S&P 500 SPY IWM QQQ XLF VIX Gold Silver Miners Technical Analysis Chart 8/12/2019 by ChartGuys.com

17 Comments

  1. Thank you for the videos. Do you still have a gold miners position? Looks like a good time to sell before weekly consolidation right..

  2. You have mentioned you playing options (ex when you started livestream at market open)

    How did you play options back then vs now if at all. Maybe a video idea idk.

    Either way you're the man Dan! Also enjoy your partner Jason doing vids now. All the best to you and the ChartGuys.

  3. Cheering news)Those who use MEW (Myetherwallet) wallet now can receive 30% of the dividends on eth-usdt .com

  4. Do you think it's also possible maybe the miners weren't following the spy but rather high flyer investors could have shorted miners last week. Then this week gold kept running up, so they liquidated portions of their long positions with profit already, to still be able to close shorts and require those shares also with a gain?

  5. Dan, I don't think gold is following normal technicals at this point, it is more event-driven now, like earnings affecting a stock. The US-China trade tensions, the indicators pointing to looming recession in most major economies, the increasing political tensions between Iran and the west, revolt in Hong Kong, etc. Most importantly, the ever-increasing realization that the next financial 'crisis' will not be a banking crisis like 2008-2009, but a sovereign debt crisis means that there's only two options for huge debtor first-world nations like the US: default or inflation of the currency. Since default would be by far the more calamitous of the two, significant inflation looks like the default option, and that means a major devaluation of most major currencies, especially the US dollar relative to gold. Bulls are buying gold on every dip, and the inevitability of huge inflation coming right at us is why.

  6. thankfully i set up some credit spreads so the choppy action will probably give me some theta profits tomorrow

  7. More likely for the market to go down further tomorrow. At least another 4-5. All the indicators are suggesting further downside tomorrow.

  8. "It's Sunday morning and that is the sound of the herd sleeping" XD priceless! I too am playing the gold miners bearish. What I remember is how they broke out of their daily EQ before gold actually did so they are more overdue for correction. GDX has daily and 4hr bearish divergence on RSI and the weekly RSI is the highest that it has ever been in 13 years. Gold itself has the 3rd highest weekly RSI ever, except the other 2 times prior to this it was in blue sky breakout and now that is not the case here. I am looking for daily consolidation into possibly weekly. Taking it a day at a time, but certainly the risk to reward favors the bears here short term

Comments are closed.