GLD
AW Analysis - THE SILVER AND GOLD VIDEO...In this video I explain exactly what I believe is going on in the grand scheme of things.
Everything you have been told about precious metals is a lie.
Believe it or not, the waves are going to do what the waves will do.
I believe that looking at precious metals as a safe haven asset is a fool's game.
Humans will always come up with different reasons why it's a good idea to do anything.
You could convince young traders that a warship is their mother.
Check it out, let me know what you think.
Learn the waves, it will be the best thing you ever did for your trading abilities.
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research.
***AriasWave is not the same as Elliott Wave so your counts may differ to mine if you happen to use it.***
Wednesday notes - SPX Wheat Gold DXY DAX Bonds etc.Some pre market commentary, SPX - expecting a bear trap after open, then higher. Wheat may be affected by the hurricane in Florida, Bonds hit an important fib extension, Gold looks promising if it can get over 1675 resistance, DXY also looks like it may pullback - BTC could still move to lower 18000 area before a move up (would align with one more low in equities) but it doesn't have to go down that far. Dax has broken monthly trendline, expect a retest over the coming weeks.
I forgot oil - looks good for a strong bounce here, pullbacks are likely bought.
OK good luck!
GLD breakout emerging...Let's seeI bought a Call Option on #GLD with a $181 strike price and 3/4 expiry.
#GLD has been on an uptrend for obvious reasons- it's a hedge against inflation, which is running rampant.
Price is currently compressing in this bullish pennant pattern and I'm taking a bit of risk-on bet that this trend will continue. I'm taking profits quickly on this one in anticipation of a retracement and consolidation before the weekend. Hoping I can squeeze some profits out in the interim!
Who's entering in some EOD positions? What are you buying? Let me know in the comments!
Market Outlook Feb 14th--->Feb 18th $SPYBreakdown of Each chart
Top left - S&P 500 / General market
Bottom left - QQQ / Nasdaq / Tech sector
Top right- XLF / Financial sector
Bottom right- Dollar index
Recap
Investors went on another wild ride this week, but ultimately US stock indices finished modestly below where they started. Trading remained choppy as traders digested another slew of earnings reports around the release of key US inflation data. Even before the CPI print inflation worries percolated, copper, iron ore, timber and coffee prices surged garnering attention. Quarterly earnings conference calls were rife with commentary about the expectation that companies will continue to raise prices through the remainder 2022 to offset rising supply chain costs. Also, a protest by Canadian truckers over vaccine mandates shut down several key bridges on the US/Canada border resulting in significant down time at multiple US automobile OEM facilities. WTI crude hit a fresh 8-year high on Friday spurred by reports that the US government now believes Russian President Putin has made the decision to invade Ukraine.
Thursday’s January CPI release spooked markets yet again, after coming in substantially hotter than already-goosed market expectations, reaching the highest annual pace since 1982. The upside surprise in the core index was spread across a wide range of categories, including some that have been heavily influenced by bottlenecks and others where price pressures could be viewed as more likely to stick. Stock markets came under pressure and Treasury yields immediately shot up on the news, led by the 2-year yield which surged 25 basis points, the largest daily gain since 2009. The 10-year yield retook 2% for the first time since 2019, but investors were also quick to fret over the narrowing of spreads or the curve flattening and what it might signal about future growth prospects. Futures markets quickly saw the odds of a 50 basis point March rate hike rise above 50%. By Friday, investment houses were aggressively ratcheting up their Federal Reserve tightening expectations after FOMC voter Bullard called for a 50bps hike in March, while also indicating significant quantitative tightening (balance sheet reduction) and perhaps intra-meeting hikes may also be necessary to get inflation under control. For the week, the S&P lost 1.8%, the DJIA was off 1%, and the Nasdaq fell 2.2%
In corporate news this week, Disney shares rose after reporting strong quarterly results, boosted by robust theme park attendance and higher than anticipated streaming service subscriber growth. Pfizer dropped after issuing a weaker 2022 outlook than expected, and late in the week said it would delay its application to the FDA to expand its Covid vaccine to kids under 5 until April. On the supply chain front, Intel’s CEO said the company expects chip wafer supply to remain tight through 2023, while FMC Corp noted they have seen initial signs of packaging costs easing. Republic Services confirmed plans to buy US Ecology for $2.2B in cash, and Republic added it plans to pursue additional tuck-in acquisitions in the environmental solutions sector.
Don't get PLAYED by Big Money: Inflation Trade Over?To trade the markets you have to be AWARE of the world and what is going on. We have to read the news every day but we should not always take what people are saying at face value. The news is never a leading indicator but it can at times be an INVERSE indicator. Don't get played by big money "talking their position" ...
In this video we look at examples of the last two years when the media hype was the OPPOSITE trade to take for...
