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Wednesday, September 1, 2021

Market Update 9/1/21: Market to gap up, as predicted...

Seeing money being put to work, on the first trading day of the month, as usual. 

Should see the low volatility $SPX gap up into the bullish channel, as tweeted yesterday. 


 Yesterday, I caught @thechartress at Bloomberg reporting that the Baltic Dry Index is "spiking"? Yeah, we've been watching it spike for the past several months, so why wait until yesterday, to report it? I believe this is a dog whistle to the short sellers. Fake (financial) News agencies aren't to be trusted. 

No sooner than it was reported, the $BDI reversed    

The Baltic Exchange Dry Index fell 2.4% to 4,132 on Tuesday, easing from a more than 11-year high scaled on August 27th

$BDI - not sure about the Elliott Wave Count, but one thing is for sure, the price action has continued to whip-saw in an expanding triangle pattern, for the past 6 years. I'm kind of afraid what comes next, if shipping is going to grind to a sudden halt. I'm kind of leaning towards a nuclear war with China, but it could be any number of things, including a collapse in the $USD, or a European financial crisis. 

Maybe it's India, and China... which have had ongoing tension for many years. 

India - capitulation point. WWIII starts here? Somebody knows something, or they wouldn't be pumping the $INDY like this. 


Ladakh Stand-off Has Exposed India’s Failed Nuclear Deterrence against China. Now What? thewire

This looks like a capitulation point, so I'm looking to get short several sectors on this strength. We may also be seeing a capitulation point in Natural Gas this morning, as it touched $4.50.   

 I'm also looking at Gold, and US treasuries, as safe havens. 

GOLD - 2 charts to review in the public charts area - linked in the side menu. 

1. First chart shows where resistance - at the 50 week moving average - continues to be sold. 

2. Second chart shows a bullish parallel channel, with a gold target of $3000 

Could see consolidation in Gold continue into early Oct., but this is definitely something to watch!

Hope I'm wrong about WWIII, and have a great holiday, if I don't see you again. 


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