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DrStool

BTFD Again? Stocks Pull Back to Support and 2-3 Day Cycle Projection 7/22/20

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Stocks pulled back this morning in the pre market, reaching trend support and a 2-3 day cycle projection of 3228. 

Hourly indicators are still bearish, but have reached the levels of their last minor lows.  

An obvious place for them to buy the dip again.  

 

 

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I find it interesting, and disturbing, that the USD is steadily sinking against the euro during a time of year when millions of Merkan tourists are normally buying euros with USD. This year that trade isn't happening at all, and yet the euro is rising. 

It's a measure of the growing worldwide sentiment against the US. 

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The EUR/USD is terrifying. 

I need to hedge. 

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The monthly chart of the EUR/USD is really bullish. Once through 1.17, oy. 

tvc_1ea0b56d1e82f32f2d63e11598b07417.png

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Another Crazy day in PM.

Silver price Target is $23-$24 Then I am dumping it all

 

silver-1.thumb.png.bbb2128fe503faf8049a37c4d217ef20.png

 

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1 hour ago, DrStool said:

The monthly chart of the EUR/USD is really bullish. Once through 1.17, oy. 

tvc_1ea0b56d1e82f32f2d63e11598b07417.png

you can add to that:

monthly RSI at 58

12 Month ROC buy signal (per end of July)

monthly MACD buy signal (since end of June)

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26 minutes ago, jp6 said:

Another Crazy day in PM.

Silver price Target is $23-$24 Then I am dumping it all

 

silver-1.thumb.png.bbb2128fe503faf8049a37c4d217ef20.png

 

You dump everything? I don't understand exactly why.

I can see nothing bearish on this chart here:

Higher lows, crossed thru resistance, broke pivot high from 2016, RSI up, MACD buy, ROC buy...

I mean sure, on the short term Silver is overextended, but on longer term view uptrend looks healthy

 

 

20200722_Silver_monthly.png

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2 minutes ago, fxfox said:

You dump everything? I don't understand exactly why.

I can see nothing bearish on this chart here:

Higher lows, crossed thru resistance, broke pivot high from 2016, RSI up, MACD buy, ROC buy...

I mean sure, on the short term Silver is overextended, but on longer term view uptrend looks healthy

 

 

20200722_Silver_monthly.png

Only Silver when it hit my target, sell some Gold in September.

I will be able to buy it back at much lower price, specially silver500421190_silverRockeridejuly2020.thumb.png.6040da1610160e8ac9ed455d8933f716.png

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33 minutes ago, fxfox said:

you can add to that:

monthly RSI at 58

12 Month ROC buy signal (per end of July)

monthly MACD buy signal (since end of June)

Those are the indicators at the bottom of the chart. I use my own numbers but they are RoC and MAC as well as True Strength. 

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I just realized that US unemployment benefits are taxable income. So that fucks up the withholding chart as a guide to jobs. But not to overall economic impact. 

July has had a surge. 

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+5% y/y. That's crazy. 

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UE bennies are only subject to income tax, not payroll taxes. IOW, no social security/medicare tax. But at the rates they currently paid, they would withhold around 10-15% from most bennie checks. Considering that includes gig workers,  and that many states withhold, and allow allow it as a choice, this is boosting the daily withholding tax collections. 

Learning something new every day. 

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2 minutes ago, DrStool said:

UE bennies are only subject to income tax, not payroll taxes. IOW, no social security/medicare tax. But at the rates they currently paid, they would withhold around 10-15% from most bennie checks. Considering that includes gig workers,  and that many states withhold, this is boosting the daily withholding tax collections. 

Learning something new every day. 

... and that at that age! :lol:

btw, this --> :lol: smiley is the best smiley ever. Unfortunately it didn't make it to IOS(MacOS or Android, can only use it when I am at the computer.

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