Weekend Oct 29, 2023
All major rallies dating to the 41 DJIA low in 1932, the 1982 low, 2002, and 2009 lows of various cycle degrees ended Nov 2021-Jan 2022. That is the case for XLF the banking ETF. Blue wave one and two are comp;ete, now powerful wave 3 has completed minor wave one and two in red. Three is unfolding.Notice it is already testing the 200 week MA which is textbook expectation in a three of three down. At this point XLF has already lost 20% of its value in 18 months the larger decline lies ahead.
IEP Carl Icahn Fund
Carl spent his life telling other businesses how they should be run. He put his winnings in IEP and to his credit with dividends reinvested he has returned 12% per year since year 2000, well until this year. This year it has lost 63% of its value from the 47 high, He borrowed against his shares for some reason. Hindenberg Research put out a dividend warning in May and well you see what happened. He raced to re structure leading to a wave two up into August, and then the trend resumed. We post this chart as a forward looking prediction of what will happen to many such funds in the next two years. IEP is already well below the FIB moving averages.
TLT 20 year bond fund
Once the log bond hits a wave one bottom we will have a stunning counter trend rally, the kind where a well placed call option would pay off. We will keep you posted
With two real fighting wars and one waiting in the winds, Taiwan, no wonder gold and silver are taking off. NUGT looks ready to advance after a correction form 50 to 30, not for the faint of heart. Sorry Image will not post.
Silver AGE ETF
A move uo and then correction, about ready to go again see RSI top and MACD bottom.
Artificial IIntelligence is the latest investing and academic fad, NVDA is the jump on stock for this mania,looks like five waves are done
For some reason the NVDA chart wil .not post but it looks to have completed five waves up on the weekly chart. It is already bending over
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