It feels good to be back posting on Tim’s blog again. I will try to throw one or two posts up a week going forward.
Right now we are all on top watch, but even though the taper is in full swing, and POMO is only going to be three days a week in July, the charts sure don’t look like a top to me. Both SPY and QQQ’s went back in buy mode for me this week, so I don’t feel like being a hero trying to catch a reversal, but looking to follow what the market is starting to recognize, and buy; basic materials. (more…)
My “balanced” Slope of Hope continues with another bullish idea – commodities. That is, symbol DBC, shown below, which I am long. In spite of what your government is telling you, inflation is heating up, and as the central banks of the world force their servants/masters (the big banks themselves) into spewing ever-more cash into the economy, you’re going to see this launch like a rocket.
Back when people thought the hostilities in the Ukraine would matter (ha! ha ha!) commodities skyrocketed. Well, the descending trendline that has been in place for a decade did a yeoman’s job of nailing the precise top. Back down we go……….
Among its 29 pages of high quality market analysis, this week’s NFTRH (#287) reviewed the Commitments of Traders (CoT) structures of a few markets and their implications.
Rather an interesting relationship between the agricultural ETF, symbol DBA, and its Fibonacci arcs:
One of the big beneficiaries of the sabre-rattling lately has been the agricultural sector, as illustrated by the surge in DBA. It’s mashed right up against its Fibonacci retracement, and it’s also very close to a huge descending trendline. I went ahead and shorted a bunch of DBA just now. (more…)