All posts by Jeff Cooper
Why GDX Can Hit $40
GDX, the index with the major miners, undercut a Bottoms Line from the important October low on Thursday; however, Friday it gapped up. The surge faltered as GDX tested the a Bowtie of its 20/50 day moving averages. As well it succumbed to a test of the prior Friday’s reversal. Does someone not want to […]
Continue Reading -->Do You See the Sign of the Bear?
Friday’s Hit and Run Report, Is the Truth Teller IWM, A Liar?, highlighted a weekly IWM comparing the false breakout in November 2021 to a potential false breakout in late December 2023. That was before the Friday’s close was in the books. Now we know that IWM closed below the breakout pivot on the Friday […]
Continue Reading -->Why QQQ Could Hit $395 by Friday
“Based on a ‘natural cycle’ I’ve been working with recently, I expect a 4 ½% correction to start within days.” The above is from Friday morning’s Hit and Run Report. Like Clockwork Red, the selling commenced as 2024 kicked off. Last week on the private twitter feed we were concerned that the market could get […]
Continue Reading -->Why Gold Will Explode
GLD struck an important low of 168.30 on October 5, 2023 1) We are 90 days/degrees from that low today. Legendary market operator wrote that markets play out in these natural 90 degree divisions of the year. 2) GLD is working on a bullish 3rd higher low if it holds above its December low. W D Gann wrote […]
Continue Reading -->What You Need to Know About the “Tractor Beam Rally”
“If we wish to avert failure in speculation we must deal with causes. Everything in existence is based on exact proportion and perfect relationship. There is no chance in nature, because mathematical principles of the highest order lie at the foundation of all things.” -W.D. Gann Many years ago, a friend of mine was a […]
Continue Reading -->Gold and Silver Are on the Launching Pad
GLD closed at a new monthly all-time high in November. Often following big breakouts you get a check back. GLD pulled back from 192.39 to 183.15 in 6 days. On the 7th day it carved out an NR 7 Day…the Narrowest Range in 7 Days suggesting a resumption of the advance was on deck if the […]
Continue Reading -->Why the Santa Claus Rally Flopped
“You tell lies thinking I can’t see” –I’m Down, The Beatles “Clearly the market is so far out over its skis that the largest pullback since the October low could come at any time.” We wrote the above in Wednesday morning’s Hit and Run Report. Markets turn on a dime. Most traders cannot. We’ve been […]
Continue Reading -->Why the Lock-Out Rally Is Due for a Pullback
Since the explosion off the October 27th low, the SPX has only seen two consecutive lower daily lows ONCE… on November 28th. Otherwise, every other pullback has been defined by a one-day pullback below a prior day’s low. Wow. November 28th was one month after the low. It will be interesting if we get multiple […]
Continue Reading -->Markets Explode Into Gann Panic Window
The low for the decline was 3492 or 349 (SPY). 349 squares October 13 for a picture perfect Time/Price square-out at the October 13, 2022 low. Now notice that 470 is straight across and opposite 349. The above is from Monday’s Hit and Run Report. We followed up on the Hit and Run Private Twitter […]
Continue Reading -->Why IWM Can Plunge
The Truth Teller, IWM, made a new high for the move on Wednesday and then fell through the session leaving a large range outside down day or Lighting Rod (LROD). Range precedes price and these large range outside days attract traders’ attention often triggering momentum in the direction of the reversal. Not all reversals are […]
Continue Reading -->