Gold is now working on a test of the low. Obviously, it needs to hold, otherwise, this could get a lot worse over the next few months. For example, a breakdown below xxxx would imply a target in the mid xxxx range.
Subscribers, click here to download the report.
Non-subscribers, click here for access.
The screens for short term swing trades were again terrible over the past week. Unlike the above screens, which evaluate current cycle status, these screens look only for new signals indicating a change of short term trend. Looking back over the past week, there were only 3 charts that made the cut on the buy side. Conversely, there were 15 Sells. That’s not a good ratio, although not as bad as the previous week when the score was 3 buys to 35 on the sell side.
The last step in the process is to eyeball the charts on the buy side. One of the 3 was a penny stock. I’m not interested. One of the other two (xxx) was a falling knife setup at support. Sorry, no interest. The other (xxxx) might be a base. Might not. It isn’t a terrible setup, but wasn’t solid enough to entice me in this environment.
Subscribers, click here to download the report.
Non-subscribers, click here for access.
