Last week in Sonoma, we uncovered a bunch of potential trades that are setting up in a variety of sectors. But one of them is sending a glaring signal that it is ready for us to get involved right now, so let's not waste any time.

Check out this chart of CNX Resources Corp $CNX:

From the Desk of Ian Culley @IanCulley

I’ve heard JC say it many times… 

“You guys are the smart money.”

After spending a week with clients at our Portfolio Accelerator and fielding countless reader emails, I completely agree!  

Since gold and silver prices are getting a bit wild, I decided to dive straight into the Gold Rush mailbag today to start a healthy discussion about what might happen next…

• What happened to gold/silver? Is the rally over?

-Parry

No, the rally isn't over. 

Gold is consolidating below a critical extension level following a breakout to new all-time highs. And Silver is trading just off fresh decade-highs.

In many ways, it’s just getting started.

I can’t hold a bearish or neutral bias for precious metals while Silver trades above the 2020 highs of roughly 30.

The precious metals correction wasn’t pretty last week. But I’m happy to roll with the punches as long as silver futures hold their breakout.

• Does the severity of the moves in gold really change anything as long as...

In today’s Daily Digest, we’ll review the following:

1. Added a new position in XLB.
2. No adjustments are needed today.
3. Exited our XLV position.
4. Current status of open campaigns.

Let’s dig in!

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today's list comes via a Form 4 filing by AP Moller Holding.

The investment company reported a purchase of $8.9 million in Noble Corporation $NE.

I'm seeing a number of positive developments that supports an intermediate-term bullish bias. The current weight of the evidence points to further upside in the coming months.

This will be a brief interim update on the most recent developments.

Bitcoin continues to move higher following its retest of the 60,000 support level. The short-term trends in crypto markets are higher, which aligns with equity markets making new highs.

This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.

From the Desk of Ian Culley @IanCulley

Don’t let a few days of selling pressure fool you.

Despite intense gold, copper, and crude oil pullbacks, many commodity-related assets are flashing buy signals.

For instance…

The Global Carbon ETF $KRBN:

KRBN holds a basket of European and U.S. carbon allowance futures – also known as carbon credits. Companies use these credits to offset the costs of releasing greenhouse gases.

Interestingly, the similarities between the carbon allowances, copper versus gold, and silver versus gold charts are uncanny. All three are violating multi-year downtrend lines, suggesting bullish trend reversals and a risk-on market environment.

We like KRBN long above 35, targeting 56.

That’s it for today. We’ll be back with more next week.

Thanks for reading.

Premium members, be sure to check out the Commodity Trade of the Week below.

One thing we know for sure is that stock prices go up and stock prices go down.

Sometimes they go up mostly in unison, and other times most of them trade lower together.

In most cases, however, some stocks are rising while other stocks are not, and possibly even falling.

We call these "Normal" markets.

Check out last week's Conference Call Video, Charts & Trades for all the details on how we're playing it.

You can see here in the chart below, for example, that with the S&P500 closing at new all-time highs this week, the Consumer is just not getting the memo.

In fact, Consumer Discretionary just went out at new lows relative to the S&P500.

The...

From the Desk of Ian Culley @IanCulley

Don’t let a few days of selling pressure fool you.

Despite intense gold, copper, and crude oil pullbacks, many commodity-related assets are flashing buy signals.

For instance…

The Global Carbon ETF $KRBN:

KRBN holds a basket of European and U.S. carbon allowance futures – also known as carbon credits. Companies use these credits to offset the costs of releasing greenhouse gases.

Interestingly, the similarities between the carbon allowances, copper versus gold, and silver versus gold charts are uncanny. All three are violating multi-year downtrend lines, suggesting bullish trend reversals and a risk-on market environment.

We like KRBN long above 35, targeting 56.

That’s it for today. We’ll be back with more next week.

Thanks for reading.

Premium members, be sure to check out the Commodity Trade of the Week below.

Trade of the Week

Today, we’re outlining Nutrien $NTR, a $30B Canadian agricultural inputs company:

Nutrien recently broke a multi-year downtrend line at a crucial polarity level going back to the IPO. 

We’...

Emerging Markets can be a funny thing.

Remember, this isn't your dad's emerging markets.

It's different now.