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Television will, the stock index, Futures are started trading on
Television will, the stock index, Futures are started trading on Sunday night, and so far, they're pretty quiet
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So, that tells us there has not been any major
So, that tells us there has not been any major news stories over the weekend to disturb the market
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Now, if you were with us last week, at this
Now, if you were with us last week, at this time, things were looking up
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And we're looking for the market to come in on
And we're looking for the market to come in on a positive note, how we started the week, very overbought
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And we ended the week vary overbought, and of course,
And we ended the week vary overbought, and of course, the end of the week coincides with the end of the month, Mondays, last trading, day of the month, we always look for a bullish bias at
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the end of the month, some months, if the Market's
the end of the month, some months, if the Market's not doing well, that bullish bias can stop us from heading lower
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It does not guarantee positive results but this month it
It does not guarantee positive results but this month it looks like it is now, unfortunately, we've got a big question
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We've got the FED coming out with the its interest-rate
We've got the FED coming out with the its interest-rate pronouncements, and all the money is on a three quarter percent rate hike, whether it does or not see it
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Be determined, and, of course, it's not just the rate
Be determined, and, of course, it's not just the rate hike, it's the comments that come after, that can throw the market into a hissy fit
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So, we'll just have to wait and see what happens
So, we'll just have to wait and see what happens now, so far for the month
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The Dow is only 30 stocks when you compare that
The Dow is only 30 stocks when you compare that to some of the other broader indices things aren't looking as positive but they are positive
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So there's the TSX, making a new low this month
So there's the TSX, making a new low this month and that we're up 557%,
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not trading above the previous month's High, which will be
not trading above the previous month's High, which will be the first sign, something new is happening
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trading up to the lower channel line, not trading above
trading up to the lower channel line, not trading above the previous month's high, and then even weaker, we've got the nasdaq-100 up 524%
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So, That's how the overall Market looks that we did
So, That's how the overall Market looks that we did get a bunch of weekly buy signals this week and certainly for the ishares for the TSX 60
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We have not gotten the Buy Signal for the S&P
We have not gotten the Buy Signal for the S&P 500 or for the NASDAQ, but certainly for the Dow in the Dell diamonds, they are back on by signal so quite a few new buy signals
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and a cell signal for the Vic's, the Vic's close
and a cell signal for the Vic's, the Vic's close below, the lower channel line on the weekly chart so that may clear the way for us to continue to move higher from here, of course, we
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have to get over that said meeting on Wednesday, actually
have to get over that said meeting on Wednesday, actually the FED meeting starts on Tuesday, the announcement comes out on Wednesday at, there's the daily vix continuing to move lower
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So that again is bullish for the market, things would
So that again is bullish for the market, things would change on Monday, if you're watching the market on Monday, if the Vicks closes above $3042
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and of course, if that doesn't happen on Monday, that
and of course, if that doesn't happen on Monday, that a trend lines going to continue to move lower Daily
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Now, not surprising the big winners for the month of
Now, not surprising the big winners for the month of October have been the energy sector
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Well it was the Chinese market down at 10% or
Well it was the Chinese market down at 10% or so depending on which ETF you're looking at but that's not a pretty picture going forward
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And of course the China has not dealt with it's
And of course the China has not dealt with it's a mortgage and banking crisis yet and that is still unraveling and so wouldn't be surprised to see the Chinese market continuing to move lower from here
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Of course, we've got the daily and weekly price targets
Of course, we've got the daily and weekly price targets for about 2,300 symbols in our database at the moment
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And, of course, we're not going to go through all
And, of course, we're not going to go through all 2300 in this presentation
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If you saw our video on Friday, we were talking
If you saw our video on Friday, we were talking about the price target for the
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And do we are looking to see if it could
And do we are looking to see if it could to take out the early September
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Hi, that would take us up to the next Target
Hi, that would take us up to the next Target and that's exactly What happened on Friday? Took us up to 30 2008, 12:50, that is not only a daily chart at Target, but also a weekly
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Are we closed at 28122 as we hit that Target
Are we closed at 28122 as we hit that Target on Friday, if he had no order in to sell up at that level, that order got filled on Friday
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There are also a resistance and we'll have to see
There are also a resistance and we'll have to see if we can break through this week
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Look at those megatrends, until we did see a reversal
Look at those megatrends, until we did see a reversal in bonds this week
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30-year Bond made a new low and then moved up
30-year Bond made a new low and then moved up going into the clothes, 30-year bond yields made a new high and then came back that came up as a bearish reversal week
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And now we're looking to see if we get confirmation
And now we're looking to see if we get confirmation this week and of course everybody in the bond market is going to be watching what the FED does and says, on Wednesday at 4:30, looks like
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For the 30-year bond yields, of course, sponsored your body,
For the 30-year bond yields, of course, sponsored your body, oils are important cuz that's what those are
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9:30 would give us a cell signal and for the
9:30 would give us a cell signal and for the Euro we're looking for a close Above 10107 This coming Friday, that would give us a new Buy Signal so we're right on the Edge of that
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happening and we even saw the British pound move up
happening and we even saw the British pound move up even though it got its next temporary prime minister that was enough to push the British pound rate up to the upper Chan line
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So we're sitting right on the edge of a new
So we're sitting right on the edge of a new weekly, Buy Signal for the British pound looking at Metals copper I still trading in the channel here, but closing lower on the week
