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Wednesday, June 5, 2019

Absolutely Killing It! Kick-Ass Market Update 6/5/2019

It's been around a month since the last update, and since then we've see a nice little pullback to the DOW target I laid out last week, and confirmed on several different charts. Below is a simplified
version of charts you may have seen me tweet out recently. Shows a Doji reversal, at a key Fibonacci target. Stupid simple 

This time I decided not to rely so heavily on patterns on short term charts. I instead relayed on longer term charts, and the bearish pattern on the $VIX. This selloff have been very orderly and the $VIX never even got about 20.

You can see where the $VIX fell out of the bearish triangle yesterday morning, and this caused panic buying, just as I predicted - in another Tweet. Classic reversal.

 But wait there's more!


I also called the rally in the Mexican Peso, and the reversal on the $USD. 

 Here I am mocking the Dollar bulls, from my twitter feed - on May 30th

And here's the breakout and back-test of support - at my pink line - spotted on the PESO on May 31st

And below are the results only 2 days later:

We also saw a massive reversal in Gold, and Silver, which I've remained bullish on for the past several weeks

Of course it takes constant vigilance and patience to be right all the time, but the technical charts never cease to amaze me. I think I haven't missed a beat since the January surprise of 2018, when the $VIX bear ETF imploded. Not everything is predictable, but I find most things are...

Market opens in 10 min., so I have to cut this blog short.
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