A technical outlook for the S&P and USD
Today we use our technical insights to determine the future moves in the US markets as well as USD. Doc outlines a scenario where we could see the USD and US stocks move in unison to the downside for the next couple weeks. The last point that we ended on is key… Is inflation going to take hold?
Click download link to listen on this device: Download Show
I have held through this nightmarish correction in the miners. Really hope it is over with and this is not a resumption of the bear market.
Notice how I start to post more and more bearishly at or near bottoms (did the same last January). I almost know that I doing so is a contrarian indicator, but I like hearing bulls like yourself defend the bull story. :]
I am convinced that this new bull will not get derailed but I think we’re still going to have a choppy ride for quite awhile. It’s no fun waiting for the next big move to begin but our patience will be rewarded.
It looks like the following modified Schiff fork is working perfectly:
http://stockcharts.com/h-sc/ui?s=SIL&p=W&yr=5&mn=10&dy=0&id=p16496193988&a=421379256
GDXJ is up 3.6% versus GLD right now (which means it is up about 4.5 times as much versus the dollar). Very good action:
http://stockcharts.com/h-sc/ui?s=GDXJ%3AGLD&p=D&yr=1&mn=0&dy=0&id=p44890266693&a=490095165
If stocks get one more push higher from right here, it won’t be much and it won’t last long:
http://stockcharts.com/h-sc/ui?s=%24INDU&p=D&yr=0&mn=8&dy=14&id=p55571068519&a=460258854
Crap of this phony Wall Street/Trump turd-bump is going to hit the fan hard and soon.
Unbelievable how insane the markets are right now.
Matt,
can you cook me up a chart for that;)
It was a challenge, but how’s this for a WST Crapman?
http://stockcharts.com/h-sc/ui?s=%24SPX&p=W&yr=4&mn=11&dy=22&id=p86138492432&a=446479615
Sweet baby Jesus! I thought you’d strap on the tried and true turd emoji, but that flabby turd-demon is a real beauty! Thanks!
Like the michelin man of doo doo….
My best laugh of the day! Thanks Matthew. I can’t wait to step in that one, since I’m still suffering with my UVXY.
Great stuff. That reminded me of the “Vomiting Camel” gold chart from a couple of years ago.
http://www.cnbc.com/2014/11/03/what-caused-the-vomiting-camel-pattern-in-goldcommentary.html
How about my Batman chart from last year?
http://stockcharts.com/h-sc/ui?s=%24GOLD%3A%24GNX&p=D&yr=5&mn=0&dy=0&id=p03321204967&a=423117194
Awesome. That was a clear signal that a significant bottom in the gold complex was approaching., as opposed the the Jokers who said gold was headed to $700. 🙂
+1 Batman! Yes the Dark Knight did rise….
+1 Steele. I remember seeing that vomiting camel chart. Oh nostalgia!
GOLD
Brilliant. Love it. May have to print it out. Ha..ha.
Doc,
how about that Great Panther now? It has really turned a corner recently. Why is that?
Confused, the fundamentals as I can see aren’t that great for GPL but it’s hanging int there. It looks like it wants to break out on the daily chart but be careful since it may be a fake out. The reason I say this is that the weekly doesn’t look as convincing. This thing should pull back and then I might purchase some just on a technical basis if it challenges the 200 day SMA
Thanks Doc! I knew you’ve owned this in the past and am looking to unload some for now.
Here are some of the shipping stocks I’m watching:
Doc has mentioned NAT in the past. I have mentioned GMLP.
I own several of these stocks; some for income, some for potential capital gain.
(Because they are depressed in price)
GLBS Globus Maritime LP
SALT Scorpio Bulkers Inc Common
NMM Navios Maritime Partners LP
SBLK Star Bulk Carriers
SB Safe Bulkers Inc
GNK Genco Shipping & Trading Ltd
DSX Diana Shipping Inc
GOGL Golden Ocean Gp Cmn
NM Navios Maritime Holdings Inc
GASS Stealthgas Inc
TOO Teekay Offshore Partners LP
GSL Global Ship Lease Inc
PXS Pyxis Tankers Cmn
ESEA Euroseas Ltd
ANW Aegean Marine Petroleum Network
TGP Teekay Lng Partners LP
OSG Overseas Shipholding Group Inc
GLOP Gaslog Partners LP
DAC Danaos Corp
NAP Navios Maritime Midstream Partn
CMRE Costamare Inc
NAO Nordic American Offshore Ltd
TOPS Top Ships Inc
ASC Ardmore Shipping Corp
DHT Dht Holdings
NVGS Navigator Holdings
SFL Ship Finance International
SSW Seaspan Corp
STNG Scorpio Tankers Inc
EGLE Eagle Bulk Ship New
FRO Frontline Ltd
HMLP Hoegh Lng Partners LP
Due diligence is required; especially for LP stocks.
CFS, NAT may be a good buy at 8—it’ll come back to it again. I like NMM for fundamental and technical reasons—–not investment advice.
Doc, I like NAO.
The Santa Claus rally ! https://www.youtube.com/watch?v=W2ZmTMzN5NY
Doc ? You have same top picks DOC’s Picks ?
James, note my response to CFS—not investment advice.
NMM is a long term hold for me.
Nice write up on excelsior
http://criticalinvestor.eu/analysis/copper/excelsior-mining-closes-us14m-financing-greenstone-closes-permits
Ex,the zinc play Pasinex sounds really interesting except for the exchange it trades on.Have you traded on this exchange and if so how is it???
Only traded OTC. The main two tickers are PSE.CN and PNX.F There is also PNX.SG and PNX.DE.
Thanks for the update on excelsior. Copper has been rockin’
Something on callinex
http://www.wealthresearchgroup.com/advancedzinc/
Nice. I’ve really been liking the direction of Callinex and just went back and watched their MIF video a second time. Good stuff.
I think the dollar is done for now.
http://stockcharts.com/h-sc/ui?s=UUP&p=D&yr=2&mn=3&dy=14&id=p61552403283