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So even if with a falling US dollar, we're not
So even if with a falling US dollar, we're not getting much interest in the price of gold
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Some of the gold stocks have done really well, even
Some of the gold stocks have done really well, even though the price of gold was down over $18, and then the price is silver down on the week trading in the channel
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We've got two crude oil trading up? I still in
We've got two crude oil trading up? I still in the channels or closed Above $9005,
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This coming Friday would get us back above the upper
This coming Friday would get us back above the upper Channel lines were still sitting on a by signal here from 4 weeks ago
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Gas is taking a break at the closed higher on
Gas is taking a break at the closed higher on the week's almost an inside week for natural gas
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We'll just have to wait and see if we can
We'll just have to wait and see if we can hold last week's low, okay? Folks, that is all for this weekend's presentation or we came into this week, with lots of daily by signals
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And now this week they've been followed up with a
And now this week they've been followed up with a lot of weekly buy signals, I'm not overly confident here
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We're still in a bear market and none of those
We're still in a bear market and none of those megatrends have changed it
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Move the seasonality from here to the end of the
Move the seasonality from here to the end of the year is bullish, but it's not a straight line and so it'll be interesting to see how the market reacts to what the FED does on Tuesday
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00:00:00Hello, everyone. It's Stephen Whiteside here
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00:00:02from the Uptrend.com with this weekend's edition of Stock Market Timing Television.
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00:00:07Well, the stock index futures have started
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00:00:09trading on Sunday night, and so far they're pretty quiet.
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00:00:12So that tells us there has not been any
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00:00:14major news stories over the weekend to disturb the market.
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00:00:18If you were with us last week at this time, things were looking up and we're
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00:00:22looking for the market to come in on a positive note.
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00:00:25We started the week very overbought and we ended the week very overbought.
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00:00:29And of course, the end of the week coincides with the end of the month.
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00:00:32Monday is the last trading day of the month.
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00:00:34We always look for a bullish bias at the end of the month.
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00:00:37Some months, if the market's not doing
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00:00:39well, that bullish bias can stop us from heading lower.
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00:00:43It does not guarantee positive results, but this month it looks like it is.
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00:00:47Now, unfortunately, we've got a big question mark on Wednesday.
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00:00:51We've got the Fed coming out with its interest rate pronouncements,
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00:00:54and all the money is on a three quarter percent rate hike.
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00:00:58Whether it does it or not, it's yet to be determined.
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00:01:00And of course, it's not just the rate hike.
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00:01:02It's the comments that come after that can throw the market into a hissy fit.
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00:01:08So we'll just have to wait and see what happens.
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00:01:10Now, so far for the month, it turned out to be very bullish
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00:01:13for the Dow up 14.4% and just trading above last month's high.
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00:01:19So that is a huge major reversal.
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00:01:21But remember, the Dow is only 30 stocks.
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00:01:24When you compare that to some of the other
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00:01:26broader indices, things aren't looking as positive, but they are positive.
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00:01:30So there's the TSX making a new low this
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00:01:32month, and we're up 5.57 percent, not trading above the previous month's
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00:01:37high, which would be the first sign something new is happening.
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00:01:40And the similar situation for the SP 500, up 8.8%, trading up to the lower
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00:01:46channel line, not trading above the previous month's high.
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00:01:49And then even weaker,
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00:01:50we've got the Nasdaq 100 up 5.24%, and then the Sox index up 5.5% for the month.
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00:01:59So that's how the overall market looks.
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00:02:02Now, we did get a bunch of weekly buy signals this week, and certainly for the
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00:02:07iShares, for the TSX 60, they are back on a buy signal.
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00:02:10We have not gotten a buy signal for the S&P 500 or for the Nasdaq 100,
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00:02:15but certainly for the Dow and the Dow Diamonds. They are back on buy signals.
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00:02:19So quite a few new buy signals.
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00:02:20And a sell signal for the VIX.
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00:02:22The VIX closed below the lower channel line on the weekly chart.
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00:02:25So that may clear the way for us to continue to move higher from here.
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00:02:29Of course, we have to get over that Fed meeting on Wednesday.
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00:02:33Actually, the Fed meeting starts on Tuesday.
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00:02:35The announcement comes out on Wednesday.
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00:02:37There's the daily VIX continuing to move lower.
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00:02:39So that again is bullish for the market.
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00:02:42Things would change on Monday.
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00:02:43If you're watching the market on Monday,
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00:02:45if the VIX closes above $30.42. And of course if that doesn't happen
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00:02:50on Monday, that upper channel line is going to continue to move lower daily.
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00:02:54Now, not surprising, the big winners for the month of October
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00:02:58have been the energy sector on both sides of the border.
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00:03:01So that's something both markets have in common.
