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Market Moment

The Real Reason the Stock Market was Under Pressure…and how Jerome Powell Saved it.

US Stock Markets have seen some red this week. Yesterday, we saw an incredible drop but an even more spectacular dip buying opportunity. The real reason for this drop has to do with inflation fears and rising yields. Fed Funds Futures were pricing in an increased probability of the Fed raising interest rates. However, Jerome Powell during his testimony reassured investors that rates are not rising and saved the Markets.

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Tesla

Tesla (TSLA) Weighs Down the Nasdaq. How Low Can the Stock Go?

Tesla (TSLA) stock has confirmed a breakdown reversal pattern, and dropped towards our first target. We got great follow through today, but Stocks are now getting a bid due to Fed Chair Jerome Powell easing fears. Both Tesla and Apple impact the Nasdaq greatly, and is the reason why the tech index lead the other markets downwards…however we are at a major zone where we could expect to see buyers step in.

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Is the Stock Market Going to Crash? Bond Yields and the US Dollar Point to Trouble.

Stock Market Crash was trending over the long weekend. I go over the Market metrics which are calling for a Stock Market Crash, before talking about the Federal Reserve’s role, and the hunt for yield. Long time readers have known and profited from this since the everything crash last year in February. Finally, if a Stock Market Crash is going to occur, these are the two charts I would be watching for a confirmation.

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Plus Products

Plus Products (PLUS.CN) Breakout as Senate Democrats vow to Legalize Cannabis.

Plus Products (PLUS.CN) is one of the best looking technical set ups in the Cannabis sector. We confirmed a breakout last week, and as a new week begins, price action is indicating another strong close. The $1.00 zone remains key going forward, and we expect to see momentum continue given the fundamentals of the sector, the company, and the technicals.

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Stock Market

Stock Market Topping? Or is a Blow Off Top Incoming?

As a technical trader, I cannot ignore the daily set ups on the US Stock Markets. Could we be in store for a topping reversal? Or are we setting up for a blow off top? I recap the fundamentals that most of my readers already know about, but also look at some other interesting technical developments.

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Silver

WallStreetBets Silver Short Squeeze: These are the Prices to Watch

Silver Short Squeeze has been trending on Twitter. The WallStreetBets army have their eyes on the white metal. Regular Equity Guru Market Moment readers know that I am bullish Silver due to the monetary and fiscal policies coming to combat the pandemic. Here are the targets, and price zones one should be watching.

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WallStreetBets to Short Squeeze Silver? JP Morgan Called Out.

WallStreetBets have been squeezing Gamestop(GME), AMC, Nokia(NOK), and BlackBerry(BB) to name a few, but is Silver next? My readers have known why I am bullish on both Silver and Gold. We have just patiently been waiting for the technicals to give us the breakout, of which we think will provide us with a good year for the metals. But perhaps we bulls will be getting a helping hand from those over at WallStreetBets?

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Manganese X

Manganese X (MN.V) Up 60% as Tesla (TSLA) Prints New Highs and Biden Demands EV Fleet.

As trader eyes are on the epic short squeezes, some small caps are making moves. Manganese X (MN.V) is fulfilling our technical breakout! This was covered late last month, and I have kept our readers updated on the trade and its major breakouts. Well, another major resistance was taken out yesterday, and we in fact tested the second resistance target. What comes next for the stock?

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BlackBerry

BlackBerry Stock (BB) Soars! Epic Short Squeeze Similar to GameStop (GME) and Tesla (TSLA)

BlackBerry (BB) was covered here on Equity Guru way back in December. We presented our case, and so far so good. Congratulations to those who have taken the ride with us. The fundamental case remains the same. Still very exciting. We must factor in an epic short squeeze created by the retail crowd. On the technical side of things, we have hit a major resistance zone and we should expect profits to be taken.

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Manganese X

Manganese X (MN.V) Breakout Triggers 80% move as Tesla (TSLA) and Nio Hit Record Highs

Manganese X (MN.V) has been on breakout reversal watch since December 2020. Strong 80% plus move with 8.33 million shares traded! The fundamental news was Battery Hill favourable metallurgical results. Going forward, the stock is in a new uptrend cycle and we expect this momentum to continue. Democratic green energy spending, and Electric Vehicle stock moves such as Tesla and Nio provide further catalysts.

