Friday, December 29, 2023

EOY Window Dressing Continues into 2024

 EOY Window Dressing Continues 

Am I surprised? Not at all. 

This is exactly what I've been predicting all year, and in the end the market engineers only took a page from the 2021 playbook. 

This isn't the first time they drove stocks up into the end of the year, in order to avoid paying the higher capital gains tax on short term investments, and after seeing what they did in 2021, it was easy to see a repeat coming. 

I also knew that the financial engineers needed to dress the windows on the counterfeit Joe Biden presidency, and it's failed policies. 

News flash: New Market Highs  

Can this rally continue into 2024? I think if the powers that be can control the outcome of elections, and even control the weather, then rigging the market a little higher shouldn't be a problem...

Speaking of the weather, it's easy to predict that we will at some point get something that looks like winter weather, just as we are getting something that resembles a bull market, but make no mistake about it; there's nothing natural about it. 

Engineered Winter Weather

   Take a look at the images in the video linked in that tweet, and you can actually see them spraying the ice nucleation chemicals. 

I'm going to suggest that you protect yourself, and your family, from the chemical fallout from this process, and especially if you live in an area that is constantly bombarded from the Geoengineering ops overhead. 

The nanoparticulate fallout is highly toxic, and so small that it crosses the blood brain barrier. 

I can't say that filtering the air is going to be 100% effective, but it is definitely better than nothing, and offers some peace of mind.  

I run a Winix HEPA Air Purifier [linked] in my living space 24/7, and am thinking about picking up a second unit - that doesn't require replacement filters - for the office.  

Kenmore PM2010 Air Purifiers with H13 True HEPA Filter, Covers Up to 1200 Sq.Foot

The newest technology in Air filtration, doesn't require replacement filters:  

Nuwave Whole House Air Purifiers, Oxypure Smart Air Purifier with 5 Stage Tower Structure Air Filter, Air Quality & Odor Sensors, Sleep Mode for Bedroom, Remove 99.99% of Dust, Smoke, Pollen, Allergen



Getting back to the rigged market

This end of year rally also reminds me of the rally in energy, which fizzled this year, and that's one of the reasons we saw a massive sector rotation into the same old technology stocks, and even Bitcoin. 

$IYE Energy takes 2 months to top out - Sept - Oct. - before establishing a new trend. 


The "dipshits" I reference in the annotations are the Fast Money clowns who continued to push the energy trade for months on end, and even as late as November they continue to like the sector lol 

Treasuries 

Another big driver of this rally was the reversal in Treasuries, and getting that call right, all but guaranteed, that I would indeed be on the right side of history, going into the end of the year.

In July I found myself down quite a bit, as we had to wait for the market to roll over, and the longer it takes for stocks to roll over, the more bleed occurs in leveraged ETFs. 

Small Caps

$RUT Russell 2000 small caps look very similar, as the sector continues to retest the highs, for the 3rd time this month. Some people call this a 3rd drive higher, in order to get the bears to capitulate. 


I just call this, "beating a dead horse". 

The volume is drying up on the $SPX, and as they say, volume precedes price (direction), so watch for a nasty correction, in the beginning of the new year. 

Take care, AA
   

 Small Caps, $SPX, #Mag7, #VIX, Energy Trade #Finanical Engineering & #GeoEngineering  


Thursday, December 28, 2023

Santa Rally?

Santa Rally? 

That's what the skeleton crew at CNBC - working over the long holiday - was calling the retest of the highs of last week. Could the financial lame stream media be any lamer?   

It seems to me nobody wants to chase another low volume rally - after what happened over the summer - and even the fast money crew is looking for a sector rotation, out of the high fliers, and back into energy, or even financials? Do these fools not realize the $BANK index is already up over 17% for the month? They even mentioned a possible rally in biotech stocks, so they seem to be grasping at straws.

The High Fliers Continue to Hold Up of Course 

I'm going to give you the same advice I gave last year, and that is to chart all the overweight components in the Nasdaq/ $QQQ's, the $SPX, and Dow. That will give you a good insight into how the major indices are continually rigged higher.    

