Biotech in Up-thrust


It’s an interesting picture.  A price pattern that’s potentially as old as the market itself (spring to up-thrust); a measured move that is in near perfect symmetry.


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Nat-gas up.  Nat-gas down. 

Which is it?


Gas is higher on lower inventory build … but wait, just a few hours later, it’s lower on forecasts for ‘moderate’ temperatures.


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Before the open


Junior Mining ETF (GDXJ):  Headed Lower


If the chart of GDXJ has been read correctly and the pre-market action continues lower, GDXJ is poised for the downside. 


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Biotech:  The Canary?




Is Biotech (IBB) the canary in the coal mine?


The weekly chart gallery from Friday’s (10/25) pre-market update shows a potential series of price action contact points that imply we’re at a pivot.


The close for IBB on Friday ended lower from the prior session; possibly hinting, the down-move has started.


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Real Estate:  IYR Projects to 96.  Then, what?


IYR has a short way to go for the projected target.  What happens after that?  Inverse funds for the sector to work the downside (short term) are SRS and DRV.


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SOXX Reversal?


9:23 a.m. EST


The semiconductor ETF appears to be in early stages of reversal.


Note the terminating wedge that has formed over the past six months.  Within the last few days we have a nascent up-thrust.


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BTU:  Out of the fire?


It’s been rough going for BTU.  That may be ending.


The measured target out of the wedge has been met.  One more push lower to 13.89, looks to have reversed.


From top-to-bottom, It’s a 71% decline.  The speculative excesses have likely been washed out.


BTU has also encountered negative news events.  The last one, announced inability to restructure debt on favorable terms; driving the stock price even lower.


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Grand Solar Minimum


What is it?  Market effects


The near three-hour presentation at this link shows we may be in times similar to that of Genesis 41


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Bond Reversal:  Interest rates higher  


Extended market with rates moving up … not good.


The chart of the bond proxy TLT, shows the familiar pattern:  Spring-to-Up thrust.  It also shows where the ‘commercials’, the professionals entered a record long (futures) position.


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CORN:  Proxy for Panic


The corn futures report at this link, shows current progress is lagging behind last year.  At this point, 11% of the crop is mature vs. 24%, on average.  That’s down over 54% from last year.


In addition, Ice Age Farmer just released this report, indicating northern growing areas no longer have enough (and won’t get enough) ‘heat’ to mature the crops … it’s going to be a huge loss.


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