That weekly target/support level I’ve mentioned previously is around 83.35 & AMZN recently came very close but not a full tag of that level yet. Sometimes a stock will get “close enough” to my buy target & reverse but bigger picture, with the major stock indices just recently hitting the bottom of my bear market rally zones & then going on to break down below the uptrend lines yesterday (and 60m bearish rising wedge patterns), coupled with the FOMC decision next week, personally, I’d hold off on accumulating any long-term positions for the foreseeable future, especially since this bear market so far lack anything closely resembling a capitulation/final leg down phase. JMHO but I can say that 83-85 is pretty good support on the long-term weekly chart of AMZN so a long here/there with stops somewhat below is certainly objective. Here’s my weekly chart.

Hi Randy,

Thank you very much for your analysis.

John

I can’t call it a “hard buy” on WEAT but definitely think this is a good time to either go full long or at least start scaling in for the next leg up in the bull market for wheat. I have decent (but not great) support on $WHEAT (futures) around 729 which it just hit & large positive (bullish) divergences on WEAT which is also just coming off oversold readings (sub 30 RSI) on the daily chart, which is really about all you need to justify going long for a swing or trend trade when wheat (or most securities) are in a bull market. Here’s my daily chart.

I still very much like the gold & silver miners both intermediate & longer-term but near-term, not sure how much more consolidation or downside they will need with EUR/USD just running into the key downtrend line & long-term resistance zone. However, once the EUR/USD clearly takes those levels out & starts the next leg up, gold, silver & the miners should run as well. Here’s my daily chart of NFGC with some resistance levels/targets. G-luck!

College funds/IRA’s where should we be looking at pivot points/ scaling?

Any thoughts on small miners like NFGC?