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Jeff Cooper: Gold May Hit $1200 Before a Super Advance

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My favored scenario in gold is that the leg up from January 2006 was a wave 1 up following a near 5 year bear market. A corrective wave 2 played out into December 2016. If that is correct the recent rally was the beginning (a wave 1) of a powerful 3rd wave and this latest […]

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Relative Strength in ABBV

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Below is highlight of a trade from the Off the Charts Newsletter: ABBV finally cleared the 200day sma yesterday after struggling underneath it for a couple weeks and the breakout was confirmed today as it had a strong session of steady buying. ABBV actually opened red along with the overall market but quickly reversed to […]

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Q&A: Is the Russell 2000 Overbought?

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Hi Mike, I’m a subscriber and I mostly follow Scott Redler’s Daily Recaps. I just noticed that wrote about sentiment. Anyway, I only trade TNA and TZA (3X Russell 2000 ETF’s). Don’t you think it’s way overbought? -Rolando The Russell 2000 has come 21% since its pre-election lows, so under the most basic rule of […]

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T3’s Take 3: Snapchat Screams Up 44% on Day 1

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1) Snap Crackles and Pops Snap Inc. (SNAP), maker of the popular Snapchat social media app, came public today in the most highly-anticipated IPO of 2017. News reports indicated the deal was oversubscribed by 10 times, and given the stock’s huge pop today, that’s not unrealistic. Snap came public at a price of $17. But […]

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Weekly Sentiment Update: Bulls Are on Parade and Froth Is Setting In

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Permabulls always say everyone’s bearish. And permabears always say everyone’s bullish. But let’s look at the actual numbers to see how the crowd actually feels. Last week, we saw sentiment climb to undeniably bullish territory. Now, let’s see if anything’s changed following the market’s HUGE bull move off President Trump’s address to Congress. 1) VIX Spread – […]

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The AAPL Doesn’t Fall Far from the Tree

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Editor’s Note: This is a FREE edition of Jeff Cooper’s Daily Market Report. For some time the axiom that “AAPL is the market” fell to the wayside. That changed when AAPL broke out in January, continuing to a new all-time high last month. Now that AAPL has eclipsed its high from the spring of 2015, it […]

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Chart Attack: SPX Analysis

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We have mixed markets around the world as some areas digest big gains. SPX futures are down 3-4 handles after a big gap andgo. Now we’ll see if yesterday’s gap holds, or if they probe 2380 as a new spot to measure for adjustments. Also, see how IWM, XLE, QQQ, and FAS handle their gap […]

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T3’s Take 3: Trump Smashes Bears With Crowd-Pleasing Speech

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1) President Trump’s Big Night Out Last night, President Trump surpassed very low expectations by offering an optimistic tone in his speech to a joint session of Congress. This week, I’ve been saying that Trump could shock his detractors with detailed plans. He didn’t offer much in the way of details last night, but his more […]

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Why YELP Could hit $40+

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This is a sample trade idea from the Off the Charts Newsletter. Yelp (YELP)  YELP is a new name on watch for a long. YELP was a top performing tech name in 2016, breaking a multi-year downtrend in February/March and rallying consistently over the next several months to finish December up substantially for the year, […]

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Chart Analysis: SPX

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We have strong markets around the World after President Trumps strong delivery in front of a joint Congress. The SPX futures were up 10-12 points, pre-open. For today, see if we can hold 2371 and stay above it to extend towards 2400. Or, will ‘they’ try and sell the news to put a lid on […]

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