The Technical Traders

Current The Awakening Thoughts Multiple big news items hit the market triggering panic selling among both traders and investors. Lockdown fears spark investor fear and most companies took massive losses and are limping along from the first lockdown. ... Another round of business closures will push a much larger wave into bankruptcy I feel and could trigger more fear/selling in equities if we see another lockdown. I dont think it matters too much where a lockdown happens now, everyone seems to be on alert for the second wave with businesses opening back up, school starting, and cooler fall weather that can help COVID spread easier. Travel, airlines, hotel, and casino stocks are down sharply on lockdown fears. The banking sector is under pressure today allegedly laundered trillions of dollars over the past two decades. These big news events is causing a wave of selling today. The volume flow on the NYSE today is 15 shares being bought sold on the bid, vs bought at the ask. Anything over 3 is panic selling, and over 8 generally means the market should bottom within 1-2 days.

Good morning traders! Lots of negative news today. The major banks were moving allegedly illicit funds (trillions) over the past two decades. The banking sector is down big today. COVID concerns and travel stocks are under pressure, with cases continuing to rise to worrisome levels.... We see panic selling in the stock market today with these mixed news events, causing all assets to move lower today other than bonds, which are moving higher.

#Gold Is on the Cusp of a Breakout Charlotte McLeod of the Investing New Network interviews Chris and discuss: US$2,200 possible for gold in the near term and Golds long term price potential; Miners in the first pause of a new bullish trend; new price targets for silver; and election day trading patterns to watch. $GLD $SLV $NUGT https://www.thetechnicaltraders.com/part/idevaffiliate.php

#Platinum and #Palladium Set to Surge as #Gold Breaks Higher RESEARCH HIGHLIGHTS: Gold will target the $2,250 level before stalling and attempting another upside price rally targeting $2,500 or higher.... Silver will target the $33 price level when the current upside move builds enough momentum, then target $38 or higher. Our next upside price target for platinum is $1,410, representing a +52.4% upside price target. Palladium bottom in March 2020 was near $1,357. We expect a new upside price target for Palladium near $3,663 once it has broken out past current resistance levels. https://www.thetechnicaltraders.com/part/idevaffiliate.php

Good morning traders! Stocks are trading higher today with the key stock indexes continue to hold the recent lows near the 50-day moving average. Bonds continue to try and form a bottom and are trading slightly positive today as well.... Metals and miners are trying higher but still within their bullish continuation patterns. Yesterdays large price swings shook things up for gap fill on the stock market from last week, then rallied back to more or less filling yesterday morning gap lower.

Good morning traders! Yesterday stocks sold off during the last 2 hours of the session, and that selling continues to pull the markets lower again today. As pointed out yesterday, the short term chart of the SP500 is showing a bottoming pattern. Todays gap down will fill a gap window from earlier this week and create a new gap. Stocks should bounce and rally today based on the two gaps to be filled, and because the price will be testing the 50-day moving average. We will see how the market reacts and closes the week out, but it is likely to be another volatile and emotional session across the board.

Chris Talks #Gold, #Oil, and the US #Dollar With Jim Goddard Chris joins Jim Goddard from the Goddard Report to talk about the upside potential for gold miners. Traders and investors seem bored with stocks so other sectors are picking up. https://www.thetechnicaltraders.com/part/idevaffiliate.php

Good morning traders! The markets are about to have another wave of big price action. Expect some wild moves to start any day here. Stocks, bonds, metals, miners, and oil are trading higher today. ... Crude oil will gap higher today.

Post Market Update A lot of posturing today in the markets. After a moderate upside price surge early in the day, prices rolled over later in the afternoon. At one point, just before the close, the price levels on the ES and YM were lower for the day. Then, only 30 minutes before the closing bell, price levels rebounded slightly higher to close into the positive. Gold and Silver were moderately lower/flat today. Crude Oil climbed about 3%. Natural Gas rose by about 2%. The Dow Jones Industrials closed up just 2.27 points (+0.01%).

