Golden Trees of the Forest

Edward Hunt Has Had Over 100 Followers Rank: 11 Followers: 127 Votes: 304 Years Member: 8 Last Update: 3 December 2016, 16:39 Categories: Trend Analysis
Commodities
General Market Commentary

Dec 4 > A wild ride in the markets this past week. Will be updating some charts this weekend, especially the gold charts. Will simplify for easier access and maybe even add a couple new trade charts, 3 new JNUG, including a JNUG 2hr 15 day Renko chart. Being that the metals have dropped into a deep lower range, JNUG and NUGT may now be in a area for trading again. Metals might even be in line for a Christmas rally, who knows. Good weekend to all.

Dec 3 > 11:30 am TGIF> Took profits in LABD at 17.43. If one has profits in UGAZ and UWTI, take them now. No need to loose them. Gold and metals up this morning. Market very undecided for direction, but a lot of selling hit the SOXL and the $COMPQ yesterday.

Dec 2 > 2:30 pm> So what about this Trump rally? Over my friend. The market has turned nasty since yesterday. But the Dow hasn't figured it out yet.. My charts are spot on the turn. BTD dates so far, right on the money. Much technical damage today. The traders still loving the oil trade..... Volatility coming back? Think not? The Dow (30 stocks) will not hold this market up my friend...$SPX 2193 was support.
Two great charts to look at are LABU and LABD 5 mo solid line custom (760x1100) Hold the LABD. More later.... Have a great day and always remember patience and diligence.

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! ! ! ! ! ! ! XIV - Inverse VIX - 10 Min 60 Day Candlesticks, 1280

! ! ! ! ! ! $SPX - 14 Mo Daily Heiken-Ashi, 1280

Nov 27 > A new S&P BTD (Bradley Turn Date) arrives on Mon Nov 28. This is to be a 100/100 power and of declination. Feb and June also had a BTD and a power of 100/100 from which the markets rallied hard. The situation has changed today, as this date falls on market highs. Some BDT's have absolute no market reactions for direction, while others have pronounced market moves. The day of BDT does not mean a turn on that date, but to be aware of a possibility. Being that theses dates are determined months ahead and are derived from calculation of alignment of the planets, so no major turn is guaranteed. $SPX 1 hr chart 16 mo Renko and the SPY chart say a whole lot. A power of declination would seem justifiable. ..A major turn may be closer to the next FOMC meeting and rate hike?

! ! ! ! ! ! $SPX - Weekly 5 mo Renko, 1280

! ! ! ! ! ! $SPX***** - Weekly 8 mo Renko, 1280

! ! ! ! ! ! $VIX***** - Weekly 3 mo Renko, 1280

! ! ! ! ! $BPSPX - Daily 15 Mo Candlesticks, 1280

! ! ! ! ! $GOLD - Daily 3 yr Area, 1280

! ! ! ! ! $INDU *****- 2 hour 3 years Area, 1280

! ! ! ! ! $INDU - 2 hour Elder Impulse System, 1280

My rules in trading are:

Rule #1 > If price drops below entry point, sell immediately. This is one of the most stressed upon points in trading, as it protects capital and prevents losses.
Rule #2 > Never get brave and buy anything on its way down.
Rule #3 > Always wait for chart indicators to turn up off the bottom before placing a trade. (Only use charts with timely and good clear, easy to understand indicators.)
Rule #4 > Always obey the indicators on your charts.
Rule #5 > Use trading stops to protect capital.

If you follow these simple rules, trading and winning will be on your side.

! ! ! ! ! $INDU - 2 hr 3 yr candlesticks, 1280

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