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Markets Expecting a Bank of Canada “Micro” Interest Rate Cut

The Bank of Canada is set to make its next move in the ongoing currency war with a micro cut down to 0.10% next week. This was expected by us. Central Banks are attempting to weaken their currencies to boost inflation, and in some cases, boost exports. A cheaper currency also allows all the debt, and government debt, to be paid back in cheaper currencies. We have been calling this, and why the way to play this is to be in hard assets/commodities and even cryptocurrencies.

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Ethereum

Ethereum Price: Expect All Time Record Highs on Bitcoin Price and Cryptocurrency Surge!

Crypto’s have been lit. Bitcoin continues to make all time highs, and Ethereum is making moves. The Cryptocurrency market has surpassed 1 Trillion today, and I expect this cap to increase going forward. My base case remains the run out of fiat, and pricing in the crazy monetary and fiscal policy going forward. Today’s focus is Ethereum. What’s next? And what are targets to the upside?

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Agricultural

New Year 2021 Market Outlook: Agricultural Commodities Take Off! Canadians to Pay More for Food in 2021.

The Agricultural Commodities (Corn, Wheat, Soybeans), are indicating major breakouts incoming. What does this mean for food prices in 2021? Why am I bullish agricultural commodities and agriculture for the long term? The agricultural commodities do not get the love that they deserve, and I think it is time to start paying more attention to them.

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Manganese X (MN.V)

Manganese X (MN.V) Reversal Pattern Set Up!

Manganese X (MN.V) is developing one of our favorite high probability reversal set ups. In today’s Market Moment, I break down this reversal pattern and what future price action will trigger our pattern. What are some catalysts and fundamentals going forward for this space?

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Gold

New Year 2021 Market Outlook: Gold Price Over $3000? Ready to Repeat 2008 180% Move?

Be very excited for Gold in 2021 and beyond. The technicals and the fundamentals are duplicating that of 2008, where we saw a 180% move! In this Market Moment post, I break down what I am seeing in the chart currently, and how this is a carbon copy of 2008. The technicals are the same, and the fundamentals are more extreme! What we are seeing in Bitcoin is indicating a move out of Fiat. Gold, Silver and other commodities are set to have a great year ahead.

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Apple

Apple Now an Electric Vehicle Play?

Apple stocks breakout and retest has been successful. Technicals look good amidst reports of Apple producing an Electric Vehicle. Even though we are years away, questions are already being asked about Apple competing with Tesla. Both have significant brand power with the millenials.

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Brexit

European Markets Breakdown: New Strain of Covid and Brexit.

Global Stock Markets reacted to reports of a new Covid strain in the UK, but Brexit talks should seen as another major catalyst. Taking a look at the UK FTSE, the German Dax, the French CAC 40 and the Spanish Ibex 35, many European markets are showing a breakdown pattern. What are the technical levels we are watching?

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Tesla

Tesla Joins the S&P 500, $1000 per Share Possible?

One of the most anticipated market events was Tesla joining the S&P 500. Today marks its first full trading day on the S&P. The stock is down over 5%, but that has to do with the overall fear affecting global markets. In today’s Market Moment, I want to go over some stats regarding Tesla joining the S&P.

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Gold

Federal Reserve Rate Decision to Trigger Gold Breakout? Set Ups Heading into Fed Day!

The Federal Reserve Interest Rate Decision is today, and many expect an increase in the purchasing program. The ECB increased their bond purchasing program and the Fed may respond in this currency war. As central banks attempt to weaken currencies, Gold and other hard assets are where you want to be. Gold is setting up for a reversal pattern, but let’s also look at other narratives going into Fed day.

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Fandom Sports

Fandom Sports (FDM.CN) Retests and Ready to Pop?