Current Thoughts: Monday the stock indexed bounced of their 50 day moving average which acts as a support level when price is above it. Price does need to hold above this price point for the market to remain bullish. The past couple of weeks have been slow when it comes to market-moving news. Monday, mergers and vaccine news hit the wires to spark investor and traders interest which helped send stocks higher.... Bio-Tech sector surged 6% on Monday being the markets strongest sector. That was followed by a 5% move up in gold miners as the second strongest sector. Stock market continues to trade at 1999/2000 valuations and it looks and feels like a bubble but you cant fight the fed and the trend, which is bullish for stocks still.

Good morning traders! Stocks are set to open higher today after bouncing off the 50-day moving average. Tech stocks were up and continue to be in favor, but yesterday three other sectors lead the rally. IYR real estate, gold miners, and bio-tech. Lets see if these continue to lead the market higher and outperform.... Oil is trading higher by 1.29% this morning and testing the 5-day momentum moving average. Today is critical for a continuation momentum move lower.

Its Go Time for Gold! Next Stop $2,250 RESEARCH HIGHLIGHTS: Gold Pennant/Flag formation is now complete and setting up new momentum base near $1,925.... Our Adaptive Fibonacci Models suggest support will prompt new Gold rally to $2,250. The rally in Gold will continue to extend higher over the next 4+ weeks. The US Dollar may move lower and/or the US stock market may break recent support to prompt this new rally in Gold. $GOLD $GLD $GDX $NUGT https://www.thetechnicaltraders.com/part/idevaffiliate.php

Current Thoughts: The stock indexes are trading at their 50-day moving average. This is a critical support level where if buyers do not step back in to stocks this week then I expect another 10% drop from the current price level in the Nasdaq, and a 6% drop in the SP500. The safe haven assets like bonds, gold, silver, and precious metals stocks have been out of favor for the past month. But, each have formed strong chart patterns which point to much higher prices over the nex...t few months. These may start to become leaders once again starting this week. Last week crude oil broke down below support and started a new down trend. It has formed a short-term pattern which points to much lower prices over the next 3-10 sessions. Current price $37, downside targets $34, then $31. Overall, the stock market is trading at 1999/2000 evaluations, it feels like we are in an equities bubble, and stocks are still within an uptrend and higher prices should be expected at this point. Risk for investors putting new money to work at these levels I think are taking on high level of risk and waiting for a larger pullback to take place would help reduce some risk.

Good morning traders! The stock indexes are trading at their 50-day moving average. This is a critical support level where if buyers do not step back into stocks this week then I expect another drop in the #SP500 and #NASDAQ. The safe-haven assets like bonds, #gold, #silver, and precious metals stocks have been out of favor for the past month. But, each has formed strong chart patterns which point to much higher prices over the next few months.

Make or Break Big Trends Ahead RESEARCH HIGHLIGHTS: Although our modeling systems have recently switched into Bullish Trending mode, we are still very cautious of a Bull Trap pattern.... Bearish technical divergences between price and RSI with an election 50+ days away indicates market weakness and money rotating out of FAANG stocks. FAANGs are at make or break levels its time to act not react. 11% to 22% price rotation ranges are in play are you ready? https://www.thetechnicaltraders.com/part/idevaffiliate.php

SPY ETF Expectations for the Rest of September RESEARCH HIGHLIGHTS: Over the past 28 years, the #SPY has gained an average of 3.45% in 15 of those years; it has fallen by 6.42% in the other 13 years.... The critical support level for SPY is 332.85. If the SPY finds support at this level then you can expect continued, moderate price increases. Prepare for a moderate increase in volatility for the rest of September watch the #VIX. #SPX https://www.thetechnicaltraders.com/part/idevaffiliate.php

Good morning traders! Stocks, bonds, and metals continue to struggle as they all try to start new trend reversals. Oil looks ready to move lower sharply based on price, volume, and momentum.

