This Week Feels Good
July 19, 2020
I am excited about our Investor Class and Telegram Channel Open Trades and Trade Ideas. A large number of these are poised to break higher. We will see.
I recently began an Introduction to Trading and Investing Workshop that will provide you with the tools and confidence to take control of your investments.
I believe that this workshop will be of great benefit to both new traders and veteran investors. You can sign up on my website with this link: Trading and Investing Workshop.
Our free Telegram channel, Klarenbach Research, is growing in numbers, and the members are getting more comfortable with asking questions regarding traditional markets and Bitcoin.
We post the majority of our Trade Ideas in the Telegram Channel. Talk to someone who is in the Channel and ask them how the results have been.
Here is the link https://t.me/klarenbachresearch.
I hope you check it out.
We have had good luck with our Trade Ideas and the ideas posted on our Telegram channel.
I have included the Trade Results Summary.
The number of trades is becoming too lengthy for this publication.
Investor Class Ideas have proven difficult to identify with more success with Swing Trade Ideas and the Telegram channel.
The expectancy of the Telegram Channels is 3.9% for an 11-day hold.
Extrapolated out to a 30-day month, and the result is 10.6%.
Let’s see if we can improve on that.
MARKET REVIEW
**Click on any chart to enlarge**
S&P 500 Index (SPX)
Price looks poised to move higher.
The following idea appears less likely to occur with each passing week.
At this time, I still consider the B Wave from my March 26 tweet near completion and am waiting for confirmation of the C wave formation.
NASDAQ 100 INDEX (NDX)
NDX is consolidating beneath last week’s new highs.
Dow Jones Industrial Average (DJIA)
The DJIA is consolidating above the 200 DMA and appears poised to move higher.
ISHARES TRUST RUSSELL 2000 ETF (IWM)
The Russell 2000 has been a laggard. However, it is backtesting the 200 DMA and looks bullish to me. We will see if this channel, as I have drawn, is of significance.
TSX Composite Index (TSX)
Price is above the 200 DMA, closed the gap, and also appears ready to move higher.
S&P 500 Volatility Index (VIX)
The VIX is below the 200 DMA and appears as if it has further to drop. This likely means higher prices in the S&P 500.
West Texas Oil (WTIC)
WTI is consolidating just under the 200 DMA. Will the 200 DMA continue to act as resistance.
GOLD Spot (XAUUSD)
Gold broke out and is consolidating at the new highs. Our gold positions in the Telegram channel are looking pretty fine.
US Dollar / Canadian Dollar (USDCAD)
USDCAD is consolidating above the 200 DMA after the fourth test. Check out the green 50 DMA as it approached the 200 DMA. Our green target below is still on the table.
US Dollar Currency Index (DXY)
The USD continues to look weak against this basket of currencies. Price broke below the 200 Week MA. This chart is bearish.
BITCOIN (BTC)
BTC has been unable to stay above the trendline, which is also the Hyperwave Phase 7 line. The price is currently below the 50 DMA.
WHEAT FUTURES (ZW1!)
Price continues the anticipated big bounce off of the confluence of the trendline and the 200-Week MA.
SOYBEAN FUTURES (ZS1!)
I like this Soybean chart and anticipating higher prices.
TLT vs SPY
(ISHARES 20+ YEAR TREASURY BOND ETF vs SPDR S&P 500 ETF TRUST
The TLT/SPy ratio is stuck between above the advancing 200 DMA and below the declining 50 DMA. I am anticipating a big move; I am just unsure of the direction.
You won’t find this in any TA books; however, this is sideways f*&$%^ery.
FACEBOOK (FB: NASDAQ)
FB is consolidating above the 20 DMA. We entered a long position this last week in the Telegram Channel. The green and red lines depict our entry and stop positions.
AMAZON (AMZN: NASDAQ)
AMZN has pulled back into the 20 DMA.
APPLE (AAPL: NASDAQ)
Last week APPL made a new ATH.
NETFLIX (NFLX: NASDAQ)
Netflix is cooling off after setting new ATH and testing the 20 DMA.
ALPHABET (GOOG: NASDAQ)
Last week saw a new ATH in GOOD.
INVESTOR CLASS IDEAS
The Investor Class opportunities remain pretty thin as I don’t have many meeting my Investor Class Criteria for this week.
I will post in the Telegram Channel as Trade Ideas develop and identified during the week.
Here is the link: https://t.me/klarenbachresearch
REMEMBER, CASH IS A POSITION
Don’t FOMO into a position. Have a plan.
YAMANA GOLD (AUY: NYSE)
AUY is up 4.3% to date. The green and red lines depict our Telegram long position entry and stop levels.
I like this chart, and it looks like it is about to breakout higher. We are above the critical MAs and the VWAP from the recent high.
I consider this a buying opportunity, and I may add to my position.
From three weeks ago:
AUY looks like it is breaking out above this bullish flag pattern and is above the advancing moving averages.
I am interested in an Investor Class or Position trade above Friday’s high of 5.34 with a stop below 4.66.
VANECK VECTORS JUNIOR GOLD MINERS RTF (GDXJ: NYSE)
GDXJ is up 15.3% to date and poised to move higher.
From three weeks ago:
GDXJ is above the advancing Moving Averages and looks like it is breaking out of the bullish pennant.
I am interested above Friday’s high of 47.54 with a stop below 41.93.
SWITCH INC (SWCH: NASDAQ)
Last week’s idea, SWCH did not trigger for us. I am still interested; however, the price is below the 50 DMA.
I am a buyer above 19.00, with an initial stop below 16.78.
SLACK (WORK: NASDAQ)
SLACK triggered; however, it is down 6.3% to date and needs to get back above the 50 DMA.
CGEN (COMPUGEN: NASDAQ)
Nice consolidation above the rising 50 DMA. I am interested in a long position above 16.01, with a stop below 13.81. DYOD on the earnings date. My quick look indicated July 30th.
NUAN (NUAN : NASDAQ)
Nice consolidation above the 50 DMA. I like this one above 25.63, with a stop below 24.08.
SWING TRADE IDEAS
Swing trade ideas get posted when identified in the Klarenbach Research Telegram Channel.
We have been active in the Telegram Channel, and the results have been impressive.
Here is the link: https://t.me/klarenbachresearch
That is all for now!
Drop me a line with any questions or comments. You can do that here.
I am actively posting charts and ideas on social media.
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Twitter: @trentklarenbach
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Life is Good