Watching For A Big Move In Gold

Gold and gold stocks are setting up a basing formation that will eventually resolve into a big move higher or lower.  Sentiment in the gold market is bearish and the media is totally ignoring the gold market right now.  Seasonally gold tends to make a major bottom around the end of June and the start of July.  All that and more is discussed in the video below:

Tech Leads The Market And Not Chasing Overextended Stocks

Happy Memorial Day to all NBT readers!

In this video I discuss the weak breadth that has occurred across the stock market since early March 2017.  Weak breadth means that less stocks are participating in a market rally, which means that it’s harder to find a stock that’s outperforming the market.  The market so far in 2017 has been led by large cap tech stocks and by the semiconductor industry groups that have been in strong Stage 2 uptrends since the middle of 2016.

In the second part of the video I go over the importance of not chasing overextended stocks that are far away from the 30-week moving average.  This can lead to losses and occurs because traders lack discipline to wait for a better buy point after the stock has consolidated for a while.