From the desk of Tom Bruni @BruniCharting
Short-term strength in Precious Metals continues, so I want to do an in-depth analysis of the space like I did last August to see if we’re now entering “The Golden Age of Precious Metals”.
Expert technical analysis of financial markets by JC Parets
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
Short-term strength in Precious Metals continues, so I want to do an in-depth analysis of the space like I did last August to see if we’re now entering “The Golden Age of Precious Metals”.
Sticking with a theme we started the week with, if the market is poised for higher prices, they will likely be led by the Medical Devices space. Putting our money where our mouths are, we’re taking a shot that will be a home run if it plays out, while offering us room to be wrong without losing too much. [Read more…]
by Tom Bruni
This week we’re back with another Mystery Chart.
For those new to the exercise, we take a chart of interest and eliminate the x and y-axes and and all labels eliminated to minimize bias. The chart can be any security in any asset class on any timeframe on an absolute or relative basis. It can even be inverted or a custom index.
The point here is to not guess what it is, but instead to think about what you would do right now. Buy, Sell, or Do Nothing?
by Tom Bruni
Tuesday I posted a mystery chart and asked you all to let me know what you would do. Buy, sell, or do nothing. Many said that it looked like the long-term downtrend was intact, but that you would wait for a downside resolution from this range before acting. I agreed.
So today, I want to reveal the full chart and share why I feel it’s relevant.
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
Tuesday I posted a mystery chart and asked you all to let me know what you would do. Buy, sell, or do nothing. Most of you said you’d be short or doing nothing until the range resolves lower, while only one or two of you said you’d be long with a tight stop or were waiting for an upside break.
Given how closely this chart resembles the S&P 500 or other major US Indexes, I wasn’t surprised by those responses. It still feels like many people have a short bias, so continued churn at current levels or a slow grind higher could leave a lot of people left behind.
Anyway, here’s the actual chart and why I feel it’s relevant.
Tuesday was only one day but it felt like it may have offered us a clue. The major indices — S&P 500, NASDAQ, Dow, Russell 2000 — all experienced notable pullbacks. Perhaps the first notable pullbacks we’ve seen in at least two weeks.
Now does this mean we picked the top and we’re about to run back down towards the bottom? Of course not. What this likely signals is that we are about to set into a little choppy-churn range for the next month or two. [Read more…]
We’ve had quite a bounce in US equities since the beginning of the year. And the longer this bounce holds, the more appealing the long side gets. However, it still doesn’t alleviate the very real risk that we might be in what could best be described as a classic bear market bounce. And if that is true, the downside from here on any newly initiated long positions could be severe. [Read more…]
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
Last week was our first Mystery Chart and Reveal Post of 2019.
This week we’re doing that same exercise with a new chart, x and y-axes and and all labels eliminated to minimize bias. As a reminder, this chart can be any security in any asset class on any timeframe on an absolute or relative basis. It can even be inverted or a custom index.
For those thinking “I know what that is!”, I’ll save you the time and say you’re wrong. Instead, tell me what you would do with it right here.
Buy, Sell, or Do Nothing?