Stocks & Equities

More Downside Potential in the Gold Stocks

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Posted by Jordan Roy-Byrne - The Daily Gold

on Saturday, 04 March 2017 09:52

While we expected the gold stocks to correct and test GDX $22 and GDXJ $35, we did not expect it to happen so quickly. It literally took only three days! Gold stocks rebounded on Friday and managed to close the week above those key levels. While gold stocks could bounce or consolidate for a few days, we would advise patience as lower levels could be tested as spring begins. 

The weekly candle charts of GDX and GDXJ are shown below along with their 80-week moving average. For the entire week, GDX and GDXJ declined 8% and nearly 12% respectively. Although miners recovered Friday, the weekly candles signal the kind of selling pressure that do not exactly mark “higher lows” within an uptrend. In other words, while miners could recover for a few days or even a week or two, I would expect lower levels to be tested. That essentially includes the 80-week moving averages and the December lows. 


GDX & GDXJ Weekly



Stocks & Equities

Chart of the Day - The Stock Market

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Posted by Gary Savage - Smartmoneytracker

on Wednesday, 01 March 2017 08:28

At some point the stock market needs to break the price trend line to confirm a daily cycle decline. The longer they prevent the natural profit taking correction from occurring the bigger the crash will have to be to break that trend line.




Stocks & Equities

SPX Elliott Wave View: Ending Wave 3 Soon

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Posted by Elliotttwave-Forecast

on Tuesday, 28 February 2017 08:26

Short term Elliott wave view in SPX suggests that the rally from 1/23 low is unfolding as a 5 waves Elliott wave impulse structure where Minor wave 1 ended at 2301, Minor wave 2 ended at 2267.2, and Minor wave 3 remains in progress but close to ending.

Internal of Minor wave 3 shows an extension and subdivided also as an impulse structure where Minute wave ((i)) ended at 2289.1, Minute wave ((ii)) ended at 2271.6, Minute wave ((iii)) ended at 2368.2 and Minute wave ((iv)) ended at 2352.6.

Index has broken above the previous peak at 2368.2 suggesting Index is likely already in wave ((v)) of 3 towards minimum extension area of inverse 123.6-161.8% fib ext area of proposed wave ((iv)) at 2372-2378.

Once wave 3 is complete, index should do a 3 waves pullback to correct the cycle from 2267.2 in Minor wave 4 before the rally resumes in Minor wave 5. We don't like selling the Index and expect buyers to appear again after Minor wave 4 pullback is complete in 3, 7, or 11 swing.

SPX 1 hour chart

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Larger Image

Elliott Wave Degree



Stocks & Equities

Stockscores Perspectives: Why Winning Traders Win - IMGN - AIMT - BLD

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Posted by Tyler Bollhorn - StockScores Newsletter

on Tuesday, 28 February 2017 08:13

Screen Shot 2017-02-28 at 6.55.40 AMIn this week's issue:

  • Weekly Commentary
  • Strategy of the Week
  • Stocks That Meet The Featured Strategy
  • Stockscores' Market Minutes Video - Why Winning Traders Win Stockscores Trader Training
  • 7 Reasons to Say No to the Trade
  • Stock Features of the Week - Abnormal Breaks US

Stockscores Market Minutes - Why Winning Traders Win
Seemingly minor differences exist between what winning and losing traders do. This week, I discuss one of these simple differences that came make a massive difference in your trading success. Plus, my weekly market analysis and trade of the week on TV. Click Here to Watch

To get instant updates when I upload a new video, subscribe to the Stockscores YouTube Channel

Trader Training - 7 Reason to Say No to the Trade
As investors, our natural inclination is to seek out stocks that have good qualities. We look for reasons to buy the stocks we are considering and often forget to look for the negatives. Since there are thousands of stocks to consider and almost all of them can have some reason for buying them, it may be better to reverse how we approach the analysis of stocks. Looking for reasons not to buy a stock will emphasize a higher standard for the stocks you do buy and will help to improve your overall market performance.

Here is a list of common reasons I use to throw a stock out of consideration:



Stocks & Equities

Good Time to Take Profits

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Posted by Gregory Clay

on Monday, 27 February 2017 09:06

Market Summary

The Dow extending its streak of record-setting gains to 11 days, the longest such streak since 1987, as increases in utilities and other safety plays outweighed declines in financials. Both the S&P 500 and the Nasdaq rose for a fifth straight week, while the Dow brought its string of weekly gains to three. As seen in the chart below, since the presidential election the major stock indexes have been on a tear. The only major asset classes to fall during this time are precious metals and bonds which are being adversely impacted by the threat of higher interest rates.

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A standard chart that we use to help confirm the overall market trend is the Momentum Factor ETF (MTUM) chart. Momentum Factor ETF is an investment that seeks to track the investment results of an index composed of U.S. large- and mid-capitalization stocks exhibiting relatively higher price momentum. This type of momentum fund is considered a reliable proxy for the overall stock market trend. We prefer to use the Heikin-Ashi format to display the Momentum Factor ETF. Heikin-Ashi candlestick charts are designed to filter out volatility in an effort to better capture the true trend. The updated chart below maps the aggressive bullish surge. However, now we are starting to see the first technical signs indicating a possible pullback since the so-called Trump rally started. Overbought markets like the current situation can continue indefinitely, but now stock prices are converging into a tight range near resistance levels. Also, momentum levels are starting to turn down.



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