Friday, July 1, 2022

The Cradle Will Fall | Investing.com

-


Well, yeah, this is more like it. Too bad this kind of market couldn’t persist for, oh, 100 days in a row. It’s such a nice change.

SPY Chart.

SPY Chart.

SPDR S&P 500 (NYSE:)

Of course, the darlings in D.C. are viewing this with a sweating brow, and their frantic buy-backs have probably already begun. We can see the diamonds rather near an important support level. Break this (on, say, Friday) and we get more fun.

DIA Chart.

DIA Chart.

SPDR® ETF Trust (NYSE:)

However, the nauseating optimism that had begun to peal forth has been beaten back down, and patterns I had felt were lost to the winds of time have been unexpectedly resurrected.

EFA Chart.

EFA Chart.

iShares MSCI EAFE ETF (NYSE:)

Miners have, as TNRevolution told us all, completely pooped the bed. This bearish pattern is quite complete now.

GDX Chart.

GDX Chart.

VanEck Vectors Gold Miners ETF (NYSE:)

For me, the icing on the cake is SPDR® S&P Metals and Mining ETF (NYSE:), which has broken an important uptrend quite cleanly.

XME Chart.

XME Chart.

This week has been fantastic so far. The one dog was my TUP short, but the profits from my 64 other positions has made it unimportant.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

FOLLOW US

0FansLike
3,373FollowersFollow
0SubscribersSubscribe
spot_img

Related Stories