“Dow Twenty-MF-Thousand May Be the Top” – The Closing Prints – Weekly

Let’s put this all out on the table here. I am a Bear, obviously, as you see in my Stocktwits and Twitter handles. I have been Bearish since December 8th at 2246. I am heavily short the Nasdaq with an average price around 5130. I have screen shotted that so go find it.

This is the first bit of Euphoria we have seen in 3-4 years, since 2013 anyways. So it is safe to safe I was a little early.

My 2017 outlook has been clear. I am looking to sell the dollar by BUYING Pesos, Euros, and Metals. I have rolled my 401k into international stocks and emerging markets and that is likely for the next 6-8 months, at least. I am not even going to go over some of these charts I like here because they are in my feed. They consist of EWW, EWZ, EWM, EWT, EWY and others. 

So Let’s dive into the closing prints.

 

SPY

I am not going to lie. This is a face ripper. Ever since the election (mind you I was bullish pre-election) this has been straight up. Flip this chart upside down and what are you trying to do?? I am looking to sell this (obviously I am short the Nasdaq as stated above) and likely the downturn will start next week. I thought it was this week but retail and mom and pops have to buy the #Dow20K bro. 220 test is a given, 200-205 test is likely.

Screen Shot 2017-01-27 at 4.09.07 PM.png

DJIA

This says to me says “I am reversing and engulfing this weeks candle. It’s a trap. Are you paling this Dow 22K measured move bull flag? Lolz IMO. 19K at least is a given and 18,500 test is very likely. the fact that we have had this euphoric blowout really concerns me but will assess this when the time comes.

screen-shot-2017-01-27-at-4-52-32-pm

IWM

Small Caps led on the way up, and did not make a new high. They are the leaders. Small Caps lead the breakouts, Silver leads gold, its just one of those things. I see this testing 128 as stated before soon.

screen-shot-2017-01-27-at-4-57-45-pm

DXY

The Dollar. I am more of a Forex guy anyways. I trade the Yen, Euro, Pound, Peso, Metals, Oil, etc. At 103 people thought I was clueless. Go back in my blog. There were numerous reason why I believed the dollar was not going to continue higher and was going to put in a false breakout. 1 was emerging markets. 2 was the euro. There were others as well. Is this going to bounce? I hope it does to 101.50-102ish and I am loading the boat Long Euros and Metals.

screen-shot-2017-01-27-at-4-54-07-pm

GLD

As said above. I will be looking to buy any and all pullbacks here. This SHOULD NOT drop 1160. If it does then I am wrong.

screen-shot-2017-01-27-at-4-55-12-pm

SLV

Silver leads, and the bears better hope it doesn’t close over 17.50…Oh MY. VERY BULLISH. Generational Bottom forming IMO. Just buy it.

screen-shot-2017-01-27-at-4-56-50-pm

DBA

Reiterating the Ags here like I did yesterday in my blog post. Buy this pullback.

screen-shot-2017-01-27-at-4-56-08-pm

EEM

My friend. We have been together all year ;). This may need a break but the 38-40 test is a given. If the dollar slices down this may go straight to 44. Emerging Markets are where you want to be in 2017

Screen Shot 2017-01-27 at 4.05.46 PM.png

EURUSD

My other best friend. Yeah the move up probably got some of the longs out looking for a bounce. Little do they know they are about to miss the boat on the generational bottom of the Euro. If you want to take a vacation, go to Europe this year. May be the cheapest time to go in the next 20 years. (Disclaimer: I am going to Mexico this year and I am on board with my wife 100% because I think the Peso bottomed lol)

screen-shot-2017-01-27-at-4-54-36-pm

See ya next week.

 

 

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One response to ““Dow Twenty-MF-Thousand May Be the Top” – The Closing Prints – Weekly

  1. Pingback: SPY Levels and Thoughts | The Big Breakout·

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