Bad News For Crude Oil Should Come From This Pattern, Says Joe Friday
It’s a good idea for investors to be aware of key indicators and inter-market relationships. Perhaps it’s watching the US Dollar as an indicator for precious metals or emerging markets. Or watching interest rates for the economy. Experience, history, and relationships...
Bull Case For Stocks, Testing Critical Breakout Level, Says The Inspector!
Some price points lend themselves to potential turning points. Is the S&P at one of those price points? The inspector suggests it is! This chart looks at the S&P 500 over the past couple of years. Fibonacci was applied to the 2018 highs and 2018 lows. The...
Hang Seng Index Double Topping At 2007 Highs?
Could the Hang Seng Index be "Double Topping" at its 2007 highs? Possible, yet not proven! The Hang Seng Index attempted to break above its 2007 highs at (1), only to see a key reversal pattern take place the following month. After the reversal pattern, the index has...
Tesla About To Run Out Of Energy Here? Short-Term Peak Possible?
Tesla (TSLA) has been screaming higher of late, as very impressive gains have taken place. Is Tesla about to run out of energy/take a break/experience some selling pressure? A unique price setup is in play, that bulls might want want to be aware of. This chart applies...
Could January Mark a Top for Oil and the Stock Market?
It’s a good idea for investors to be aware of key indicators and inter-market relationships. Perhaps it’s watching the US Dollar as an indicator for precious metals or emerging markets. Or watching interest rates for the economy. Experience, history, and relationships...
Gold Miners Double Topping Similar To 2013? Important Resistance Test In Play!
In September of 2019, Gold Miners ETF (GDX) testing long-term resistance at (1), and then it quickly declined 15%. This resistance level has been heavy for GDX has it failed to break above this level twice in 2013 and once in 2016. Each time GDX peaked in those years,...
Is Gold Spike and Reversal Lower Creating Bearish Pattern?
Gold bulls are feeling pretty good right now. Precious metals have been rising, the Dollar has been soft of late, and geopolitical tensions are causing investor concern. But as I type this, the price of gold is facing an important intermediate-term juncture. In...
Will US Dollar Reverse Higher Off Important Support Level?
As many investors know, King Dollar has a lot to do with the comings and goings of asset classes around the world, especially commodities (i.e. precious metals and oil) and emerging markets equities and debt). So pay attention here! The US Dollar Index decline is now...
Crude Oil About To Decline 50% Again? Will It Take Stocks With It Again?
Crude Oil double topped in late 2018, then it fell nearly 50% in 90-days, taking stocks along with it. Could Crude be "Double Topping" again? Let's investigate what the chart is showing us. Crude oil created a weekly Doji Star topping pattern at (1) in the summer of...
Reversal Of Misfortune Taking Place For The S&P 500?
Is a bearish reversal pattern in S&P 500 taking place at a key Fibonacci level? Possible! This chart looks at the S&P 500 on a weekly basis over the past few years, where Fibonacci was applied to the "weekly closing highs and lows" during 2018. The rally off...