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Froddy · Jun 16, 2021

Absolutely beautiful AUD/USD 4 hour chart ...

Textbook broadening formation:

Chart Image

www.tradingview.com

And spot gold too:

Chart Image

www.tradingview.com

Wattie · Jun 16, 2021

Good buying opportunity for anyone looking to acquire physical.
Hilarious that the Fed can predict 2 years into the future init............
It’s a 1 trick pony. “Print/deceive”

Froddy · Jun 16, 2021

Wattie said:
Good buying opportunity for anyone looking to acquire physical.
Hilarious that the Fed can predict 2 years into the future init............
It’s a 1 trick pony. “Print/deceive”

It’s all total BS - they are buying time!

Contigo · Jun 17, 2021

Look at THR and CMRS both cheap right now.....

nigw · Jun 17, 2021

Contigo said:
Look at THR and CMRS both cheap right now.....

Hi Contigo, I can’t find CMRS. By THR do you mean Thermon Holdings or Thor Mining? The former has a P:E ratio over 400, so I’m guessing the latter?

D Walker · Jun 17, 2021

nigw said:
Hi Contigo, I can’t find CMRS. By THR do you mean Thermon Holdings or Thor Mining? The former has a P:E ratio over 400, so I’m guessing the latter?

Thor mining and Caerus Minerals Resources

nigw · Jun 17, 2021

D Walker said:
Thor mining and Caerus Minerals Resources

Ok, thanks. I can’t find much intel on Thor!

nigw · Jun 17, 2021

Froddy said:
Chaps,

The $SKEW reading has hit a new all-time high today, and should not be ignored - note how high SKEW readings have preceded previous declines (but not always).

Chart Image

www.tradingview.com

It's likely that I will go completely to cash over the coming days, to sit out the Fibonacci timing I identified last week.

US tech stocks are absolutely flying today - do you reckon there’s a drop coming Froddy?

Froddy · Jun 17, 2021

nigw said:
US tech stocks are absolutely flying today - do you reckon there’s a drop coming Froddy?

Hi Nigw,

Yes, the tech stocks are on fire today ...

Here's the Nasdaq ETF (the QQQ) daily chart:

Chart Image

www.tradingview.com

We are at an inflection point. I can't tell you whether price will fall from here, or break out; all I know is that there are many red flags in the market generally, and I would not be a buyer here. That's not to say that there aren't any good tech buys left - some stocks do their own thing.

It's important to understand that a handful of stocks influence the indices disproportionately, so the recorded change in the indices can disguise what's actually going on. The $ADD reading today is not painting a pretty picture - this measures the advancing stocks against the declining stocks:

I can't stress enough that until we get tomorrow out of the way, we won't really know the true market picture due to tomorrow being a significant options expiration day, when prices are highly manipulated to ensure that as many derivative contracts as possible expire completely worthless.

nigw · Jun 17, 2021

Froddy said:
Hi Nigw,

Yes, the tech stocks are on fire today ...

Here's the Nasdaq ETF (the QQQ) daily chart:

Chart Image

www.tradingview.com

We are at an inflection point. I can't tell you whether price will fall from here, or break out; all I know is that there are many red flags in the market generally, and I would not be a buyer here. That's not to say that there aren't any good tech buys left - some stocks do their own thing.

It's important to understand that a handful of stocks influence the indices disproportionately, so the recorded change in the indices can disguise what's actually going on. The $ADD reading today is not painting a pretty picture - this measures the advancing stocks against the declining stocks:

I can't stress enough that until we get tomorrow out of the way, we won't really know the true market picture due to tomorrow being a significant options expiration day, when prices are highly manipulated to ensure that as many derivative contracts as possible expire completely worthless.

Thanks. I dropped out of Facebook, Amazon, Microsoft and Apple earlier today….just got to wait and see whether that was a bad idea or not!

Froddy · Jun 17, 2021

nigw said:
Thanks. I dropped out of Facebook, Amazon, Microsoft and Apple earlier today….just got to wait and see whether that was a bad idea or not!

You got out at very sensible, key technical levels:

FB: +2ATR on the weekly

Chart Image

www.tradingview.com

AMZN: +3ATR on the daily

Chart Image

www.tradingview.com

MSFT: +2ATR on the daily

Chart Image

www.tradingview.com

AAPL: +2ATR on the daily

Chart Image

www.tradingview.com

These are significant levels, and it's no coincidence that inflection points are reached simultaneously in heavyweight stocks and the indices at options expiration. We need to be prepared for whatever comes next!

Froddy · Jun 21, 2021

Beauuuutiful broadening formation in the S&P (15 min chart below).

We are at an inflection point (again!) ...

Chart Image

www.tradingview.com

nigw · Jun 21, 2021

Froddy said:
You got out at very sensible, key technical levels:

FB: +2ATR on the weekly

Chart Image

www.tradingview.com

AMZN: +3ATR on the daily

Chart Image

www.tradingview.com

MSFT: +2ATR on the daily

Chart Image

www.tradingview.com

AAPL: +2ATR on the daily

Chart Image

www.tradingview.com

These are significant levels, and it's no coincidence that inflection points are reached simultaneously in heavyweight stocks and the indices at options expiration. We need to be prepared for whatever comes next!

Generally they dipped very marginally on Friday and have gained again today!

Froddy · Jun 21, 2021

Yes, the Nasdaq stocks have found support at the VPOC (volume point of control) - the purple line - and the volume shelf (circled).

QQQ,Daily vs Weekly Candlestick chart published by froddy

Invesco QQQ Trust, Series 1 Candlestick chart created with TrendSpider

share.trendspider.com

Where to from here? No idea - now just waiting for Wednesday's Fibonacci timing cycle to complete ...

stindig · Jun 21, 2021

I keep drawing flags but I don’t think I have the hang of it because the stocks refuse to behave

Froddy · Jun 21, 2021

stindig said:
View attachment 87112 View attachment 87113 View attachment 87114I keep drawing flags but I don’t think I have the hang of it because the stocks refuse to behave

I don't believe that for a minute, Stindig!

stindig · Jun 21, 2021

My stocks certainly aren’t behaving at the moment :-(

Froddy · Jun 21, 2021

stindig said:
My stocks certainly aren’t behaving at the moment :-(

Which ones, and are you long or short??

stindig · Jun 21, 2021

Remember, I’m into crypto and the market is on the floor at the moment. I’m holding though, as it’s all manipulation so that the institutions, who left it too late, can get a decent entry point. Crypto is an open ledger so you can see exactly who is buying, who is selling and who is holding. The big guys are just trying (successfully) to scare retail investors out of the market

stindig · Jun 21, 2021

At the end of the day, although I’m 40% down (which sounds horrific by normal stock standards), it’s a normal correction in crypto and I’m only back to February numbers. Currently buying a little bit of Bitcoin with the small change I have knocking around

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