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
Daily chart points to a bearish doji star, you also have a short term double top, I see nothing on the weekly to confirm any long term downturn, we are still in buy the dip mode
During this market selloff, the two sectors that have me totally baffled are Consumer Staples and Utilities
The run-on toilet paper falls in the Consumer Staples sector, and if everyone is stuck in their homes I would think their Utility bills would be higher, so why are these sectors falling so hard,
Dow starts the day up 1200 points but until we see two up days in a row I am not buying into this