Fandom Sports (FDM.CN) has been on our radar over on our Discord Trading Room. We got the break, and look forward to momentum following. The major catalyst is Bill C-13 which would decriminalize single event sports betting. The chart broke out on this news, and we are now retesting the breakout zone!

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BigCommerce

BigCommerce (BIGC) Prints Reversal Pattern at IPO Support

BigCommerce (BIGC) has been one of the many IPOs of 2020. After a few months of price action, we have price levels to work with! Meaning we have confirmed support and resistance zones with multiple touches. BigCommerce is now printing our favorite reversal pattern the head and shoulders, at IPO support. Here is how I would play it!

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US Dollar

US Dollar (DXY) MELTS Below 2012 Trendline! Currency War Heats Up!

The US Dollar (DXY) chart has been the one to watch for geopolitical and macro trends. Well, we have now broken below our major support level! Not just any trend line, but one going back to 2012! The long term uptrend is not officially over. With the Dollar dropping, it means other currencies will strengthen…at a time when all central banks want a weaker currency in order to prop up economies due to Covid. The Currency War is heating up!

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Airlines

Airlines Breaking Out as Vaccine Nears! JETS, UAL, ALK, AAL, DAL

Airline stocks are pricing in a Covid Vaccine and a return to normal travel sometime next year. Breakouts are pointing to moves higher! The Airline stocks were covered months ago on Market Moment. They have moved higher since then, but the momentum took sometime, meaning you would have missed out on other moves if you kept holding. The breakouts now have some fundamental backing to it.

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Cannabis

Canadian Cannabis ETF HMMJ Retesting Breakout Zone

Cannabis seems to be the theme of the week and for good reason. We have a big catalyst this week, and charts are setting up nicely! I want to bring up the Cannabis ETF HMMJ. We have broken out of a major basing period, and price has pulled back to retest the breakout zone. A very good risk to reward set up here!

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Blackberry

Why I am Buying Blackberry Stock for the First Time.

Blackberry (BB.TO) was a chart I mentioned to our Discord Trading Room members on the breakout on Nov. 20th. Big deal with Amazon announced today! Members will recall that I was bullish on the chart, but also the fundamentals with their QNX OS and autonomous vehicles. This deal with Amazon is for a vehicle software platform! This changes the fundamentals and outlook for the company drastically!

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Isracann

Isracann (IPOT.C) Breakout and Retest! 0.38 Next Price Resistance!

The Cannabis sector is hot! Our Aphria idea was a winner! We are still riding the breakout on Village Farms! HMMJ confirmed the breakout on Friday. Cronos Groups remains on breakout watch! But one chart I mentioned in a previous post was Isracann (IPOT.C). It was a breakout contender, and that breakout has been confirmed!

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Bitcoin

Whale’s Buying Bitcoin? BTC testing 2017 Candle Body Highs!

Bitcoin has made a spectacular run, and people want to know why? Is it large whale’s buying? Or is it something more macro in scale? Is this the move out of fiat that I have been predicting? I believe so. Not only Bitcoin, but Ethereum and XRP are also making double digit gains. We are hitting important resistance levels on all these charts.

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S&P

The S&P and the Dow Fake Out? A Short Swing Trade Set Up.

The S&P 500 and the Dow Jones closed into record high territory, but then saw a close back below support yesterday creating a fake out. Both stock markets continued to decline on the back of the new US Jobless Claims data print which points to signs of the economic recovery stalling. A short trade set up has presented itself to us. These are the levels I am targeting!

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Village Farms

Village Farms (VFF.TO) Meets EG Trade Idea Criteria with a Major Breakout!

Cannabis stocks have been making some nice breakout moves. I covered a few charts last week, and today, I bring you Village Farms (VFF.TO). This is a chart we mentioned to our Equity Guru Discord Trading Room members just a few days back. It met our criteria for a trade and it has performed! What are our next targets for the stock?

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Tesla

Tesla Joins the S&P, and Buffett Buys Big Pharma!

Tesla has announced it will join the S&P starting Dec. 21st which should see ETF’s buying shares of Tesla. The stock remains within a wedge, and traders await the break in either direction. The large gap is extremely bullish. In other news, Warren Buffett has dipped into stocks again, this time with a Big Pharma theme. Whenever the Oracle buys, the financial world pays attention.

