Loading ...What I’m Seeing in JDST and GDXJ
My current assessment in a few charts……
JDST may be bouncing off 20ema on the daily in the new uptrend:
http://schrts.co/FzcaZo
JDST may be backtesting the breakout on the 30-minute chart for a 2nd time. Not unusual before a trending move up:
http://schrts.co/hyklME
GDXJ may be making a bearish backtest on the broken channel:
http://schrts.co/TUnMMp
Eyeing the back test too on DUST 60 per your JDST equivalent…
Also NUGT hitting downtrend line.
http://schrts.co/hbvSw2
Just last night I was going to say that the standard TSI on JDST daily has finally turned up and what a bullish sign that was. I think for this leg of the plunge I’m going to start doing the buy support and sell resistance thing. There seems to be a natural ebb and flow in this market that makes any trend an on/off thing. I think a channel type trading method along with support and resistance levels is a good way to trade it.
A bit off topic but anyone who likes the S&P short ETFs, this is a gorgeous setup:
http://schrts.co/7Nm07q
DUST chart is a pretty one…..trading up and down. Just wish I had executed a little better.
http://schrts.co/t4jI0u
http://stockcharts.com/h-sc/ui?s=DUST&p=60&yr=0&mn=1&dy=15&id=p20910604389&listNum=1&a=388664339
What was resistance is now support…watching stoch and MACD to turn up about now…correlates with Mark’s chart too…
We have a 13/34 cross on 2…watching 5 min for confirmation…
http://stockcharts.com/h-sc/ui?s=UVXY&p=30&yr=0&mn=1&dy=0&id=p96237133370&a=421174637&listNum=1
UVXY warming up…
i just went short the s and p..
http://charts.dacharts.net/2015-08-27/d1748.png
gdxj… head and shoulder possibility still there..
I went long UVXY
been a good S&P short trade….my guess is S&P closes at 1942….just a WAG!
Trading UVXY and DUST today…God help me!
I seriously feel like Ive been through hell and back trading today and lived to tell about it! The long term picture is looking really nice here and consistent with all of the themes we routinely share on this board.
Came within a whisker of getting stopped out in DUST but bounced up nicely so far.
well that wasn’t a fun ending — I thought short recoveries were on the way — went to the store and bammm!!!!
oops lol
That was a crazy final 15 minutes. Talk about shaking the tree! All we can do at this point is see what tomorrow brings. Interestingly however, prices in my 3 charts in the original posting are where they need to be to support further short sided moves up. The markets clearly want as few participants as possible! Same with the S&P.
I’m thinking that this is the sort of volatility in The Plunge that we might have to get used to. Cash out at every new resistance level and worry less about missing out on what’s coming next, and just concern yourself with holding onto what gains you’ve already made. The volatility of the stock market in general right now must be multiplying the usual amount of craziness in the PM stocks. I mean, it wasn’t really a volatile day for bullion prices, so it must have been the stock market stirring things up. Of course, it was a pretty crazy day for oil, too. UWTI had bigger gains than NUGT: 27%. And all it did was gain 21 cents.