Comments on: Stock Market, Gold, Silver, & GDX Analysis 4-6-23

By: trade0039

trade0039 — Mon, 10 Apr 2023 14:38:43 +0000

Semis is looking strong while QQQ is down 1.2% SOXX is up 0.4%. That sucks!

By: thebeagle55

thebeagle55 — Sat, 08 Apr 2023 15:16:52 +0000

exactly..also gold has done very well since the original neg div call..
again as before if i tell you its going to rain today in the desert and i
continue to say it everyday sooner or later i will be correct..think what you
want but the fact is that was a horrible call esp considering it was and is
labeled a (10)…

By: Jeff Vandenburgh

Jeff Vandenburgh — Fri, 07 Apr 2023 17:55:54 +0000

In reply to thebeagle55. You don’t need to be a great chart technician to see that QQQ is making higher highs and higher lows and is above all moving averages.

By: thebeagle55

thebeagle55 — Fri, 07 Apr 2023 17:18:44 +0000

wrong, wrong, and wrong again

By: Jeff Vandenburgh

Jeff Vandenburgh — Fri, 07 Apr 2023 02:34:24 +0000

In reply to michaelbt2. Great chart work! Thanks for posting. What I wonder is: will the next drop just be another buying opportunity? And my think is, as long as it continues to find supports above the 200MA, then the bull-trend is in tact and should be bought on dips.

By: michaelbt2

michaelbt2 — Fri, 07 Apr 2023 01:37:50 +0000

I believe the argument, although it seems very counter-trend, is that there are major divergences (on the daily charts) which haven’t been seen since the initial bear market drop in 2022.

For example, this link is QQQ: https://www.tradingview.com/x/XwJO8oLg/
It’s a daily timeframe.
We have (unconfirmed) negative divergence since that initial 2022 drop (as noted with the “DH” in the comment boxes).

The grey boxes, if interested, are the “bearish” PPO trends. If you’re lucky enough to get in on one of the LARGER drops, they last an average of about 35 days before the next potential bullish trend.

For me personally, I’m staying on the sidelines until we get a bearish PPO cross over paired with a break of an ascending trendline of the current trend.

By: Jeff Vandenburgh

Jeff Vandenburgh — Thu, 06 Apr 2023 20:08:28 +0000

Taking a step back and looking at the charts as a whole, stocks like MSFT and GOOGL look like they’re in solid recovery uptrends from beautiful basing patterns. Selling could begin at any moment as these tech stocks reach prominent resistance levels, but looking for a bigger leg down is like trying to pick the top of strong bull-market. So far, this is the year of BUY THE DIP. Trying to short this market now feels a lot like trying to short it in April and May of 2020.

By: Jeff Vandenburgh

Jeff Vandenburgh — Thu, 06 Apr 2023 19:57:46 +0000

Yesterday HYG gave a bearish signal for the market, but today shows bullish divergence, up almost twice as much as SPX and getting back up above all daily moving averages.

By: Jeff Vandenburgh

Jeff Vandenburgh — Thu, 06 Apr 2023 19:35:22 +0000

The only good thing about being a bear amidst this persistent rally is that by the time we get into earnings, all these mega-cap tech stocks will be so overbought that no earnings numbers will justify their freshly bloated valuations. Perhaps that is when a short in QQQ will work for more than a two or three day dip.

By: thebeagle55

thebeagle55 — Thu, 06 Apr 2023 18:54:19 +0000

problem is you would be broke if you had started a short position
on initial call for NQ, Gold and GDX.. sooner or later someone will be
correct if they keep saying the same thing over and over and over