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Exxon Mobil (XOM)

Exxon Mobil (XOM) Breakout Pattern Backed by Oil Gains.

Exxon Mobil (XOM) has been on our radar for a reversal. With Oil having 4% gains a day recently, do we have the momentum to carry XOM higher? Is it even worth buying Oil stocks in this day and age? What would be the macro thinking in taking a position in energy? Nonetheless, we have our reversal inverse head and shoulders pattern confirmation!

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Cannabis

Cannabis Gains Incoming with a Biden Presidency? MSOS, CRON, CANN, HBOR, IPOT, PLUS.

Cannabis will be one of the sector which will benefit from a Biden Presidency. Here are some chart set ups which have caught my attention. CRON was a great trade set up which was presented to our Equity Guru Discord Trading Room members. Some nice basing patterns in Plus Products (PLUS), Isracann Biosciences (IPOT), Harborside Inc (HBOR) and Heritage Cannabis (CANN).

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stock markets

The Dow and the S&P Hit Record All Time Highs at the Open!

US Stock Markets are on fire at the open! The S&P 500, the Dow Jones, and the Russell 2000 have opened into record all time highs. Not only is the uncertainty of the US election now put aside, but we received news that a Covid vaccine is 90% effective! We will be watching to see if we get the daily candle close in record high territory to confirm this major breakout. Currently, we are seeing some selling likely from profit taking.

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NetCents

NetCents (NC) Breaks Out as Bitcoin Touches 15,000!

Big move in Bitcoin, as it breaks above an important weekly resistance level. The chart of NetCents (NC) also display a popular reversal pattern. We do have an inverse head and shoulders pattern, but the cup and handle print looks more cleaner. The confirmation trigger was printed yesterday with a daily break and close above the resistance and highly psychological zone of 1.00.

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election

“Blue Wave” Election Fails to Materialize, Stocks Hold Impressive Overnight Gains.

Wild day already after Wall Street begins to react to the US Presidential Election. Markets popped overnight, and they are still holding onto their impressive gains. In fact, we saw some equity indices break out higher intraday! The most interesting thing for me, is the fact that risk assets are showing signs of NO fear. The 10 year and the VIX have sunk with 15% and 20% moves. What is this pointing to? More uncertainty is coming down the pipeline, but currently, the market seems not to care.

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election

US Presidential Election: 3 Scenario’s and the Stock Market Impact!

And so it begins. Today is the US Presidential Election. In a week with many high risk events, this tops the list. First, I shall discuss the 2016 election and how markets reacted. Finally, we will delve into the three possible scenario’s and outcomes of todays vote and what that means for the stock markets.

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election

The Most Important Week of 2020: US Election & More.

Very big week. The US election is on everyone’s mind, but we do have the Fed, the Bank of England and NFP on tap this week! Stock Markets are acting as expected: ranging and holding support. I do expect this to be the case until overnight trading tomorrow. The real action will occur when the US markets open for trading after the US election results.

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Draftking

Draftkings (DKNG) Trade Update, Price Hits our First Target!

Last week, I highlighted the head and shoulders reversal pattern on the chart of Draftkings (DKNG). We have now hit our first take profit zone! Is a second leg in the works? Quite possibly given the broader market action. What would be our second take profit zone? And how can one manage a trade with multiple targets?

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VIX

The VIX hinting to more Stock Market Losses and Uncertainty?

We have been patiently awaiting the range break on the VIX over on the Equity Guru Discord Trading Room. It has happened after yesterday’s volatile day. This is something we should expect heading into a high risk event: the US election. The VIX has a few ways it can play out, and two of those point to more stock market losses. We should be expecting more volatility heading into next week.

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Stock Markets

Stock Markets Pricing in a Trump Win? Risk Off before the Election!

Stock Markets have been propped higher due to pricing in a Biden and a Blue Wave victory. The Democrats mean MORE cheap money. Has this changed? It appears so. The markets are buttering and breaking through major support zones. This is the type of volatility we should expect. We are heading into a high risk event, and it seems risk off assets are the place to be. Enter Bonds.

