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Memories of Charts Past

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

Salutations again from the concrete-cloistered depths of the Stanford Shopping Center parking garage. I’m kind of touched that so many people have emailed me, wondering about these kooky habits. Don’t worry, the wife hasn’t thrown me out, and I’m not homeless. I’m simply killing two proverbial birds with a single stone, charging my car and looking at charts for you good people. Three stones, actually, since a subset of my dog retinue gets to come out with me.

Liquidity moves markets!

Follow the money. Find the profits! 

As I am typing this, the ES, RTY, and NQ are all bright green, and I’m not concerned. I’m more excited about the market than I’ve been in many months. Below I’ve got 14 ETF charts, with a few words about each in the caption area. The first 7 are free to all, and the second 7 are for my awesome paid members (all levels, from Bronze on up).

Commodities – -doomed and doomed can be!
Observe the similar nature between the domed top from early this year and the pattern we’ve just completed
A similar “echo” can be seen here with the emerging markets
The MSCI Europe is sporting an analogous pattern at an even lower level (which I interpret as weakness)
Precious metals miners have not been immune to asset weakness, and I expect lower prices from here (I bought puts early on Thursday)
Similarly, gold could be on track for $1800/ounce
This chart shows more data than the ones preceding it, with the third major reversal on small caps well underway

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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