Broadcom $AVGO - for instance - driven into a short squeeze, just ahead of the Christmas break. 


And Speaking of Semiconductor Manufacturers 

I was actually stunned by the announcement of the most recent Intel Israel entanglement, but what is even more shocking to me is that this has been building over an entire generation. 

See: 

 

Intel in Israel: A Fab Relationship Faces Criticism

September 29, 2014 • 15 min read

One of the biggest players in Israel’s growing tech sector, U.S.-based Intel has drawn considerable controversy because of the subsidies it has received over the years to build and expand its presence there. 

From that article: 

Going back three decades, Intel’s Israeli R&D center created the 8088, a cheaper version of Intel’s flagship 8086 processor that was adopted by IBM to power its first personal computer. Later, it was Israeli engineers who coaxed headquarters back in Santa Clara to abandon a planned shift into RISC technology and instead improve the best-selling 486 into a line of microprocessors that came to be known as the Pentiums (although the chip itself was designed in the U.S.).

Of course Wall Street celebrated the confirmation of yet another Israel Intel (US) entanglement, with a test of the 2000 highs.  

Intel $INTC


As far as the broader market is concerned:

I'm still expecting a bit of a shakeout, before money is put to work in 2024. 

$VIX - I thought the $VIX may have been hammered to the 11.50 level over the holidays, but I think we could see the 20 level tested, first.  

Take care, 

AA 




Thursday, December 21, 2023

Taking a closer look at yesterdays sudden sell-off $NVDA $MU #Taiwan #Stocks #FlashCrash

Yesterday afternoon - a little after 1 PM CST - I noticed stocks take a sudden dive, and panic selling continue into the close. 

The market rally was already looking really tired; and I alerted to the fact that upside momentum had dried up. This was the perfect opportunity for a serious market reversal. 

Whether I was Net short at the time, I'll leave that up to your imagination.   

Lame Steam Media 

I noticed Bloomberg report that stocks had taken a dive, but nothing of substance... 

Brilliant! lol  


I watched a little Fast Money yesterday evening to see what their take on the situation was, and they were clueless... as usual. Guy Adami, who is usually pretty sharp, pointed to some - "Taiwan" - news which came out yesterday morning.  

Top Republicans alarmed by 'beyond unnerving' report Xi warned Biden that China WILL reunify with Taiwan in blunt message during crunch talks in San Francisco dailymail.com


It could be that some top republicans put in sell orders, and that those execute a little earlier than the rest of Wall Street, just as we saw several corrupt senators in DC liquidate their portfolios ahead of the release of the covid story. 





And The Band Played On 


Technical Reversal 

Whatever the case, someone with a heavy hand came in and sold everything, and that caused some selling contagion. The selling was broad based, unlike the rally of the past few weeks.   
   
I don't see anyone wanting to build a big short position ahead of the Christmas break, and volume and volatility is already very light. 

Maybe this was only a shot across the proverbial bow. We probably won't know until traders return from holiday. 

One reason for a plunge this deep - on an intraday basis - is that the market is so thinly traded. There's just not much of a bid. 

The only thing that kept yesterday's plunge from turning into a flash-crash, is the fact that the volatility is so low. The market just isn't able to make gigantic moves with the $VIX trading around these 12 - 13 levels. 

A couple things to note:  

This kind of thing is really rare, for markets to make a new recent high, only to give back all the gains of the past week. 

Last time we saw a mid day reversal this bad, was the one which marked the top back in July. 

For that reason it's worth keeping a close eye on over the next few days/ weeks. 

The Taiwan situation could be the catalyst for the next big market crash, but not when the controllers are waiting until 2024 to take profits on their AI rally. 

Stocks to watch is NVIDIA $NVDA 

This stock seems to be the only stock that matters to Wall Street, and you can see the technical pullback, which in part is to blame for yesterday's sudden reversal. 