Post Market Update The US stock markets rolled over today as traders/investors moved back into sell mode. I feel the catalyst for the sell-off this afternoon was the low $300B US stimulus plan, and that ECB announce more easy money policies to support their economy and the global markets, but no more additional stimulus for the time being. These things are negative on the market and likely the cause of the intraday reversal. ... It is likely that more risk is coming off the table as traders/investors prepare for no new stimulus plan in the USA until after the election.

Good morning traders! Stocks are mixed with the #SP500, Dow, Russell 2K all trading lower while the #Nasdaq and tech stocks move up in pre-market. Bonds are down while metals are trading higher. Metals/miners are on the verge of starting a new leg higher. We have seen this twice already. Both times, they were rejected.

Time to Focus on Oil Breaking Down and Golds Reversal In the podcast with Cory Fleck from the Korelin Economics Report, Chris kicks off today with a focus on key moves in #oil and #gold. https://www.thetechnicaltraders.com/part/idevaffiliate.php

FANG Index Nearing Critical Support, Could Breakout at Any Moment https://www.thetechnicaltraders.com/part/idevaffiliate.php RESEARCH HIGHLIGHTS:... The washout-low price move in FANG stocks may present a needed rotation in price before another upside move sets up. Tweezer Bottoms pattern and RSI pennant formation suggest very clear support levels. Watch how Volume and the VIX pick up over the next few days, and how price reacts to this bounce at 945. Our Custom FANG Index (consisting of Facebook, Microsoft, Twitter, Amazon, Google, and Nvidia) shows the FANG Index, and technology sector, are trading just above critical support near 945. The congestion area on this chart between July and August just below this 945 level highlights the key resistance/support level that we are currently watching as price support.

Good morning traders! The majority of stocks are testing the 50-day simple moving average (SMA) after a sharp drop to this level. For short term trading, this is generally seen as a short term buy signal for a 1-3-day bounce, which we are starting to see in pre-market now. Bonds and metals are flat, while natural gas and oil are putting in a small oversold bounce.

Im big in Taiwan...

Crude #Oil Breaks Lower, Sparking Fears of Another Sub $30 Price Collapse https://www.thetechnicaltraders.com/part/idevaffiliate.php RESEARCH HIGHLIGHTS:... Breakdown in Crude Oil sparks talk of sub $30 price targets. Initial support likely near $32 to $33. Predictive Modeling suggests deeper price lows may be reached before November 2020.

Good morning traders! It is a wild morning in the markets with stocks set to gap lower for a double-dip to test last weeks lows. Remember, double dips during high volatility is regular price action. The only safe haven this morning is bonds, which are up over 1%.... Metals and miners are trading lower as expected, with stock market selling pressure pulling them down. The dollar is up firmly today and looks to be breaking out to start a new rally as the other safe-haven plan aside from bonds. This will most likely keep some pressure on metals and miners this week.

Traders Dreams Come True, Big Technical Price Swings Pending on SP500 https://www.thetechnicaltraders.com/part/idevaffiliate.php RESEARCH HIGHLIGHTS:... A potentially critical price inflection point and technical pattern setup that has nearly completed and validated over the past few days, weeks, and months. Potential flag/pennant formation on our Custom Valuations Index Weekly Chart shows a possible 11% to 16% or more) downside price correction in SPY. Fibonacci Price Modeling systems projects SPY downside target level near $284.50 before a bounce.

Should You Be Concerned About the Big Downside Rotation in the US Markets? https://www.thetechnicaltraders.com/part/idevaffiliate.php RESEARCH HIGHLIGHTS:... Dont panic. Technical Analysis does not confirm a deeper price correction at this time, nor does this appear to be the Bull-Trap we have been warning about yet. We are waiting until next week to see if price confirms any new trend. Volatility should decrease if this is just a moderate price rotation.

