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Wednesday, August 11, 2021

Market Update 8/11/21 - mixed markets: Gold, Miners, Oil, Energy, Technology, $USD...

 This is a weird market with all the shakeouts, and not all that much volatility. Looking at a $VIX in the 16's. Feels like a well orchestrated re-balancing, than anything, although it looks like the $VIX could gain some traction from this level. Yesterday we saw Oil bounce out of the hole, while at the same time we saw a little shakeout in the Tech sector, and no doubt tech is set to bounce back today. 

 Seeing futures up on more stimulus (infrastructure) spending. The $550b bill still needs to pass the house, but the RINOs want to spend your hard earned tax dollars, just as much as the Dems do.

Bloomberg keeps reporting that the dollar rally is coming to an end? Not sure what that's about, but they must know something.  

I can tell you that I spotted this golden cross on the $USD chart, and that the breakout was the cause of the pullback in Oil, and Gold, and if you are trading either, you had better watch the 93.19 level, and both the 50 day moving average, and the 200 day moving average! 

I'm almost out of time, and short on sleep, so cutting this update short. 

If you're long the Jr. Gold miners, here's one to watch...

$BTG - Smallcap, up in premarket, bought at the 200 week moving average, at my pink support like :)

Good luck, AA 

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