NVIDIA $NVDA - you should also be watching the 200x moving averages on the 15 min. charts, since this is what the AI programs are trading. If these levels break, then we are going to see plenty more days like yesterday.  






Micron $MU - beat earnings just in time for another short squeeze...



Merry Christmas! 
AA










Tuesday, December 19, 2023

7 er 6 Stocks continue to drive Markets higher

 Yesterday's action was a prime example of how FAANG (by a different name (the magnificent 7) are being used to drive the Dow, and the $SPX, not to mention the $QQQ. 

Yesterday, we saw Apple pull  back slightly, on a couple negative news reports, and the market's answer to that, was to pump the other 6 critical market high fliers to the moon. 

Of course they're still using the same leveraged FAANG stock ETFs to help accomplish this; including ProShares Ultra QQQ - one of yesterday's top performers.

 $QLD ProShares Ultra QQQ - up 1.45% - Typical Monday 



$AAPD - the 1X Apple Bear - looks like it's being sold (short), for added leverage. 



I pointed out the same thing earlier in the year; and these leveraged ETF's have actually been used to

drive markets, in both directions since 2007, but this trend continues to ramp up!  

There's even a 3X NFLX fund which holds 8,384 shares of  $NFLX, and that was up a whopping 8.81% yesterday! 

$IX3XNFLX - up 8.81% on yesterday's pump 


Amazon is another one 

$AMZD - Leveraged Bear ETF - hammered to a new recent low. There's just no other explanation for why this chart is working so well. Manipulators gonna manipulate. 



Truly uncanny, and I could spend the entire day offering more examples... 

What else is new is that Stock Screeners are being used to buy the 20 day moving averages... 

Below is a good example from Barchart.com 

The 2 examples above are clearly contributing to the market bubble we find ourselves trading in.

This seems awfully short sighted, but as long as fast money is moving markets, these short term averages will continue to work.  

Take care, 

AA 






Monday, December 18, 2023

Donald Trump predicted the market would crash under Joe Biden, and here it comes...

First off: I sent out a Newsletter Sat. morning, letting my people know that I've taken profits on the Nov./Dec. rally. I didn't want to leave anyone hanging.

As you may recall; back in early November I called the bottom on the bond market, and then most recently I went all in, into small caps, which have vastly out-performed over the past few weeks. 

$RUT (IYM) Russell 2000 small caps - I can show you the chart, now that all my targets have been taken out. 


The recent market action is the most ridiculous, in recent memory, and the lame stream media has had to continually bend over backwards to make excuses for it. First calling it an AI boom, then a hawkish fed pause, then a bullish fed pause, and most recently a fed "pivot", but the truth is this is just another pump job designed to pull the wool over the eyes of the average Joe, and to make our counterfeit president look good, and Donald Trump look bad, as they continue to declare victory, at what they are calling "New Market Highs".

I predicted that we would see a massive EOY Rally in an attempt to help Joe Biden, in 2024, and here we are.

Who watches the Dow? That's right, Joe Sixpack, and these rallies to nowhere are all about election interference, just as I predicted would occur, going into the end of the year, but this isn't the first time....  

Remember when $SPX futures were driven to 5000, on Joe Bidens inauguration. That was real cute!
To be honest I had a little trouble with that overshoot - on a technical basis - but it all makes perfect sense now! Trillions were printed, and used to pump the Ponzi market. 
Immediately after Friday's close: 

As I've pointed out in the past, the market can only trade (bullish) like this,  on very light volume, be it in July, or Nov/ Dec. - it's that low volume periods like these are prime time for manipulation.


Also US dollar lower, stocks higher

This is all smoke and mirrors, as I pointed out again last Thursday; look at the Dow priced in Gold.

Also Inflation

Think of the market at a carton of eggs, and when the price of a carton of eggs goes up farmers are told to celebrate. The problem is that a carton of eggs is priced in worthless dollars, so the cost of chickens, and chicken coops, and feed, and the cost of transporting eggs also goes up, but to the average person they look at the price of a carton of eggs double, and think, "wow there farmers are getting rich".


