Can't say what the NYMO cycle is. The oscillator has been flat for over a month.
Haven't seen anything like it. Flat NYMO, booming price.
Surprisingly, we have a dump today driving NYMO below the zero line.
At this point, it must be viewed as corrective, but time will tell if it is something more.
Price has cracked above the upper keltner and has reclaimed the broken magenta internal trend line.
It is bullish or a blow-off.
Some open gap targets below and as of this morning one above.
I am flat. Got taken out of long last week and was left behind.
Just watching equities for now.
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te_fern wrote:Good call Boss, hope you picked up some....
What‘s interesting is that GDX,NUGT often act like inverse-spy or inverse-iwm
(market down, sell that crap and buy gold, etc)
Problem is that it doesn’t always work that way...…. nothing works all the time... bye bye boss, have a nice weekend
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
te_fern wrote:Good call Boss, hope you picked up some....
What‘s interesting is that GDX,NUGT often act like inverse-spy or inverse-iwm
(market down, sell that crap and buy gold, etc)
Problem is that it doesn’t always work that way...…. nothing works all the time... bye bye boss, have a nice weekend
You too! I'm on vacation next week, going to see the leaves change....
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SMALL
That angle of decline is wide (not “steep”) befitting a recalcitrant bear
It will dead-cat-bounce
NY declining stocks = 2.5 x advancing stocks
NY declining volume = 2.2 x advancing volume
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.