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Vapotherm

Vapotherm (VAPO): A Covid Play with a Head and Shoulders Reversal Pattern!

Vapotherm (VAPO) seems to be an under the radar Covid-19 play. Liking the chart as it adheres to our market structure principles. The risk vs reward ratio is also too good to pass up. As with all our reversal patterns, the breakout is key and acts as our trigger. We need a daily candle close above our neckline resistance zone, which could come as early as today.

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Bitcoin

Bitcoin Pointing to a Return to $14,000 on Paypal News!

The Bitcoin chart is one which we have followed very closely in our Discord trading group. Gave us plenty of breakouts, and another is setting up! A breakout confirmation today would take us to $14,000. Bitcoin saw two major news: first was the Square purchase of Bitcoin, and today, we have heard Paypal will be allowing customers to buy and pay with cryptocurrencies!

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General Electric

General Electric (GE) Triple Bottom Breakout on Boeing 737 Max News

The chart of General Electric (GE) is one that is too good to pass. A nice bottoming pattern with a breakout with fundamentals as well. Yes, earnings are coming up which will likely be bad, but I argue these bad earnings have already been priced in. With this breakout, GE still presents a great opportunity for entry with a good risk vs reward ratio.

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Sixth Wave

Sixth Wave (SIXW.CN) Breakout Imminent!

Sixth Wave (SIXW.CN) is the type to chart that I would take over and over again. Nice set up, and we are now awaiting the confirmed breakout! A nice bottoming with a double bottom coming in at 0.25. We are now awaiting a daily candle close for our trigger. Targets to the upside provide an excellent risk vs reward scenario.

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Draftkings

Draftkings (DKNG) Head and Shoulders Reversal Printed!

The daily head and shoulders reversal pattern is clear on Draftkings (DKNG). On a green market day, DKNG continues lower. This is validating the reversal pattern and indicates how powerful the technicals can be in deciding when to enter into trades. We have a major support zone at the $42.00 area, so expect a lot of profit taking there.

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Hong Kong

Hong Kong Dollar Peg Targeted in US-China Currency War?

I must admit, I was spooked when I saw the USDHKD break below peg support before the weekend. I knew this pointed to a currency war behind the scenes and could explain why the US Dollar has been weakening. Was it to battle against the Chinese and attack the Hong Kong Dollar peg…it seems so.

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Harborside Cannabis

Cannabis Charts on Fire! Harborside Cannabis (HBOR) and Aphria (APHA)

The Cannabis sector is heating up, whether it is from pricing in a Joe Biden victory, with VP Kamala Harris promising the administration will decriminalize Marijuana, or if it is from the retail traders chasing cheap and undervalued sectors compared to everything else in this market. You take your pick. What cannot be argued is that the Cannabis charts are once again displaying some nice patterns which do have a trigger catalyst!

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Nasdaq

Nasdaq Trade Hits Our Take Profit Zone! New highs Incoming?

A few weeks ago, we initiated a Nasdaq long trade on the break and retest of a double bottom pattern. Our take profit level was hit, but there was a lot of volatility along the way thanks to President Trump and his Twitter. But alas, our stop loss reasoning and logic proved to be true, as it adheres to market structure. We remained in an uptrend as long as price stayed above that zone. What is next? New highs seem likely, and Apple’s Iphone 12 event can be one trigger on the path to new records.

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spy

Stock Markets Breaking Out on Hopes of More Cheap Money!

It seems the stimulus deal is back on, as both sides work to etch out a deal before the Presidential Elections. This promise of cheap money is really what is propping markets. Regardless of who wins the election, this will not change. In fact, we can say the market is pricing in a Biden victory which means even MORE cheap money due to the social programs etc. Chart wise, all large US equity indices have made a broad head and shoulders pattern. The S&P is running, the Dow is retesting, while the Nasdaq awaits to breakout!

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Stocks Drop on Trump Scrapping Stimulus Talks…Art of the Deal or Art of the Fold?