Getting to the play action, and some charts:


I could only watch a few minutes of Fast Money, but it didn't take long for the host to ask if the traders on the panel if they believe stocks are going higher into the end of the year - in less than 3 weeks, and they all raise their hands lol

The thing is, this rally has already  slowed, and several sectors have already painted bearish candles on daily Candlestick charts, and any money manager with an ounce of  common sense is going to raise some cash ahead of the new year.

It seems to me that the controllers have already accomplished their goal - positive headlines - and now it's time to take profits.

Let's take a look at the financials (banks) since CNBC and Bloomberg want to talk about how great it is that all the  losses - due to miss regulation - under Joe Biden - have somehow been "recouped". Yes, I actually heard this reported, and I knew they were lying, before I even pulled up a chart.

Financials Chart- this is a great example of why you don't see any relevant charts on Fast Money




If we can get a good market crash here, we could see a nice Santa Rally around the 1st of the (new) year, and that would set up for a much larger correction. 

Sooner or later, the Chickens are coming home to roost, in the form of an economic contraction. They prevented it in 2001, by deregulating the banks, and then again in 2008, by bailing out the failed banks. Today they just print trillions, and report lies, in order to give the illusion that we're not already living in an economic downturn (crash). 

Homework: Chart several sectors and look for bearish reversal candles

Take care,

AA

P.S. the market rigging is global, and starts in Germany 

#DAX takes out the 17k target 







Friday, December 15, 2023

Taking a look at the $USD

I was watching Fast Money traders trying to figure out what's up with the $USD, and as usual, most of them got it completely wrong. They even had Chris Verrone on, to pump gold, and he pulled up a $USD chart, but he's a long time gold bug, and has no charting skills whatsoever. 

I understand the inherent value gold has but I could care less if gold goes up or down. 

Flashback to an update I did on the Santa Claus rally last January: 

Tuesday Jan. 10th, 2023 

"Bloomberg continues to push a strong EURO narrative, while trying to talk down the $USD; that caused me to take a closer look at currencies this morning.  

$USD down, stocks up, seems to be the recent trend (since Oct.) Makes sense right? A weak dollar makes the market look like it's going higher?" 

Fast Forward to today's bearish $USD story 



I'll leave it to you to predict what comes next, but once you see every investor on Wall Street, on the same side of the trade, and the lame stream media pushing the same narrative, I'm going to take the contrarian view every time. 

Take care, 
AA



Thursday, December 14, 2023

Is this bearish capitulation?

 


We saw the Dow make a new all time high,  on yesterday's FOMC announcement, and of course the lame stream media - who writes the script - was seen cheering the 500 point surge on the Dow.  

I kind of saw this coming in Sept. when I said ,"I think the market is setting up to appoint a whole new group of (market) leaders, as we trade into 2024." 

 I was partially right - on that call - although we aren't trading in 2024. This is still 2023, and we continue to see the bulls cling to the same old high fliers, as they have... in the past.  

Knowing that the DOW tends to lag this sort of rally, and that this is short squeeze season - as I've written about too many times to count - also has my spidey senses tingling. 

Is this bearish capitulation? 

This looks like the kind of capitulation we've seen in the past. That's a term you never hear traders talk about anymore. 

It seems that all we ever hear nowadays is "soft landing". 

What I find most disturbing about yesterday's rally, is that the market immediately started pricing in high inflation, as investors rushed into Gold, and Bitcoin. 

Gold

I saw that coming! 

3X gold miners surged 12% - probably the best trade of the day 

I guess I sold small caps a little early, but I'm fine with that 

$SML S&P Small Caps - updated chart 

$SPX - I can show you what I found on the S&P 500, because I have no interest in this rigged market. 



$VIX failed to take out the 11.50 target, but we could still see that before year end. 

