Mish’s Daily: MargetGauge’s Market Rarely Misses a Beat!
Written by Michele ‘Mish’ Schneider
Over the course of our writing the Daily, it has served as a reliable and remarkable guide for investors, traders, and investments.
For example, looking most recently, on August 22nd, we wrote about watching the dollar decline and TLTs rising. That is happening.
Earlier this week, we wrote about Biotechnology and the opportunity presenting itself there. IBB cleared the key price point.
Over the weekend you got to watch the Real Vision interview where we discuss buying silver and gold (up 6-7% already).
The week before we cover China and Alibaba-the opportunity emerging there. Today, BIDU led the China market higher.
Silver-another Daily written that featured the metals back on August 8-had a great couple of days.
The point is that the Daily is designed to give you our insights into the market along with actionable trading ideas. If you are new to the Daily, you can sign up for our free content easily.
For today, another word about BRICS and the recent headline:
BRICS nations agree to expand developing world bloc
Why is this important?
At a time when the world is experiencing de-globalization, an alliance of countries including Brazil, Russia, China, South Africa and possibly India is a potential threat to the west.
Currently, more than 40 countries have expressed interest in BRICS with 22 already formally asking to join.
The dollar is below the July 6-month calendar range high now while gold returned over the July 6-month CR low. Silver improved its phase.
Yields rallied through the TLTs and are threatening to outperform the SPY-a risk off scenario.
SLV is above the 50-DMA for an improved phase change to bullish.
The Real Motion indicator shows improved momentum. Plus, Silver is now outperforming the SPY-inflationary and perhaps the first sign of risk off.
GLD also improved its phase to Accumulation. More noteworthy than silver, it is outperforming the SPY-that is a sign of risk off even with the indices rallying today.
On Real Motion, GLD had a mean reversion.
Metals look strong.
Furthermore, the Dollar looks vulnerable failing the July calendar range high.
TLT looks like a huge potential double bottom in the making going back to October 2022. And even China got a bid, now having to hold above 26.50 or its July 6-month calendar range low.
For more detailed trading information about our blended models, tools, and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.
If you find it difficult to execute the MarketGauge strategies or would like to explore how we can do it for you, please email Ben Scheibe at Benny@MGAMLLC.com
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Mish in the Media
Business First AM DBA 08-23-23
Business First AM Nvda 08-22-23
Gold Outlook Kitco 2 08-18-23
Gold Outlook Kitco 08-18-23
Your Daily Five 08-18-23
Daily Briefing Real Vision 08-17-23
Business First AM 08-13-23
CNBC Asia 08-10-23
Benzinga Morning Prep Show 08-10-23
Business First AM 08-08-23
Yahoo Finance 08-01-23
August 24 Mario Nawfal Spaces hosted by Dr. Danish
August 24 Live Coaching with Mish
August 28 Chuck Jaffe Money Show
August 28 Guest host for the Final Bar, StockchartsTV
September 7 Singapore Breakfast Tadio 89.3 FM
September 12 BNN Bloomberg
September 12 Charting Forward StockchartsTV
September 13 Investing with IBD Podcast
October 29-31 The Money Show
S&P 500 (SPY) 440 now back to pivotal
Russell 2000 (IWM) Popped off the key support. 185 pivotal
Dow (DIA) Will watch to see if it can back over 347
Nasdaq (QQQ) 363 back to key support
Regional banks (KRE) Still needs to get back over 44 to be convincing
Semiconductors (SMH) 150 back to pivotal
Transportation (IYT) 239 still support to hold with 252 biggest overhead resistanct
Biotechnology (IBB) Compression between 124-130
Retail (XRT) 62.80 the July 6-mo. calendar range low that failed yesterday, saw a return above today.