Trend Trading: Crypto mining stocks

This post analyses three Nasdaq listed Crypto mining stocks. Each stock is compared, on a relative strength basis, to the S&P 500 Index (SPX), and, to The Bitcoin Trade Price Index (GXBT), over a 200 day moving average.

The S&P 500 Index (SPX), over a 200 day moving average, is trading in excess of a 30% annualized growth rate. The Bitcoin Trade Price Index (GXBT), over a 200 day moving average, is trading well in excess of a 500% annualized growth rate.

The three Nasdaq listed Crypto mining stocks, are:

  • Riot Blockchain Inc. (RIOT)
  • Canaan Inc. (CAN)
  • Marathon Digital Holdings (MARA)

Here are the numbers:

Item% above S&P 500% above Bitcoin
Riot Blockchain Inc. (RIOT)390153
Canaan Inc. (CAN)556184
Marathon Digital Holdings (MARA)326128
Crypto mining stocks

Comments welcome.

Trend Trading: Commodities Index ETF

The DB Commodities Index Tracking ETF (DBC), Long and Bullish, today is doing another in a long term series of breakouts. $17.23 is the breakout point, which is the February High. The ETF is trading 15.5% above the S&P 500 Index (SPX), over a 200 day moving average. The ETF is trading in excess of an 80% annualized rate of growth over a 200 day moving average. The component crude oil contract is juicing the commodity index.

The DB Commodities Index Tracking ETF (DBC):

Commodity ETF (DBC)

Trend Trading: The Nasdaq 100 Index slicing and dicing

The Nasdaq 100 Index (NDX), Long or Bullish, but continues to deteriorate – the short and long term MACDs continue negative. Again, today, we can see that the index is trading under the former support and now resistance of the February low of $12,760.

Nasdaq 100 Index (NDX):

Nasdaq 100 Index (NDX)

Trend Trading: update on The Nasdaq 100 Index

The Nasdaq 100 Index (NDX), Long or Bullish, but deteriorating quickly – the short and long term MACDs turned negative a few days ago. Today, we can see that the index is trading under the February low of $12,760.

So the sector and industry shift is out of technology stocks and into stocks such as energy, and industrial metals, such as Freeport McMoran (FCX) as noted in a previous post.

Nasdaq 100 Index (NDX):

Nasdaq 100 Index (NDX)

Trend Trading: SPDR S&P Oil and Gas Exploration & Production ETF

SPDR S&P Oil and Gas Exploration & Production ETF (XOP) is trading, over a 200 day moving average, approximately 38% above The S&P 500 Index (SPX). And The XOP is trading well in excess of a 100% annualized rate of growth, over a 200 day moving average.

Comments welcome. Need the charts?

Trend Trading: Semiconductor Index ETF

The Philadelphia Semiconductor Index ETF (SOXX) is Bullish, although losing momentum on the MACD – both long and short term. The ETF is trading approximately 17% above the S&P 500 Index over a 200 day moving average. So after this pullback, or dip, we’ll look for the MACDs to go Positive. The next Break out is resistance at the all time high at $444.00.

The breakout area is shown on the stock chart below:

Semiconductor Index ETF (SOXX)

Trend Trading: SPDR Gold ETF

The SPDR Gold ETF (GLD) continues on it’s Bear market (short term, medium term, long term). Today The ETF plunges through, yet another long term support area at $166.00. The long term pattern of Lower Highs and Lower Lows is almost text book.

SPDR Gold ETF (GLD)

SPDR Gold ETF (GLD)

Comments welcome.

Trend Trading: Gold Miners Index ETF

The Gold Miners Index ETF (GDX) continues on it’s Bear market (short term, medium term, long term). Today The ETF plunges through, yet another long term support area at $31.22. The long term pattern of Lower Highs and Lower Lows is almost text book.

Gold Miners ETF (GDX)

Gold Miners Index ETF (GDX)

Comments welcome.

Trend Trading: Freeport McMoran

Freeport McMoran is the number one stock in the S&P 500 Index

Looking at a 200 day relative strength moving average of Freeport McMoran (FCX) vs. The S&P 500 Index (SPX), it is trading 90% above. The number 2 ranked stock is Discovery Inc. (DISCA) at 75% above. Tesla (TSLA) ranks number 10, at 49% above the 200 day relative to The S&P,  and is strongly deteriorating.

Freeport McMoran (FCX).

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Discovery Inc. (DISCA)

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Tesla (TSLA)

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Comments welcome.

Trend Trading: lumber commodity, lumber companies

Lumber is at all time highs

…and Boise Cascade (BCC)  appears to be topped out on the weekly chart, with resistance at $53.36. The High for the month of January was $53.32. This is a similar concept with all the commodities related stocks. Freeport McMoran (FCX), a copper miner, is at all time highs and so is the copper commodity.

Comments welcome.

Boise Cascade (BCC) weekly

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Freeport McMoran (FCX) weekly

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