Gold Chartbook — Profit-Taking in the Gold Market?
Since breaking above USD 2,530 in late August, gold $Gold - main 2412(GCmain)$ prices have only known one direction: upward. Following a meteoric rise, a new all-time high of USD 2,790 was reached last week on Wednesday. A significant consolidation or even a genuine correction have been notably absent so far. Amid increased volatility, there have only been two sharp but overall very modest pullbacks. Instead, gold bulls have been charging from one all-time high to the next.The broader rally in the gold market has been ongoing since autumn 2022, already. The triple bottom at USD 1,615 marked the trend reversal at that time. However, the uptrend has only gained significant momentum in the last 13 months. Starting at USD 1,810 on October 5th, 202
Hong Kong markets recover from post Trump 2024 victory selloff
As expected, yesterday’s China dump was short-lived. Many of these names have recovered all of Wednesday’s losses and are already up even more. Investors are looking at stimulus instead of worrying what Trump will do when he takes office next year. That’s because a good domestic economy - and a strong real estate market - solves a lot of China’s problems.ImageHong Kong markets recover from post Trump 2024 victory selloff. $HSTECH(HSTECH)$ +2.25% led by $MEITUAN-W(03690)$$KUAISHOU-W(01024)$$TME-SW(01698)$. Like I said yesterday, makes little sense for the selloff in CN tech sector as most are consumer related domes
1. $.SPX(.SPX)$ - You can be as bullish as you want, but this candle completely above the Bollinger band suggests that buying here is extremely risky, at least for the very short term. Yes, the Stochastic is not overbought.Sometimes, the market falls the day after FOMC.Image2. $iShares Russell 2000 ETF(IWM)$ - Two Indecision Candles in a RowUsually a reason to fill the gap, considering that price action is above the Bollinger range. High daily volume validates the indecision candles.Hanging man + Shooting star + Gap Up = ⚠️Image3. $VanEck Gold Miners ETF(GDX)$ - Bottom in, getting ready for $44.Bollinger bands and Stochastic has been a good combination to time this
$Dell Technologies Inc.(DELL)$ : Price crossed the higher Bollinger band and the oscillator is overbought. It usually generates a pullback.Is this a good opportunity to sell?The latest Fundamental Analysis publication, linked in my profile, provides a deep dive into Dell, covering its business context, financials, key indicators, and potential bullish and bearish factors. Similar analyses for $Apple(AAPL)$ and $Microsoft(MSFT)$ are also included.Image $Invesco QQQ(QQQ)$ - Price Action Above the Bollinger BandAnd the two gaps below add risk to the picture. Risk is high for longs positions here, at least for the very short
Elliott Wave View Looking for Dollar Index (DXY) to Rollover to the Downside
Short Term Elliott Wave View on Dollar Index (DXY) suggests that rally to 104.63 ended wave ((4)). This completed cycle from 9.27.2024 low and the Index should either resume lower in wave ((5)) or pullback in 3 waves at least. The Index has started to turn lower and we are calling the move lower from wave ((4)) high as a diagonal 5 waves. Down from wave ((4)), wave (i) ended at 103.98 and wave (ii) ended at 104.43. Wave (iii) lower ended at 103.82, wave (iv) ended at 104.19, and wave (v) lower ended at 103.68. This completed wave ((i)) in higher degree. Rally in wave ((ii)) ended at 104.35. Index resumed lower in wave ((iii)) towards 103.63 and wave ((iv)) ended at 103.83. Final leg wave ((v)) ended at 103.57 which completed wave 1 in higher degree. Wave 2 rally is in progress with interna
Elliott Wave View Calling for S&P 500 (SPX) to Extend Higher
Short Term Elliott Wave View on S&P 500 (SPX) suggests rally from 8.5.2024 low is in progress as an impulse. Up from 8.5.2024 low, wave 1 ended at 5651.6 and pullback in wave 2 ended at 5402.6. Index then extended higher in wave 3 towards 5878.4 as 45 minutes chart below shows. Wave 4 pullback unfolded as a Flat Elliott Wave structure. Down from wave 3, wave (a) ended at 5821.17 and rally in wave (b) ended at 5863.04. Wave (c) lower ended at 5762.4 which completed wave ((a)) in higher degree. Bounce in wave ((b)) unfolded as a zigzag structure. Up from wave ((a)), wave (a) ended at 5817.8 and wave (b) ended at 5784.92. Wave (c) higher ended at 5862.8 which completed wave ((b)) in higher degree. Index resumed lower in wave ((c)). Down from wave ((b)), wave (i) ended at 5802.17 and wave
