Weekly Roundup to June 19th, 2020

The weekly Round up, is there anything more exciting…ok, the odd thing.

It is that time of the week when we look at all the charts whether anything happened or not.

Let’s start with Big Daddy, the S&P 500.

S&P 500: UP = SSO, DOWN = SDS

SSO

We are looking at SSO because it has been the best candidate for moving up. (Versus SDS).

We were in this symbol until recently when we were stopped out by a close across the trend line.

At this moment, following our process, pay attention, I won’t repeat it all through the other symbols. The blue EMA (exponential moving average) 21, is above the green EMA (55). This is an uptrend in our world of trades. The price crossed above the 8 EMA (red), but did not close there, so we have no trade at this moment. When a close takes place, we will look at resistance levels and decide whether we can place a trade right away or whether we need to wait for a close above resistance.

Gold: UP = UGL, DOWN = GLL

GLL

GLL is our only open trade at this moment. As you can see it is declining. The trailing stop anchored at $36.93. Just a few more pennies and we are out of this trade. Which means we would look at the inverse, UGL for a buy signal.

Oil: UCO = UP, SCO = DOWN

UCO

As you all know, Oil had a catastrophic fall which helped us massively, but now it seems to be consolidating. We are only concerned when our process gives us permission to buy. You can see that the blue EMA is still below the green EMA which would normally having us sniffing our noses at this symbol. The thing is that the ROC is above the 0 line which would normally be the get going sign. The only impediment is a resistance zone. We need a close above the upper horizonal line to enter a stop – buy. Until we see that, we sit on our hands and remain patient.

20 Year Treasuries: UP = UBT, DOWN = TBT

UBT

There is triangle pattern trying to complete on this chart. We are not trading patterns in this exercise, so we shall leave it alone. Of course it is available in my book – link at the end.

We have a gathering of the moving averages, but nothing we can hang our hats on.

Dollar Index: UP = UUP, DOWN = UDN

UDN

This chart, this symbol is showing the fight between the US dollar and a weighted basket of global currencies. At the moment, we have an uptrend, blue is above green, but he price has fallen below the red. The price and/or the red are our triggers once we have a set up. We were stopped out after mysterious price movement at position 1, so we really must insist on a close above resistance.

The link for you to learn about triangles is:

https://abeginnersguidetotradingandinvesting.gr8.com/offer_page.html

That covers it. If you have any questions or concerns, please drop me a line at: Charlesgoddard2020@gmail.com.

TTFN,

Charles

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