I would not be buying commodities here. With elevated selling volumes, rapid falls, bearish CRB Index chart, and overall macro position, it does not bode well. The overall macro. Gary Glover cautions for buying miners although adds gold shares to his watchlist.
Gary Glover of Novus Capital reviews the charts, cycles, duration, and magnitude of the rallies to shape trading behavior in this current cycle. Also timing when to buy these stocks and where to sell where Gary Glover applies his knowledge. This week Glover is looking at the stocks with strong base formations and potential for large rewards and tight risk trading setups.
Glover explores new trading shares and their charts to review the current market position, indicators, and momentum for the trades he's placing this week. While looking at the trading shares to monitor in this phase of the market and understanding the technical aspects of the US and AU indices. Glover looks at the leading market indices and shares for trading this week.
Gary Glover is an experienced market professional with two decades of swing trading and technical analysis advisory services. Glover is well known for his insights on the ASX 200, S&P500, NASDAQ, and Dow Jones insights using Wyckoff Theory, Mark Minervini trading strategies, and Volatility Contraction Patterns to help clients decide what the best stocks to buy now are. Some of his favourite trading strategies are false breaks and springs from the Wyckoff Trading method of swing trading strategies.
Chapters:
Start 0:00
When it looks that ugly it can bounce - but the macro looks bad 0:26
NASDAQ selling of the highs is aggressive 1:22
SP 500 selling down hard and fast 1:55
Aggressive sell-off looks like a new low 4:01
ASX 200 impulsive move down 4:15
Let Price Action and Volume Dictate what's occurring 5:54
Plenty of reasons the market can sell off here 7:57
Commodities and Business Cycle events 9:02
USD on a Tear, The Pound is falling fast 10:29
Macro Picture is not so pretty here 10:54
BHP ASX 3 Wave pullback 11:27
FMG Fortescue FMG ASX elevates selling volumes 14:42
Do not rush in and buy commodities here 16:14
I would be standing back here from resources 18:12
Silver Lake Resources SLR ASX - False Break from a laggard? 19:19
Finer Market Points connects leading market themes with the best-performing companies for better trading. Finer Market Points is presented by Christopher Hall with Shares In Play looking at the best performing growth shares and ASX small caps riding the tailwind of the industry themes leading the market higher. The Hot stocks to trade now range from ASX 200 blue chips to small tech stocks and mining stocks with the strongest performances.
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Our playlist on technical analysis of US and AU share markets is here:
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VCP Tutorial - Volatility Contraction Pattern:
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Trading Small-Cap Miners - the High and Tight Flag tutorial is here:
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Trading Pocket Pivots from Gil Morales and Chris Kacher's extension of William O'Neil and his CAN SLIM trading methods used by Investors Business Daily:
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General Advice Warning:
The advice in this newsletter is of a general nature only and has been prepared without taking into account any of the objectives, financial situation or needs of any person. Before making an investment decision on the basis of any advice in this document, you need to consider, with or without the assistance of a financial adviser, whether the advice is appropriate in light of your particular objectives, financial situation, and needs. Presenters may have commercial interests in the investments discussed.
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