In the last years, the renminbi made a pause in his attempt to get stronger against USD dollar. In February 2014, renminbi found support at 6.0153 as wave ((III)) and from there it made a perfect zig – zag correction structure to equal legs at 7.1964 high in September 2019. After these 3 swings, USDCNH should have continued with the downtrend. However, the pair turning up again breaking 7.1964 high suggesting that the pair was developing a double correction structure. (If you want to learn more about Elliott Wave Theory, please follow these links: Elliott Wave Education and Elliott Wave Theory) USDCNH July 2023 Weekly Chart More than a year ago, the wave “a” began at 6.0153 (2014 low) and moved higher in 3 waves structure almost hit 7.00 dollars ending at 6.9854 high.&n
Berkshire Hathaway BRK.B Expected To Resume Daily Bullish Trend
Berkshire Hathaway Inc. (NYSE: BRK.B) is trading to the upside within a strong Bullish trend since October 2022. In this article, we dive into the latest developments and signals that suggest a promising bullish trajectory based on Elliott Wave Theory. BRK.B is looking to establish an impulsive 5 waves advance before ending 2022 cycle. Wave I at $321, wave II at $292 and It ended wave III in September 2024 at $484. Down from there, the stock started a pullback in wave IV which is expected to find buyers in 3 , 7 or 11 swings to resume the rally higher again in wave V. We can see in the above daily chart that BRK.B is showing 3 swings down from the peak and it’s looking to finish the Zigzag structure in wave IV pullback then makes a turn to the upside. Consequently, if the stock r
BTCUSD Elliott Wave : Buying the Dips at the Blue Box Area
In this article we’re going to take a quick look at the Elliott Wave charts of Bitcoin BTCUSD published in members area of the website. As our members know BTCUSD is showing impulsive bullish sequences in the cycle from the 52598 low , that are calling for a further strength. Recently we got a pull back that has ended at the Blue Box zone,our buying area. In the further text we are going to explain the Elliott Wave Forecast and trading setup. BTCUSD Elliott Wave 1 Hour Chart 11.04.2024 BTCUSD is giving us correction that is unfolding as a Elliott Wave Double Three pattern. At the moment structure is still incomplete. Pull back shows lower low sequences. Bitcoin can see more downside toward 66813-63855 blue box ( buying zone). We don’t recommend selling Bitcoin
Short Term Elliott Wave View in S&P 500 Futures (ES) suggests rally from 8.6.2024 low is in progress as an impulse. Up from 8.6.2024 low, wave 1 ended at 5669.75 and pullback in wave 2 ended at 5394. Wave 3 higher ended at 5927.25. Dips in wave 4 unfolded as a double three Elliott Wave structure. Down from wave 3, wave (a) ended at 5861.25 and wave (b) ended at 5904.25. Wave (c) lower ended at 5801 which completed wave ((w)) in higher degree. Rally in wave ((x)) unfolded as a zigzag structure. Up from wave ((w)), wave (a) ended at 5870 and wave (b) ended at 5822.5. Wave (c) higher ended at 900.75 which completed wave ((x)) in higher degree. Index then turned lower in wave ((y)) with internal subdivision as a zigzag. Down from wave ((x)), wave (a) ended at 5835 and wave (b) ended at 589
1.Fed cuts a further -25bps to 4.75%Imagep.s. if this turns out to be it for the Fed (i.e. a Short Cut cycle, followed by a return to hikes) -- both stocks and bonds are basically on-trackShort-Cutting cycles tend to see bond yields head higher and stocks trend up:ImageMeanwhile Brazil continued it's un-pivot -- back into rate hikes after a short-lived cutting cycleImage2.Looking at the breakdown of Expected Returns for Global Equities we can see how US stocks face a very high valuation hurdle to overcomeMeanwhile the rest of the world has a slight valuation edge and tailwindImage3.US investors have a massive home-bias when it comes to their stock portfolios... and some might say justifiably so.But it turns out there are a lot of countries with an even bigger home-bias (albeit kind of inte