Loading ...Chart Support
On the GDXJ the next support appears to be the March 2020 low of $20, the same low from early 2016. On the Semiconductors the SMH has support at 100… Good Grief! I remember the 1974 bear market where I read in the WSJ stories about how the 70% collapse changed so many lives. People’s savings wiped out. Things really do repeat on a regular basis.
I think history will record that the cryptos popped the bubble not Evergrand.
Careful now… don’t want to start any wars here
I recently mentioned CMCL and how it might outperform the GDXJ index. It has, but if the EveryThing Bubble has popped then nothing is safe. Even my fertilizer stock MOS is following the market down.
Anyone remember 2008/09 when you could not short? The exchanges have closed before, during WWII after 911 and they could do that again. I worry about waking up and not being able to log in to my accounts. For my safety of course…
I’ll bet very few if any know why the stock market bottomed in Mar 2009. Anyone?? The Financial Accounting Standards Board FASB changed how banks could value assets on their books from marked to market to marked to book, or what they paid for their worthless assets and in an instant the banks were recapitalized.
and the SPX bottomed at 666… just a coincidence????? Maybe a sign
I do remember. But not the rule number anymore. Like FSB 47 or what not.
FAS 157, for the record.
I could not remember. Lot’s of cobwebs!
No I remember it clearly, that was the bottom
My work for GDXJ is that the worst case scenario is it targets 30. But the rest of the stock market is in full on crash mode and entering a bear market IMO like as you said 1973-74… but worse
There is an old saying that margin clerks are more powerful than central bankers…
LOL. I’m going to have to use that one.
Thanks for the commentary.
URNM down 25% or so in three sessions.
I have possible support at 50, down another third or so. Could take awhile.
The bottom of the expanding downward wedge on the GDXJ is $17.00 Yikes!
it’s not going that low IMHO
I am going to dissent on your GDXJ $20 call for support.
I have it up around $25, which is where the lower 3sd monthly bollies show up.
Last two times price tagged it, price found a bottom. (mid 2018, and at covid low)
This is a near term view … I also have oversold conditions at monthly degree, but these are just preconditions for a bottom, not reversal signals.
Absolutely. The daily sentiment index for silver/gold is at 10. It should produce a monster rally. Nope.
Day one for the SPX outside the BB
give 2-3 days to 3sd