Take Care, 

AA




Wednesday, December 13, 2023

Rigged Markets Continue into today's FOMC announcement

 Market continues to be held up on light holiday volume, as expected. 

Of course, the most heavily manipulated stocks - as I pointed out yesterday - are high fliers such as - 

Broadcom $AVGO -

 


One of the reasons Broadcom is driven higher, is because it's a Top 10 $QQQ holding.    

$QQQ - This one is key... as I pointed out earlier in the year. 

Note the rally started all the way back in Oct 2022. 


I predicted earlier in the year that the powers that be would run stocks up into the end of the year, in order to avoid higher capital gains tax, and here we are. 

Broad Market Rally? 

Markets are rigged one sector at a time, and one sector that most folks don't even look at - let alone trade - is consumer cyclicals. 

The chart embedded in yesterday's tweet is a tell: 


Another thing I noticed yesterday is that while the $SPX was up .46% on a breakout to new recent highs, the $NYSE was barely up.

$SPX - rigged 


$NYSE - not rigged 


Another thing to note is this morning's (psychological) round number targets being taken out in pre-market! 

$SPX 4,700 

$DJIA 37,000

Speaking of rigged futures markets

I think most traders are unaware that the $SPX futures were driven above the 5000 target, in 2021!

It's all about the rigged futures, and options markets.   

$SML - S&P Small Caps - takes out my target 


ChaChing! 

I moved the 401k 100% out of #stocks at today's closing bell. I ain't playing chicken with this runaway freight train. Gains are all locked in for the year #ChaChing!

— Veteran Market Timer (@3Xtraders) December 12, 2023

Of course it can go a little higher, but I got a bad case of weak hands; not knowing what Jerome Powell is going to say today.  

The headlines 

As predicted the powers that be continue to try to help Joe Biden.... 

I believe this will all blow up in their faces in 2024, and I can't wait..! 

The $VIX 

I think the bulls can hammer the $VIX below their 11.50 target on today's Fed release, but I'm not taking any chances, as we trade into Dec. Options Expiration. 

Take care,

AA 

 



Tuesday, December 12, 2023

CNBC - Fast Money - Karen Finerman admits she owns Bitcoin, $SPX, Tech Stocks Update

Karen Finerman admits she owns Bitcoin. 

Less than 1 week later; a flash crash in Bitcoin.   


It flashcrashed nearly 10% overnight, and nothing reported on it.  

What a great contrarian indicator CNBC Fast Money is!

I don't know what any serious money manager would be buying Bitcoin, and then admitting it on television, but apparently this isn't the first time...


The Truth about Bitcoin 

The truth is Bitcoin has been trading in a sideways range - like most everything else - for going on 5 years now! Is a worthless thing, which is backed by nothingness, and to compare it to gold is utter idiocy.    

Homework 

Chart Bitcoin 

Find where Bitcoin was trading in Oct 2021, and see what happened next 

The broader market? 

Don't even get me started... 

Yes, I'm still Net Long in the 401k account, but I'm unimpressed with yesterday's Monday morning surprise to the upside, in the same sector - the only sector - that's been pumped for the past several years, Tech. 

$PSE - NYSE Arca Tech 100 Index - Trading at all time highs 



$DJUSTC Dow Tech - Not much of a breakout, but a good thorough retest of the 2021 bubble level. 


The SPX?


Take Care, AA





Friday, December 8, 2023

Gold Silver Copper Metals Trading Competition Next Week

StoneX + CME Group Metal Futures Trading Challenge (linked) 

 First off:

1. I get nothing for promoting this contest.

2. It is obsoletely free. 

Of course commodities trading isn't for everyone, but If you want a crash course... then I suggest you sign up. I did the oil trading challenge a couple months ago, and although I barely broke even - let alone win... - I found it to be a great learning experience. 

I also figure it should be a good distraction, as the broader market trades the typical holiday doldrums.  

I've already signed up for this metal trading challenge, and I see a gold trade coming up. 

