Uranium Sector
Here is a post on the Uranium sector from yesterday which, according to Weinstein, is in a Stage 4 Bear Market. I also did a deep dive into this sector on my site last night on the likelihood that it may be in the process of transitioning into Stage 1 Basing which precedes a Bull Market breakout. Within my Cycles methodology framework, Longer Cycles almost always dominate Shorter Cycles so understanding where you are in the Longer Cycle, helps you spot early tops if the sector is in a Bear market.
#uranium is in a Bear Market in my book. Cameco (CCJ) is my proxy to track the sector. My 16+ year Weekly shows how the 66wema & 200wma have capped all major rallies since its Bull Market top in 2007. Note the "price channel" or Fork down from the top. Classic Bear price action. pic.twitter.com/p6rr8mjJAI
— Surf City (@SurfCity_Cycles) October 29, 2020