Art of the Deal or Art of the Flop? It is confirmed it was the latter. President Trump tanked the markets on a tweet calling for stimulus talks to halt until after the elections. Less than 24 hours later, he has changed his mind. He probably saw the reaction in the markets. On the technical side, all markets dropped but held their support zones. Breakouts are still on hand.

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pmed.png

PredictMedix (PMED.C) Closes Above Resistance on a 10% Gain!

It was a hot day for the Covid plays after it was announced President Trump would be discharged and would return back to the White House. The charts of Gilead and Regeneron looked great, but PredictMedix (PMED.C) created an important technical break with a 10% move. We have now broken back above resistance, meaning the downtrend is now nullified. Resistance has now become support, and the company’s fundamentals points to further momentum!

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Gilead

Gilead: Our President Trump Recovery/ Early Discharge Play!

Crazy few days and headlines as President Trump and the First Lady tested positive for covid on Thursday night. We are hearing that the President has recovered, and is set to be discharged as early as today. It came out that he took Gilead’s Remdesivir. The chart of Gilead meets many of my criteria. A good set up!

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Gold

Gold Bulls Be Cautious as Price Retests 1900 Resistance!

One of my contrarian calls has been a Gold pullback to 1800 and a Silver pullback to 20.50. Do expect we are in the process of making our first lower high on the metals with a move down to those targets. Daily close today can be the trigger for a short entry…but watch the Dollar!

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Nasdaq

Nasdaq Buy Initiated after US Presidential Debate Volatility

What a freak show yesterday. As promised, markets did react to the Presidential debate. Post debate markets sold off quite violently, and I believe it was because Biden’s economic, or rather, lack of economic policy. The markets are already expecting a Biden victory as he leads the poll. This means more cheap money!

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GDXJ MUST Remain Above this Zone to Maintain Bullish Trend!

It has been awhile since I spoke about the GDX and the GDXJ, but the latter is at a very important zone. GDXJ is back retesting the breakout zone and I cannot stress how important it is for price to remain above here to maintain our bullish stance. All eyes on Friday’s close.

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Dollar

Emerging Markets (EEM) Trade on the US Dollar Breakout

The US Dollar (DXY) has broken above our zone and has now triggered the pattern and the bullish trade. This Dollar strength is coinciding with US equities retesting their break down zones. Our currency pairs are moving, and we are seeing Gold and Silver react. Emerging Markets EEM presents an interesting play here!

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Powell

Stocks at Key Support after Fed Speech. Powell not Dovish Enough?

Stocks are now at key support after a large sell off overnight during market futures. We have opened today at a major key support. Stocks can either bounce from here on the 4 hour, or we continue lower with a reversal pattern trigger. Some key changes in the Fed’s statements tell us that more cheap money is coming.

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Oil

Oil Moves on Iranian Threats, Breakout Triggered!

Oil is a chart we have not spoken about lately here on Equity Guru’s Morning Market Moment. However, a 4 hour chart trade idea has presented itself to us. The breakout occurred yesterday, and we do expect to see a pullback before moving higher and hitting our final targets.

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Stocks

Stocks Form Reversal Pattern on the Back of Central Bank Promises

On Tuesday, I spoke about stocks being in a crash or a pullback. I opted for the pullback because of the macro environment we are in. Central banks promising more cheap money for a very long time, and quite frankly, propping equity markets by creating an environment where stocks are the only place to go for yield.

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East Asia Minerals

East Asia Minerals (EAS.V) Bounces off Support on AMDAL Approval

East Asia Minerals (EAS.V) has been a chart that we have been following closely on the Equity Guru Discord Trading Room. And for good reason. The chart is one that caught our attention, and the fundamental story is exciting. The chart has been covered before, and we have pulled back to retest the previous breakout.

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Stock Market Crash

Stock Market Crash or Pullback?

We have had a couple of red market days to end off last week, and markets resume this week with a sell off. A lot of perma bears coming out saying this is the crash. To me, this was the pullback I have been hoping for. Markets moved too fast in a short period of time. The fundamentals have not changed!

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