The Bitcoin selloff
Bitcoin (BTC) going nowhere since February, tested the April low today of $47,393, and held. We’ll see if that sticks. Stock chart below:
Bitcoin (BTC)(GXBT):
The Bitcoin selloff
Nasdaq 100 Index update
Nasdaq 100 Index continues to deteriorate.
Today, The Nasdaq 100 Index (NDX) sliced through last weeks’ low. .. looking next at last months’ low. Gold and gold miners continue to show bullish relative strength.
Nasdaq 100 Index:
Gold Miners Index vs. S&P 500 Index
Gold Miners outperform
The Gold Miners Index (GDM), ETF (GDX), which bottomed in March, has begun to outperform the S&P 500 Index (SPX). The S&P has been rallying along in excess of a 30% annualized rate of growth over a 200 day average.
In this post we’re using a real simple signal line – a 50 day relative strength moving average crossover. The gold miners index crossed above on the day of May 3rd. See stock chart below:
Gold Miners Index vs. S&P 500 Index
Nasdaq 100 Index | Trendanomics
Nasdaq 100 Index | Trendanomics The Nasdaq 100 Index (NDX) after topping in April, gaps down today, breaking support, and, is trading under the February high. Avoid. Stock chart below:
Technology Index | Trendanomics
Technology Index | Trendanomics The S&P Select Sector Technology Index (IXT) (XLK) ending the week breaking support at $1,413.
Gold Miners Index | Trendanomics
Gold Miners Index | Trendanomics The Gold Miners Index (GDM), after rallying 18%, March bottom to April top, has been selling down to approximately $960. There are many price reversals in this area. Further selling from here, breaking this support area, will indicate more selling.
Agriculture commodities gone wild | Trendanomics
The Agriculture Commodities Index ETF (DBA) is trading in excess of 50% annualized rate of growth over a 200 day moving average. Stock chart below:
Oil & Gas Exploration and Production stocks
Oil & Gas Exploration and Production Index (SISIOP), ETF (XOP) stocks breaking support levels today,..Avoid. Trend investing, trend trading indication is expect lower prices.
Bitcoin gaps down
Bitcoin (BTC) today gaps down 10%, but is holding short term support. $55,466 is support, then $50,387. Bitcoin is trading approximately 98% above the S&P 500 Index (SPX) over a 2000 day moving average.. stock chart below:
The Market Volatility Index
The Market Volatility Index (VIX) , a measure of the S&P 500 Index options put/call market, has significant resistance overhead at $19.92, and $24.81…as shown on the stock chart below:
