Gold (GLD)

Good night folks!

Let me show you how GLD is trying again to start a new uptrend.
First of all, the daily chart:

 

This isn't the greatest daily chart on Earth. However, today's candle was a very bullish one, triggering my trend follower into a new buy signal. Let's not get too excited here, because last 29 Jan and 1 Feb candles' pattern is very similar to today's and yesterday's candles. There was too a (fake) buy signal by that time!

Today the price ended just below the 20 day MA and it will have to do a lot more than that in order to start a new uptrend. 

Now, the weekly chart:

I should only show you the weekly chart tomorrow, but let me do some futurism here. The way I see it, the weekly chart is showing will to turn the trend to the upside. This is true because the stochastic oscillator is trying to end the week in a buy and this is a very trustable signal. On the other hand,  this week's price is somehow looking like a bullish engulfing bar...let's wait for tomorrow's close in order to check those indicators again.

Trade safely,

JAPO.

New signals

Hello people.

Llet me show you today's BUY signal on the Indian MSCI ETF (INR). This is one of my favourite
ETFs, because several Ellioticians claim that India is starting a major bull market.

Besides the follower buy signal, I think this one is confirmed by the stochastic oscillator and the
MACD divergence reversal bars as well. The RSI also rose today, so no negatice divergence here.
The only problem may be the volume decrease (negative divergence with volume). The weekly
model is still in a sell; however, the current bar isn't very far away from my trend follower, so this week
a weekly buy may also be seen. That would provide a nice and reliable long call.

Besides the INR, my screener also found that the GLD ETF (gold tracker) issued a buy call in today's close:

Maybe a short term bottom has been found in gold. Let's wait and see.
This week's close will be very important for it.

Silver's leveraged reverse ETF ZSL ended today also on a sell from my follower.

My screener is only being applied to my personal stock list. If you want
to know the state of my trend follower to any other equity, don't hesitate
and ask me.


Trade safely.