RESEARCH HIGHLIGHTS: Bitcoin collapsed near Triple Fib Amplitude Arcs is this a sign of pending reversal for other assets? It is very likely that Bitcoin price levels will fall below the May through July levels, near $9k in an attempt to identify new support levels. The $8k level would be the next downside price target. Beyond that, possibly $7k or even $6k.... #Gold and #Silver will move lower before going higher as a potential price collapse in #Bitcoin suggests general market fear is hitting all global assets. As other assets decline in valuation levels, the US #Dollar will likely be viewed as the strongest currency to own and rise. https://www.thetechnicaltraders.com/part/idevaffiliate.php

Another interesting session happening today, much stranger than yesterday. Today we have more follow-through selling in stocks, metals, and oil. Weirdly enough, bonds are moving lowers sharply, and the dollar is giving back a large chunk of the morning gains. The VIX should be spiking, should have spiked yesterday, and more so today, but that is not happening. This type of market pullback looks and feels a lot like what we saw in June on the SP500 index. #VIX #UVXY #SPY #SPX #gold #silver #bonds

Good morning traders! Stocks are mixed today with small caps up 1% while the Nasdaq is down 1.4%, but prices are swinging fast, so bargain hunters seem to be buying the dip today. Gold, silver, and miners are chopping around today as well.... And bonds are down in pre-market as traders seem to be excited about stocks at this discounted price.

Current Thoughts * The rally from the March lows has been no doubt incredible, and mind-blowing. * P/E ratio over 27 beaking the dot com bubble valuations we are in new territory, but that is to be expected. Fibonacci price theory states that price is always searching for a new high or a new low before reversing direction, and we have that now. ... * I think we are in a massive bubble and it still may have more room to run based on the big tech stocks momentum and trends. * Again using Fibonacci and its price extension method, the SP500 is measured move base on the March low, and the June pullback, points to $3981, or $4000 on the SP500 index.

Good morning traders! Stocks are mixed this morning, with bonds and metals trading slightly lower along with oil. In the last few trading sessions, we have started to see money rotate into the US dollar, which looks to be forming a bottoming pattern. ... Bond prices have popped and are on the verge of becoming a safe place for capital in the case of a market correction. Also, Utilities rocketed higher, and that is an early warning of big money moving to a defensive sector.

Will Bonds Continue to Be a Safe Haven in the Near Future? Chris speaks with Jim Goddard at HoweStreet.com about #gold, #silver, #bonds, interest rates, and whether we should expect a market correction or market crash. https://www.thetechnicaltraders.com/part/idevaffiliate.php

Good morning traders! Stocks continue to extend to the upside while metals and miners trade lower again today. The big mover yesterday was bonds. TLT surged 1.2%. Bonds are down slightly this morning.... Gold down 0.30%, silver down 2.3%, and miners down a little as well. I expect some volatility in this sector for the next week or so as the bull and bears struggle at resistance levels. Nat gas continues to slide lower, while oil grinds sideways/higher each week.

Are Fangs Going to Breakdown Over the Next 4 to 10+ Days? https://www.thetechnicaltraders.com/part/idevaffiliate.php RESEARCH HIGHLIGHTS:... FANG Index may begin to peak/top as RSI Divergence pattern sets up. Dow Theory trend divergence confirmation suggests the end of the Excess Rally is near. The VIX moving higher suggests greater concerns of increased volatility. Dow Jones Utility Index moving lower on increased volume may be the key in a multiple-pattern set up that will confirm larger market trends.

Anyone else catch that fakeout breakout move in #gold miners?

Post market update New highs in the NASDAQ ($COMPQ and $NDX) while the Dow Jones Industrials ($INDU) fell over -0.75%. It certainly looks as though the speculative (Excess) phase in the NASDAQ may continue longer. The VIX jumped over 15% higher today, telling us there is a little fear, but everyone is still buying call options, so they get more leverage to the upside. Sure is an interesting market and sentiment phase we are experiencing. Something else to consider is the... last time the VIX move substantially higher while the SPY (US stock market) moved higher was just before the DOT COM Bubble Burst in 1999, which is an interesting read. (source: https://www.zerohedge.com//last-time-happened-was-day-dot- ). Gold moved higher by about +0.04%. Silver moved higher by about +2.45%. This move in Silver, being much larger to the upside than Gold, suggests another rally in Metals may be setting up where Silver may attempt to advance higher at faster rates than Gold (on a percentage basis).