AMEX:GLD
AMEX:USO
AMEX:SPY
NASDAQ:TLT
GOLD NEXT WEEK #19Forecast:
Addressing market sentiment regarding Gold backed ETF's, COMEX and BONDs etc. Daily chart analysis, looking at the Gold price from a broader perspective. Fib, 0.618 @ ~1848 is a potential target in May before a deeper correction.
About Gold Next Week #
A weekly 3-10-minute forecast video on Gold's price action on a weekly basis. I'll follow up with charts throughout the week as price action develops patterns and pivot reversals points.
Topics: Market sentiment, Gold Shares / Gold EFT's, $DXY and US10/30yr Bonds and Yields
System: I use a hybrid blend of Wave Principle price action, Fibonacci ratios, RSI indicator and some fundamentals.
Disclaimer: nothing talked about in this video should be regarded or seen as trade advise, a trade call, a recommendation, or a trade signal. Do your own due diligence or seek advice from a licensed professional before entering a trade.
Best Regards
OmarDjurhuus
GOLD NEXT WEEK #16Forecast:
The bullish counter trend Zig Zag pattern might finalize the C-wave this week and reverse to the downside. If it is only a narrow correction or beginning of a new bearish down trend, I can't say, yet.
The fib, extension levels 1,27, 141 have been taken out. If bulls have the upper hand they might push price action to 1,618 @ ~1805 before price action reverses. I'll keep you updated. Trade safe, be well...
About Gold Next Week #
A weekly 3-10-minute forecast video on Gold's price action on a weekly basis. I'll follow up with charts throughout the week as price action develops patterns and pivot reversals points.
Topics: Market sentiment, Gold Shares / Gold EFT's, $DXY and US10/30yr Bonds and Yields
System: I use a hybrid blend of Wave Principle price action, Fibonacci ratios, RSI indicator and some fundamentals.
Disclaimer: nothing talked about in this video should be regarded or seen as trade advise, a trade call, a recommendation, or a trade signal. Do your own due diligence or seek advice from a licensed professional before entering a trade.
Best Regards
OmarDjurhuus
GOLD NEXT WEEK #14Forecast:
If price action follows up on the Truncation/Double bottom pattern, then we can expect a countertrend ABC / Zigzag pattern. B-wave, pull back target's between ~1712 or ~1699. Final bullish C-wave, target's @ ~1776 or ~1787.
If price action picks up bearish sentiment and breaks low of ~1678, then target's to look for @ ~1662 or ~1655.
I'll keep you posted... Trade safe, be well
About Gold Next Week #
A weekly 3-10-minute forecast video on Gold's price action on a weekly basis. I'll follow up with charts throughout the week as price action develops patterns and pivot reversals points.
Topics: Market sentiment, Gold Shares / Gold EFT's, $DXY and US10/30yr bonds and yields
System: I use a hybrid blend of Wave Principle price action, Fibonacci ratios, RSI indicator and some fundamentals.
Disclaimer: nothing talked about in this video should be regarded or seen as trade advise, a trade call, a recommendation, or a trade signal. Do your own due diligence or seek advice from a licensed professional before entering a trade.
Best Regards
OmarDjurhuus
GOLD NEXT WEEK #12Forecast:
If momentum is strong this week, target's ~1762 and ~1785 before correction, but if price action develops truncation @ ~1755 and reverses, target's @ ~1714 - 1709ish.
About Gold Next Week #
A weekly 3-10-minute forecast video on Gold's price action on a weekly basis. I'll follow up with charts throughout the week as price action develops patterns and pivot reversals points.
Topics: Market sentiment, Gold Shares / Gold EFT's
- $DXY and US10/30yr bonds and yields
System: I use a hybrid blend of Wave Principle price action, Fibonacci ratios, RSI indicator and some fundamentals.
Disclaimer: nothing talked about in this video should be regarded or seen as trade advise, a trade call, a recommendation, or a trade signal. Do your own due diligence or seek advice from a licensed professional before entering a trade.
Best Regards
OmarDjurhuus
GOLD NEXT WEEK #011Forecast:
See some upside for gold this week, but it all depends on how bond-market play's out. Targets @ ~1746 and ~1762.
Also; I briefly address market sentimet - why gold is not favorable at the moment.
Video time: 06:13
About Gold Next Week #
A weekly 3-10-minute forecast video on Gold price for the coming week. I'll also follow up with charts throughout the week as price action develops patterns and pivot reversals points.
Topics - Market sentiment, Gold Shares / ETF's A-z, $DXY and US10/30yr Bond Yield
System: I use a hybrid blend of Wave Principle price action, Fibonacci ratios, RSI indicator and some Market Data.
Disclaimer: nothing talked about in this video should be regarded or seen as trade advise, a trade call, a recommendation, or a trade signal. Do your own due diligence or seek advice from a licensed professional before entering a trade.
Best Regards
OmarDjurhuus