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Week-end post

2017/06/05 at 3:55am Leave a comment

Equities

Stocks are a confirmed buy on harmonics. SSTIS is a confirmed buy with a bull surge signal. 2D MV chart is a confirmed buy. 2D MV chart signals fragile bullish internals: while prices are up, you can see a bearish histo and negative longer-term volume flow.

2017-06-05_RUA2Dff.jpg

As you can see, there is less and less institutional bullish interest in stocks. We have no other sell signal than a fake bull setup on 2D MV chart yet. SVT will remain bearish.

Dollar

Dollar is a confirmed sell on harmonics and will forma  bull node soon.  As you know, after a bull node, price is to go upwards or bounce. As dollar is below of V-MA I don’t count with a sharp and strong bounce but a mid-BB as a target first ($DXY 97.5). The bull node is to arrive in 1-2 trading days and the swing-low target is 96.2

2017-06-05_USD1DTS

SSTIS is a confirmed buy for dollar and it has a bear surge signal now. 2D MV chart is a confirmed sell. The long-term target (weeks if not months) is still the gap of $DXY 99.3. That gap needs to be closed.

Gold, miners

Gold is a confirmed buy on harmonics. Again, gold should fly with the recent bearish turn of dollar but it’s still on the same price as dollar was on $DXY 100s in April. There can be two reasons for this: first is the gold manipulation conteos which leads us nowhere (one week you can read that China manipulates gold prices, next week Russia, then the Arabic states, later the FED etc.), other is the ugly gap on dollar that stops algos and institutional traders about taking heavy positions on PMs. I’d rather about factual trading and, if I need to point to a reason, I’d point to the latter signal: expected mid-term bounce of dollar.  SSTIS is a confirmed buy, 2D MV chart is a confirmed buy as well. SVT will stay with its bullish core position for gold. V-MA position of gold is above V-MA.

2017-06-05_GC1DTS

Miners are a short-term sell with a slight longer-term buy signal on harmonics. While gold made a pretty large intraday rise last Friday, miners reacted with a slight move only instead of performing a vigorous rise. This is a rather bearish signal. SSTIS is neutral in short-term but a sell in longer-term. 2D MV chart is a short-term sell with no long-term confirmation. I’d still rather say that miners are in a triangle consolidation where the resolution will be rather bearish with a primary target of GDX 21.7.

2017-06-05_GDX1DTS

2D MV chart is a short-term sell with a long-term buy signal. Miners should start their correction this week. Position of miners is at V-MA on 2D MV chart,  gold is above V-MA.

Energy, oil

Energy stocks are struggling and below of the bearish trendline we drew in January. We have nothing to do here but wait until price goes above of the trendline. That point we will measure internals and will act accordingly.

2017-06-05_XOI1DTS

Harmonics is a confirmed sell,  SSTIS is a confirmed sell, 2D MV chart is a confirmed sell. Position on 2D is sub V-MA.

Oil is a short-term sell with no long-term confirmation on harmonics. SSTIS is a confirmed sell and has a bear surge signal, 2D MV chart is a short-term sell with no long-term confirmation but we have an MVO bull/bear surge there.  Position is below V-MA.

Oil made a clear spike  below of its trading box in March and now it has a clear target of the swing-low of 29-NOV-2016 (/CL 44.82).

2017-06-05_OIL1DTS.jpg

Trading update: no trade today, hold existing trades

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