$GOLD - expecting a little retest of the recent highs 

$GOLD - Short term already looks like it's building a base, and probably setting up for a powerful little suckers rally, as soon as next week. 

Silver looks even worse to me, so I may sell that instead, but I haven't even had time to look at the charts. 

Copper also looks bearish, but this will also require some extra charting. 

If folks are interested in this trading contest, and seeing more charts, please chime in, either here, or on my Twitter. 

Take Care, AA 

 



Thursday, December 7, 2023

Looking back at yesterday's sell-off - what the Lame Stream Media isn't telling you

 Looking back at yesterday's sell-off - 
what the Lame Stream Media isn't telling you 

Yesterday was an interesting, and unusual trading day. 

Here's my account of how it went down:

Most sectors gapped up at the open, with the Dow, and the Russell 2000, actually touching new (recent) intra-day highs, before selling ensued. 

1. At first the selling looked like an ordinary gap-fade. 

2. The Russell rallied into the first hour, before it rolled over.  

3. The selling continued to gain stream throughout the day, accelerating into the close.        

I can't find any news being reported on yesterday's nasty - midday - reversal, and since the lame stream media declined to cover it, I'm going to have to assume it had something to do with Joe Biden's threat to send US ground troops to fight Russia over Ukraine. Yes, this actually happened! 

Can you imagine if Trump said something this irresponsible? The left wing media would be calling him unhinged!  

Biden: Help Ukraine Now or Send Americans to Fight Russia With NATO Later usnews.com



Al Jazeera offers some honest reporting on the situation: 

I think everybody - including Vladimir Putin - knows Joe Biden is bluffing, and the leftists are only interested in skimming more money from the situation they created in Ukraine.  

The other thing not being widely reported is 

China warns of firm response after UK sanctions Chinese firms 'supplying Russia's war effort' news.sky.com

China's embassy says it firmly opposes the sanctions and warns any action harming China's interests "will be met with a firm response".

We also had a Moody's downgrade of Chinese debt, but Chinese stocks actually rallied on the news.

Speaking of China 

I believe China is probably getting close to a bottom, and we're probably due for another sector rotation, since this is the closest thing to a bull market the bulls can seem to come up with. 

Perhaps they drive energy stocks back up as well, as they take profits in tech. 

Either way; I expect whac-a-mole markets to continue into 2024.   
 
Take care, 
AA 




Tuesday, December 5, 2023

The Everything Bubble

The Everything Bubble 

I'm still getting the new computer system dialed in, after last week's new build: 

It had been nearly 10 years since my previous upgrade, but thanks to the chip shortage I was encouraged to put it off for an extra couple years, and now I'm getting a tremendous bang for my buck. I was able to build a new system that is practically twice as powerful/fast, for half the cost - around $500. Not a bad price for a powerful new gaming computer! 

If you are in need of a new computer, I suggest you shop now, and you won't even have to build it yourself. 

To give you some idea of the deals that can be had in this market environment: 
    
 

Dell Optiplex 9020 Desktop Bundle with Intel Core i5-4570, 16GB DDR3, 500GB SSD, Keyboard and Mouse, 2 24in Monitors, WiFi, Windows 10 Pro (Renewed) 

$230.00

Back to my system:  

I finally got my 4th monitor back up and running yesterday, after I found I was short 1 display port ---> to HDMI cable, as per the layout on the new video card.   

PowerColor Fighter AMD Radeon RX 6600 Graphics Card


I'm still working with 1080p monitors so that was all the power I needed to play the latest games, some of which actually came out several years ago. I've been playing Red Dead Redemption 2, which I can tell you is all encompassing, and the atmospherics are absolutely stunning!     

I also needed to pick up a new keyboard, since the old ps2 plugs are pretty much obsolete, and I'm still getting the feel for that this morning. For some unknown reason I keep starting new sentences in italics, which is annoying, to say the least!   

The Everything Bubble 

It's not just the price of computer components crashing, it's smart TV's  for as low as $89.99! 

