Looking at the Daily, a Bullish S/R (Support and Resistance Price Level) is found just overhead at $7,161. A close above this week will give us a clue as to the direction the market wants to go.
A Daily S/R Level in the Bearish side is found at $7,085. We’re looking for direction. The market will tell us if we let it.
Pure Trend following. No news, no White House Tweets, no forecasts or predictions.
Gold $GC $GLD at $1,299 closed the week under a Weekly Bearish Reversal of $1,305. #gold #trendfollowing #investing
and the Weekly Bullish S/R Price level at $1,366 remains a challenge.
$SPX $SPY going into the close, trading over last weeks High of $2,794. #SP500 #stocks #investing #trendfollowing
$GDM $GDX trading under Bearish Reversal today, so far. We’ll how it closes for the week. S/R Price Level is $612.60. #goldminers #goldmining #stocks #gold
$GC $GLD Using the 5% Fixed Rate of Return (annualized) over 200 days versus the price, Gold is trading 3.5% above trend.
Using the 5% Fixed Rate of Return (annualized) over 200 days versus the price, the S&P 500 Index is trading 0.5% below trend.
Using the 5% Fixed Rate of Return (annualized) over 200 days versus the price, The Nasdaq 100 Index is trading 1.4% below trend.