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Crude/Energy extending, Financials still weak- Silver on the rise- LINK to this week's Webinar, today's video, and CMT presentation on time

Friday technical Video

https://www.youtube.com/watch?v=a_TdsPC3Il4&feature=youtu.be

 

Link to my presentation on “TIME in TECHNICAL ANALYSIS”  -  1 hour in length-  Given to CMT Association on Wednesday  9/26

https://cmtassociation.org/video/the-use-of-time-in-technical-analysis-demark-fibonacci-gann/

 

 Thursday Technical Webinar- 20 min-  Yesterday -  Discussion on S&P, TNX, DXY, XLF, XLI, XLK

https://www.youtube.com/watch?v=j9Qb4M6pMNc&feature=youtu.be-   

 

NEW TECHNICAL LONG IDEAS:   TSS, GOLF, CWT, SKYY, COLM, EXPO, WRB, ICLR, OGS, DNR

NEW TECHNICAL SHORT IDEAS:  AAL, JBLU, ALK, VMC, PCAR, FB (down to 155) , MCO,

 

Key points heading into the weekend-  

-Europe rolling over given Italian election results.. and SX5E falling to new 5-day lows

-Dollar moving higher for 2nd straight day into resistance.. and should be an area to buy EURUSD, GBPUSD and also buy some EEM, Materials.. as its thought that the Dollar should be on the cusp of turning back lower

-Silver has taken the lead in making a good breakout.. and Gold might be finally soon to follow- Key will be Yields stalling out along with DXY. But unusual for Silver to take the lead and strengthen materially ahead of Gold

-CRUDE extending higher again.   And CL being over 73.25 should allow for continued gains to 75-76 at a minimum.   Right to be long Energy and overweight

-Healthcare outperformed all other sectors for the month of September and continues to strengthen relatively.  Now tops on a 1 month and 3 month basis

 

S&P-  No man’s land-  Above 2930 positive.. any failure this afternoon and movement back UNDER 2918 is negative and particularly under 2907

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NYFANG -  FANG basket.. which does include TSLA.  Has reached key area after this week’s bounce.

Expect the start of some turn back lower and FB, TSLA  weakness could spread to others .  

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Energy continuing to shine, and with CRUDE pushing up above 73.25.. this sector should be overweighted for a further push higher

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Key area for the Dollar-   Expect this likely stalls and turns lower

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SILVER-  Very good move out of Silver today..  and with yields having stalled and Dollar up to good resistance

Silver taking the lead might help Gold also begin to strengthen-  I like being long on today’s move. But important to keep an eye on precious metals

If Dollar starts to weaken.. this group should begin to finally work.. both stocks and commodities

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