rmajoran

rmajoran

There are a growing number of people who believe we are in somewhat of a megaphone pattern. If we take a look at the last time we breached the 1.618 FIB level (in Jan-Mar 2000), we can see the results. What's happening now is eerily similar, but in a compressed (almost 2x) format. I'm not suggesting that this pattern will hold true; I'm simply providing the idea...

rmajoran

This Weekly RSI trend line should certainly give one pause. Key touches in 2018 and 2020. Do with it as you will.

rmajoran Updated 

It's been a great run, hasn't it!?! Well, this could be the end (at least for now). FIB levels dating back to 2018 bring us right to this moment. Rejected perfectly today in the 413.80 region (which is also the 1.618 from the Feb 2020 high to March low). Certainly, there are lots of other FIB #s that could line up, but this one looks pretty compelling since I...

rmajoran

It's getting about that time. Lots of reasons for a pullback here.

rmajoran

Pretty sure we are getting to a point where we need to pull back. To what level, I'm not entirely sure, but let's start here.

rmajoran Updated 

Apple has a number of major trendiness dating back to October 2018. Based on what I'm seeing, I think Apple is going to finish it's retrace to ~$96 no later than October 13. This will bring it to a 50% retrace from the March low and September 2 high, and will land back on the trend line. From there, it should hit support at the trend line and then we'll see from...

rmajoran

X marks the spot. Here are three potential buy (green) and sell (red) points for Tesla. All points are based on trend lines. Enjoy!

rmajoran

I've been following the path of gold ($GLD) and silver ($SLV), and how it's been relating to $DXY. Here is the path that I think it will take. First, I think we're going to get to the .382 fib (~1838), then we're going to go back up to the .236 fib (~1929), and then back down to complete the 50% retrace at the .5 fib (~1765). From there, we should move up...

rmajoran

Keep an eye out and watch for breakouts either way.

rmajoran

Based on the overbought market conditions (on top of overpriced stocks), I'm thinking that a 50% retrace could be in order heading into the election season. I would say we're at least going to get to the 0.382 Fib (305.08), but ultimately to the 0.5 fib. We'll likely have a few bounces along the way, but if I had to guess, this is where we're heading.

rmajoran

Based on the strength of the US Dollar ($DXY) and the movement of gold, it looks like it could be retracing back to the $1765 area. $DXY $GLD $XAUUSD $XAGUSD $SLV

rmajoran

$XAUUSD (4 hour chart): head and shoulders pattern. I believe gold will drop to the trend line in the near future, which should provide a great buying opportunity. My target box is noted in pink. I'm not a professional or analyst. Just seeing what I see, and sharing it with you. $GLD $IAU $SLV $XAUUSD

rmajoran

For those concerned about $GLD $IAU $SLV going up long term, look at this as a multi-day/week event. It will go up, but it likely needs to pull back more first. It's not news/media that's pushing this down, but rather simple mathematical Fibonacci trends and channels that are following through. $DXY (the US dollar) will continue to rise until it either hits the...