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Gold similarities between topsGold is usually seen as a safe haven when stocks are falling or when inflation is rising. Neither of those two things are happening right now. Investors also are worried about a rise in U.S. layoffs as spiking coronavirus infections cause more businesses to shut down. Congress has yet to agree on more economic aid. All that has increased uncertainty about the direction of the economy. And uncertainty is often seen as good for gold prices. This was said back in 2011 in August right at the top, I do think this also applies to today's environment. - Inflation Rate for January 2021 is 1.4 "Gold is considered a good hedge against inflation," he said, "But the increase in gold price has far outpaced inflation, especially during the last decade." He noted that inflation has only picked up 2.4% on an annual basis during the last 10 years, but the price of the yellow metal has climbed more than 21% a year during the same time period. Unless higher inflation -- to the tune of 10% a year -- is forthcoming, Thomas said gold prices are "clearly in a bubble." Buffet's famous words: The prices of stocks and U.S. houses have risen faster over time than gold. Buffett has called investors who buy gold when the price is rising, even during times of uncertainty, "foolish." Conclusion: Short term exuberance because of the expected economic aid package, this will lead to a spike which will form a double top.
OANDA:XAUUSD
by Charlestrad3r
Quick Update - Big Tech Wait for support tests This is a quick update for those of you who are unsure whether big tech will rally to previous highs or return back to the depths of the post-correction crash. Here I'm going to talk about the potential movements of the Tech sector today. Let me know how it goes for and how you view this recent attempt at a Tech Sector rally. If this analysis helps, I'd really appreciate a like, it lets me know that what I'm doing is good work. Best of luck and Stay Disciplined Overall there is naturally a lot of momentum behind the recent rally which is discussed in my last couple of post: However, there has been a lack of short interest in recent days: fintel.io fintel.io This suggests shorts have been waiting for what they see as a potential overextension of equities to get in short. This could be seen in a cup and handle pattern as seen on the chart. This will bring down prices to recent supports allowing for buying opportunities from big players who have been waiting for tech to come out of this recent slowdown. Correction Start: Therefore my personal strategy is to wait for support testing at around 2120-2125 which may happen early into the session and then to go long if this test is met by high volume. If this support is broken wait for support at the hard support at 2067-2072. Straight Up: If tech instantly moves up this morning I would be cautious about going long, although there is potential for a substantial move up, a correction will occur soon to reduce overextended RSI levels prior to moving towards all-time highs. Wait for tests at around 2120-2125. Apologies for the short analysis, I wanted to provide some sort of caution for this morning.
SP:S5INFT
by PilotFish
DAY TRADE - Technology SectorAfter an intense drop yesterday determining today's sentiment will be difficult, however there are several signals that will allow traders to make some intraday moves. There are 3 scenarios that can occur today: Tightening of the range: High and lows squeezing together to form a slightly upward biased symmetrical triangle A battle of defensive tech against economic fear causes indecision and tightening RSI hovering around 50 for 4hour and Day chart The collapse of the rally: Constituent stocks such as AAPL and MSFT have failed to rally close to their pre tech correction highs causing swing traders to pull out Resistance at 2080( S5INFT ) and 3400( SP500 ) has been double topped and thus further price movement looks unlikely Head and shoulders pattern emerging in MSFT Momentum indicator shows reduction in momentum High percentage of short interest in major tech giants (fintel.io fintel.io) Classic Value sectors(S5REAS, UTIL and CONS) not hit as badly by yesterdays crash suggesting potentially value strength Failed to move over Fibonacci R1 Move to Upside: New lows not achieved in overall bullish rally Momentum indicator for day chart showing reversal to upside after tech correction Remains in upper band of parallel channel Remains above 50d MA Remains in upper band of long term Bollinger Band Most constituent stocks below price target Verdict: I believe significant tightening is in order today due to the battle between those who fail to believe tech can go any higher and those who see it as a great defensive play with both stimulus package and election uncertainty. With morning strength and movement above $115.1( AAPL ) and $208.30 ( MSFT ) a move towards 2067 is likely to occur. If significant momentum is behind this move and RSIs are not too overextended a move towards 2080 may happen however, further movement over this resistance ($210 MSFT , $116 AAPL ) will be difficult and failure will cause major selling. If selling causes the price to drop below 2067 it is unlikely a break above 2080 will occur, but with strong support, a major break with significant upside could be on the cards With morning downside watch for a drop below 2044, this will alert sellers that moves lower are possible and selling will occur to bring the price further down than yesterday. If the value falls back within the triangle it will likely move back towards yesterday's lows and settle somewhere around 2050.
SP:S5INFT
by PilotFish
The USD will be stronger for a while I believe the USD will be stronger than other currencies in the next week especially in the first two days and the euro session on Wednesday. All major currencies that embody USD, as either bullish if the USD was the major pair or bearish if the USD was the secondary pair. This is not because the USD is becoming stronger after the FED announcement that held last Wednesday and its policy which declared that the inflation in the U.S will reach 2 percent. It is just a correction phase where those currencies getting a little stronger compared to the USD.
by husamalahmadi
Demand of Dominion Energy....!Buyers are active in the current price, and if the volume increase the price will break the resistance level and go beyond the resistance. If the prices come lower level and breaks 77.50 level it is predicted that it will move do down direction. ----4 hour chart---- In 4 hour time frame price is creating a value area, if The buyers are more active then the sellers, price will break the value area and it will go up-direction. And if not the price will continue its move zig-zag formation.
NYSE:D
by Jay_shree
14
AMZN substantial moving picture.The AMZN is planning a follow-up to the successful line move towards up is a directionally oriented position generally opposite to that of the pull of gravity. Trading in the direction of a strong trend reduces risk and increases profit potential. --4 hour time frame-- In four hour time frame the stock is moving in its range. --1 weekly time frame-- 1 week chart there is a break towards up-direction. Reversals are based on overall price direction and are not typically based on one or two periods/bars on a chart .
NASDAQ:AMZN
by Jay_shree
9
ZEC is ALIVE! Let's look for the bounceHey everyone, There is life! After a beating the last few days, Zcash is actually looking up We stayed out of the double top play and let the coin run its course, but the double bottom is showing some short-term plays for ZEC. Volume is a little sketchy, but ZEC was able to resist the heavy bear volume and bounce on that double bottom / .5 fib level. We are looking for a higher low to form, and place a long up to the next fib level. Price is looking to consolidate soon on the .382 level, and if that confirms, its a long to the next level for all of you day traders. Swing traders, shoot for the $75 ish level to meet the last top before the fall. One thing in particular to watch for is that a lower high isn't forming. We can judge the validity of this by making sure that bear volume DOES NOT INCREASE as price goes into consolidation. If that happens, all you bears out there can pull the trigger on a short. Would you play this pattern? Why or why not? -Block
BITFINEX:ZECUSD
by block21e8