i opened GC1! short at 5575. It's a very risky trade. Do not copy trade.
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i opened GC1! short at 5575. It's a very risky trade. Do not copy trade.
MSFT I mentioned a second short opportunity around the 470-480 area the other day. MSFT (Microsoft) failed to recapture the downtrend resistance line and got decimated after earnings after the close yesterday. Coincidence? I don't think so.
CL1!
XAUUSD GC open interest dropped significantly yesterday as price spiked. They tend to go in tandem. Divergence like this usually signals the beginning of a consolidation phase. The lag between the drop in open interest and the final price top varied in the past 24 months for gold. Normally, prices react immediately to such changes.
XLF Weakness in XLF (U.S. Financials ETF), coupled with rising long-end yields, doesn't bode well for equities.
XAUUSD Gold printed higher highs, while silver only printed lower highs.
It could be an early sign of fatigue.
VIX (Cboe Volatility Index) found support at the uptrend line. A confirmed break above 18 could signal further upside. Brace for more volatility in the near term.
XAGUSD Gold broke above 5k and printed 5100, but pulled back into the close and finished below the generational resistance on the daily chart.
Both gold and silver printed shooting stars after a steep run.
If I see further drawdowns, it could mark the start of a consolidation phase for the commodity complex.
I have repeatedly warned to tighten your stop loss on both gold and silver as the move gets steeper. Silver action was a prime example of why trailing stops can work extremely well under extreme conditions.
CL1! A confirmed break above 61.2 is required before entry, with a target of 65 and a stop loss at 60
AMDA short entry at 255-265 area, with stop loss at 270 and target price of 220.
RUT is showing an island reversal, coupled with a shooting star. This is very bearish unless it recaptures quickly.
MSFT (Microsoft) has been a profitable short for those who shorted at 475 and covered much lower. The recent rebound offered another shorting opportunity in the 470 to 480 area.
BTC1! We should see #Bitcoin at 60k if it breaks below this channel support.
Chart: Binance BTCUSDT perpetual · Asset Tag: CME Bitcoin futures (BTC1!).
XAUUSDBoth gold and silver have nearly hit our targets of 5k and 100, respectively.
Gold is now running into generational resistance around 5k. Both gold and silver saw minor pullbacks a few hours ago. That said, this does not mean the frenzy in the commodity complex is over.
I've mentioned this a couple of times: gold tends to outperform pre crisis and post crisis, but not during a crisis.
In other words, gold's rally can continue until equities start to collapse.
I'd tighten stops on gold and silver as the move gets steeper.
AMD
ES1! showing a similar playbook
XAGUSD Gold printed a new ATH at 4888 in the Asia session while silver stalled. It looks like the market is giving gold room to catch up to silver, so they can reach my target prices of 5k for gold and 100 for silver around the same time.
Silver is now sitting more than 30% above the upper Bollinger Band on the monthly chart. Extremes like this do not bode well for equities.
A major correction appears increasingly imminent.
I have written this several times, but it is worth repeating: gold tends to outperform pre and post crisis, but not during a crisis.
JP30Y (Japan 30-Year Yield) exploded higher, as I expected.
JP10Y (Japan 10-Year Yield) exploded higher, as I expected.
BTC1!
Godlike?
You decide.
Chart: Binance BTCUSDT perpetual · Asset Tag: CME Bitcoin futures (BTC1!).
MSFT
NVDA I am placing a stop loss to the NVDA (Nvidia) short position at breakeven, and setting a target price of 168 and 75.
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