The Closing Prints – Monthly Edition

What a MONTH! Absolutely ridiculous 3-5 Year moves were made during this month all the way up to the very end.

The Closing Prints is Something that I do at the end of Every Week and/or Months to analyze what the charts are hinting at going forward. Below are the November Closes of Monthly Charts of certain assets.


The Dollar

First Up is the Dollar. This in the long run is not good for big cap companies because big companies sell lots of goods in foreign countries and it is more expensive for them. This is good for small cap companies as much of that growth is in America. This looks like a Big Ass Bull Flag that has broken up. If this does not reverse and reverse NOW then the STRONG DOLLAR, STRONG AMERICA theme is going to MAKE the AMERICAN CONSUMER GREAT AGAIN.

dxy-month

OIL

What a Day to end the Month! This is the second best looking chart for a longer play in my opinion. This is a bullish outside reversal Month on a BIG TIME STATEMENT day. When an asset prints a candle like oil did today, You Respect It. This bottoming formation is targeting 63+ IMHO. I even added it to my 2017 Predictions. 

oil-month

SPY

The S&P looks almost as good as the small caps. This is textbook out of the Charting Handbook (A 2 year consolidation with a breakout and check back to the breakout point. Then an outside reversal bullish engulfing monthly candlestick.) It doesn’t get much cleaner than this. Targeting 250+ and all pullbacks should be bought. 

spy-month

BONDS

The TLT is CRASHING. After calling the top at the uptrend line at 143 I have been bearish down to 120. This should bounce here. It HAS to bounce here OR something is seriously wrong and it will crash to 110. 

tlt-month

The Euro

The Euro Looks gross. This looks like a 2 year bear flag about to break down under 1.000 I don’t think this happens but I have been wrong on this Dollar move so far. I am looking for a failed break below this 1.04 level and rip back up. The Euro not breaking down completely is promising for now, but this needs to reverse.

eur-month

GOLD

The chart is gross. Everyone went long gold when Trump won overnight and got annihilated over the course of the Month. Ironically, as sickening as this chart looks, it has pulled back to some support and retracement around 1170. If this does not take back 1200 quick (that is the first step) then this will be headed back towards Triple Digits. I was COMPLETELY expecting a pause above the 1350 area where the long term downtrend line is, however I was not expecting this to pull back and essentially crash from those highs this fast. A lot of Damage has been done on the weekly and daily charts.

gold-month

SMALL CAPS

The IWM is the best in the breed. This is a Bullish Reversal Outside month out of a 2 year base. Target 150+ and all pullbacks should be bought. Enough Said.

iwm-month

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s