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00:03:05Now the big loser for the month of October, well,
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00:03:07it was the Chinese market down 10% or so depending on which ETF you're looking at.
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00:03:13But that's not a pretty picture going forward.
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00:03:16And of course, China has not dealt with its mortgage
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00:03:20and banking crisis yet and that is still unraveling.
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00:03:23And so I wouldn't be surprised to see
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00:03:25the Chinese market continuing to move lower from here.
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00:03:29Now let's talk about price targets.
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00:03:31Of course we've got daily and weekly price
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00:03:33targets for about 2300 symbols in our database at the moment.
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00:03:38And of course, we're not going to go through all 2300 in this presentation.
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00:03:43If you saw our video on Friday,
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00:03:46we were talking about the price targets for the Dow.
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00:03:49The Dow had traded up to our next price
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00:03:51target and stopped and we were looking to see if it could take out the early
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00:03:55September high that would take us up to the next target.
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00:03:58And that's exactly what happened on Friday.
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00:04:01Took us up to 32,812.50.
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00:04:04That is not only a daily target but also a weekly target.
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00:04:08And that is also a target for the Dow diamonds, which is 328.13.
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00:04:13So we ran up, hit that target on the daily and weekly charts.
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00:04:17That could be the end of the road for the Dow.
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00:04:19We'll just have to wait and see.
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00:04:21You can also see that the QQQ's for the Nasdaq traded up to 281.25.
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00:04:27We closed at 281 22.
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00:04:30So we hit that target on Friday.
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00:04:32If you had an order in to sell up at that level, that order got filled on Friday.
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00:04:36Congratulations.
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00:04:37And then looking at the microcaps,
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00:04:38112.50 was our next target and we closed at 112.94 on Friday.
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00:04:44So we are hitting some price targets here.
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00:04:46Price targets are also resistance
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00:04:48and we'll have to see if we can break through this week.
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00:04:51Let's finish off this week's presentation
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00:04:54looking at those megatrends and we did see a reversal in bonds this week.
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00:04:5830 year bond made a new low and then moved up.
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00:05:01Going into the close.
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00:05:0230 year bond yields made a new high and then came back.
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00:05:05That came up as a bearish reversal week.
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00:05:08So of course, bearish reversal week is a 1
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00:05:11bar event and now we're looking to see if we get confirmation this week.
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00:05:15And of course, everybody in the bond
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00:05:17market is going to be watching what the Fed does and says on wednesday. 4.30
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00:05:23looks like resistance.
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00:05:24That's where we're topping right now for the 30 year bond yield.
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00:05:27Of course, 30 year bond yields are
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00:05:29important because that's what those mortgage rates are based on.
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00:05:33Then we're looking at the US dollar index
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00:05:35trading down towards the lower channel line.
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00:05:37A close this coming Friday below 109.30 would give us a sell signal.
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00:05:41And for the Euro, we're looking for a close above 101.07 this coming Friday.
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00:05:48That would give us a new buy signal.
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00:05:50So we're right on the edge of that happening.
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00:05:53And we even saw the British pound move up,
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00:05:56even though it got its next temporary Prime Minister.
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00:06:00That was enough to push the British pound right up to the upper channel line.
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00:06:04So we're sitting right on the edge
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00:06:06of a new weekly buy signal for the British pound.
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00:06:09Looking at metals, copper still trading in the channel here,
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00:06:12but closing lower on the week price of gold still below the lower channel line.
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00:06:17So even if with a falling US dollar, we're not getting much interest
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00:06:20in the price of gold, some of the gold stocks have done really
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00:06:23well, even though the price of gold was down over $18.
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00:06:27And then the price of silver down
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00:06:29on the week trading in the channel, so no trend going on there.
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00:06:33And then finally, energy.
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00:06:35We've got crude all trading up still in the channel.
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00:06:38So a close above 90.5 cents this coming
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00:06:41Friday would get us back above the upper channel lines.
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00:06:44We're still sitting on a buy signal here
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00:06:46from four weeks ago, but we're not really trending anywhere.
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00:06:50And speaking of not trending, well, natural gas has taken a break.
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00:06:54It closed higher on the week, so almost an inside week for natural gas.
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00:06:59So we may be finding a bottom here.
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00:07:01We'll just have to wait and see if we can hold last week's low.
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00:07:05Okay, folks, that is all for this weekend's presentation.
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00:07:08We came into this week with lots of daily buy signals and now this week they've been
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00:07:12followed up with a lot of weekly buy signals.
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00:07:15I'm not overly confident here.
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00:07:17We're still in a bear market and none of those megatrends have changed at all.
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00:07:22So I think this might be a temporary up move.
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00:07:25The seasonality from here to the end
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00:07:27of the year is bullish, but it's not a straight line.
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00:07:31And so it'll be interesting to see how the market reacts to what the Fed does
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00:07:35on Tuesday and Wednesday, especially after 02:00 p.m.
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00:07:39Wednesday afternoon.
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00:07:40Enjoy the rest of your weekend.
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00:07:42Next time you'll hear my voice is on Tuesday morning.