Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
The graphic at left, is a segment of biotech tracking ETF, XBI.
Note how it exhibits a repeating pattern of spring-to-up-thrust (S & U).
Today is also Fibonacci ‘Day 5’, from the ‘S’ labeled low.
As seen with gold GLD, slightly higher, not correcting immediately, anything can happen.
However, with XBI, we’re in a multi-year downtrend that may be finishing its countertrend move, ready to up-thrust and reverse lower (not advice, not a recommendation).
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
If there’s any one interview that details what’s really going on, it’s this, link here.
The 48-mintue Kitco session with Bert Dohmen, is much needed straight talk.
It’s all there:
Official data is fake. Markets will (likely) ‘trap’ bulls with massive gap-down. It’s 1929 (again). Crypto is an illusion. Silver/Gold will correct (temporarily) along with the markets. We’re surrounded by bought off media. The population (masses) don’t think or can’t think.
Adding to that are ideas and sources discussed for years on this site, like ShadowStats having ‘real’ data on unemployment and inflation.
The list goes on.
With all that said, let’s look at one of the sectors (retail brokers), that could be hit hard during a surprise downturn.
Robinhood HOOD, Daily
It’s important to note, price action late Friday, began to pull away from the lows … rising into the close.
Just after that close, the announcement, HOOD made it to the S&P.
Wyckoff said a century ago:
‘Somebody always knows something. That ‘something’ shows up on the tape’
Well, there it is.
Was yesterday (the start of) a blow-off?
Froce Index (thrust) was the largest since the IPO, trading on August 4th, of 2021.
Price action is currently (as of 11:58 a.m., EST) retreating off the highs.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
It was a very busy Friday, hence the reason for the late update.
One short position closed (SOXS-25-10) and five more opened.
Cisco Systems was one of those five (not advice, not a recommendation).
Earnings for CSCO, were released in mid-august; market reaction was a swift move lower.
From the earnings, everything seems to be good.
However, at this juncture, that’s not what the market is saying (at least for now).
Cisco Systems CSCO, Daily
Note:
As a general rule (for my firm), on any initial position, the implied stop for that position is that day’s session high or low depending on long or short.
In the case above, that means a ‘buy-to-cover’ stop at the day’s high of CSCO 68.10 (not advice, not a recommendation).
Other (short) positions to be reviewed over the weekend.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
As the chart shows, the SOXX has been struggling for weeks in the resistance zone.
From that chart, one question to be asked, did the overnight and early session fill the gap?
The other question, did the Nvidia earnings release change the dynamic of the sector?
Reading price action since then, in real time, the answer seems to be yes (not advice, not a recommendation).
Semiconductors SOXX, Weekly
As of this post (10:35, a.m., EST), the SOXX is struggling to post higher … but it’s not happening.
There’s a lot of congestion around the resistance zone. In Wyckoff terms, he calls this price action ‘Cause’.
Meaning, that if we break materially lower from here, it’s called ‘Effect’.
His point being, since there’s sufficient cause for a sustained move, if/when it happens, we’re to expect a corresponding effect (not advice, not a recommendation).
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