Of course 4k ready models can still be quite expensive, but there are deals to be had, even at the high end of the spectrum! 

For example 

LG 55-Inch Class UQ7570 Series 4K Smart TV, AI-Powered 4K, Cloud Gaming (55UQ7570PUJ, 2022), Black $346.99

.



The Real Everything Bubble 

The Real Everything Bubble can be found in well, everything. 

Just look at the price of Bitcoin, Gold, and Housing, as massive liquidity continues to chase anything of (perceived) value. Look at the - so called - "AI boom", and tell me that's not about to go bust. 

 I can't say if that bubble will bust in 2024, or 2 more years from now, but the headlines tell me that we're already there! 

Nvidia and 2 Smaller AI Stocks That Look Undervalued. They Could Be Big Winners. barrons.com



  

Be careful here, and watch the 20 day moving averages

Take Care, 

AA

  

  

Monday, December 4, 2023

A November To Remember?

 

 A November To Remember

 

This was the false narrative I saw being pushed by the lame stream media, immediately after Friday closing bell; "A November To Remember". 

I also saw someone on Bloomberg refer to it as the "everything rally",


which is a bold faced lie.  

Anyone who is still buying the dip on China, and Energy stocks, would have to agree....

 

Granted this has been a nice rally, but looking back at recent history, it was really nothing to write home about. 

$NYSE - comparing the past 3 November rallies - 


Bloomberg also referred to the short sellers being "sad", which takes the cake, when most pro short sellers covered in early Nov., ahead of the Thanksgiving break. 

I later saw the fool who hosts "Balance of Power", pose the question to a scheduled guest... "how does the November rally help Joe Biden in 2024" - paraphrasing. Then it all made sense... and just as I predicted earlier in the year, stocks would rally in order to help the current administration....

How much longer can this rally last? 

Not much longer - I think - now that we see the Dow - which typically lags - catching up. 

That was another prediction... that Dow stocks would lead.... and I think we will see more of that in 2024.

I was planning to send out a newsletter telling folks  that I had gotten the 401k out of the bond fund - which I did - but I never got around to it, and since I actually went all in on the Small Cap fund - I was already invested in - I didn't see any urgency...  

I think the marker can go a little higher, as we get closer to Hanukkah, which just happens to fall on OPEX Friday. That's the date I'm watching. 

Take Care, 

AA 





Thursday, November 30, 2023

Taking another look at this rally in Gold

 A 1 day short covering rally in gold, which was telegraphed by Fast Money traders - weeks ago - doesn't a bull market make, and any time I see the usual suspects pumping a rally on TV, I usually take the opposite side of that trade; at least in the longer term; so perhaps my opinion is overwhelmingly bias, but the fact remains, gold has NOT broken out. Talk of a breakout is just talk 

1. Is the $USD crashing? No, despite what the host of Fast Money falsely reported this week.

2.  Is the 4th time (testing the$2000 level) - in 4 years - going to be a charm? Maybe 

3. Could we see another false breakout  - like the one we saw earlier in the year? Possibly 

We know the rats of Wall Street will drive anything into a breakout, in order to squeeze a few short sellers, and especially on low holiday volume. 

Couple things in the charts; to add to what I pointed out yesterday: 

$USD - Doesn't look like a "crash" to me. 




$GOLD Weekly View - 1. Buying of the moving averages. 2. The slightly higher false breakout we saw earlier in the year. Does that count? Not in my book. Looks like a quadruple top; if there is such a thing. 



$SPX: Gold The rug was also pulled on the $SPX priced in Gold. Who does this? 


Another thing I noticed yesterday, was that Silver was also driven higher.... 

$SLV - Silver - another orchestrated 1 day short squeeze. Looks like a bearish zigzag pattern. If you know Elliott Wave Theory then you know....   



I think it's more likely that yields are about to spike, with the $USD, and that will likely crash gold, or silver, or both, so watch for that.   

What I can't figure out is, why did traders choose Wed. of this week to pull this stunt?  

Take care, AA