This video covers the near-term outlook for the following securities in this order: QQQ, SPY, MDY, IWM, AAPL, GLD, GDX, UUP, USO & UNG:
This video begins with a discussion on the both the near & long-term outlook for the US Dollar, where the case is made for a near-term bounce followed by a longer-term decline in the Greenback (which would be near-term bearish & longer-term bullish for precious metals & the miners), followed [...]
This video makes a case for a trend reversal & near-term rally in the US Dollar along with a near-term bearish case for gold, silver, platinum, copper and other dollar sensitive assets, all of which still appear bullish from a longer-term perspective at this time (longer-term bearish $USD).
As requested by member @lee1 in the trading room, here are my thoughts on the USD/CAD pair: Viewing this 3-year chart with 2-day period candlesticks (every stick represents 2-days of price history), the USD/CAD recently broke down below this well-defined uptrend line following a blow-off top & divergent high (bearish). [...]
This video starts out with an overview of the US Dollar index, which has remained in a large sideways trading range for over a year now. I still favor a downside resolution of the pattern although the $USD is likely continue to grind around aimlessly until it breaks above or below [...]
I follow the US Dollar and the EUR/USD (Euro/US Dollar pair) closely as although I don't trade currencies often, a rising or falling Dollar usually affects the price of dollar sensitive assets such as gold & oil. So far in pre-market, GLD (gold ETF) popped earlier with about half of [...]
Overview of US equity markets, gold, GDX, major currencies and crude oil.
Following the recent whipsaw/false breakdown, the EUR/USD has made a solid breakdown confirmed by more than just a few candlesticks, as with the previous breakout. This breakout also occurred in the "sweet spot" where most wedge breakdowns typically occur (about 65-80% towards the apex of the wedge). With the Euro [...]
The reaction off the 2nd support level following the wedge breakdown perfectly coincided with a backtest of the primary downtrend line in GDX.. hence the bounce in the miners. EUR-USD 60-minute 3 Feb 10th A perfect kiss of the primary downtrend line from 2012 to produce the typical [...]
This EUR/USD bearish rising wedge breakdown + break of horizontal support is likely to bring the pair down to the 1.11ish target zone. Gray horizontal lines are minor support levels, any of which may produce a temporary reaction. Should the EUR/USD fall much below the bottom of my pullback target [...]