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The big thing I want to talk about is that gold found support again at the green line on the color blind chart. All of the fractals for it point lower, but it might find support at 1680 level as well. That was my original target for gold to break out of the reverse H&S a long time ago, and was major resistance on the run up to 2100. I think that it will at least find some temporary footing there.
Silver sure got to the 24 area quickly, eh? I was just saying something about that not too long ago, and it dropped like a stone to there. I thought the G:S ratio might get higher than it did, so that could still happen by silver dropping more or by gold starting another uptrend.
Charts I am interested in for near term pops are SINO and perhaps ARKK. ARKK looks like it wants to break out of its downchannel, and it should retest the broken down trendline.
I have also had my eye on AMD for a couple of weeks now... as in... will it break down from the weekly trendline? That trendline has been money for a few years, so if it breaks down we can see some carnage but I do not think that is what will happen. I have definitely been wrong before!
Thanks for coming by and good luck trading!
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