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Categories:Gold / Gold Stocks
4:45am- Added a GDX 60min chart---> buy the pullback, stop under the rising channel.
4:30am- SPX could be entering a bear market. It wants to test the 10-14-21 gap between 4372-4386. Resistance is now 4500. It took out its 30-week ema support yesterday. Last line in the sand is at its 34-week ema, as of yesterday"s close, at 4465. Sure, there will be a bounce, but it is not looking good as the Fed cuts liquidity. The markets are correcting rapidly.
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1-7-22 Folks are real bullish on energy stocks here, but 95-100 area is a SellZone, or an area to really tighten up the stops at least. Notice how XLE has reached a seven month resistance line. Plus, too many bulls here. The gap left behind from Tuesday 1-3-22 is highly likely to test or fill.
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