the big question is what is the cause, most might blame this on the Coronavirus but I am also looking at the effect of Bernie Sanders, non of his proposed policies can be seen as positive for business growth
