Instead of doing a video of all twenty ETFs in my main list, I just wanted to write some remarks on some specific ones this weekend.
Gold’s ascent sputtered out in April, and we double-topped recently. It could have a long way to sink to digest all those gais.
In turn, miners have softened up considerably. First support is at the green line, anchored to the price gap.
IWM is one of the most enticing patterns, with an analog between those two pink tops, and a clean stop-loss at the dashed red line.
The cubes were repelled perfectly by the broken trendline.
I would love to buy more silver, but I’d prefer doing so at lower prices. Let’s see if it can find support at the dashed green line where the gap is, although it may have to get beaten up worse than that, particularly if the dollar continues to strengthen.
Bonds remain vulnerable to a full-on collapse is we can complete this pattern.
Oil has raged up to multi-year resistance. If things get truly out of control (like a nuclear bomb), I imagine the price bar will slap on turbo boosters above this dashed red line.
Finally, my XLB short is doing well. I am counting on the diamond pattern to emulate the similar one which took place before, also tinted in blue (although this recent pattern is much cleaner).
