Gold
Watch gold here; it's about to potentially break an uptrend line that has been in place since July 27, as well as potentially break horizontal support at 1322. I'm watching for it to find potential support around the 50 dma, which is currently just shy of 1300.
NDX
The NDX seems to have touched resistane (see chart below). Should it break up it could reach 2007 highs. Technically speaking this formation looks to me like an inverse head and shoulder pattern.
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This morning it's Europe again that's front and center. This time Portugal seems to be worsening by the minute and as a result it's credit spreads are blowing out and the Euro is getting more fists and elbows. Speaking of the Euro, it's now blown below the key 1.313 level I mentioned yesterday and […]
Please note the downside gap in the VIX from yesterday. To me this says investors don't feel the need for any sort of hedge any longer. I view it as dangerous and a bearish sign.
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Buy the equally weighted S&P 500
It has been our view since the second half of 2020 that the ‘average stock’ is likely to outperform the S&P 500 for the coming years. One way to benefit from this is to buy the equally weighted S&P 500, which can be done with the Ticker: RSP etf
Sector highlight: Bullish opportunities in healthcare stocks
In this sector highlight video, I discuss the bullish opportunities we currently see within the healthcare sector both on the sector level as well as in individual stocks.
Why implied volatility is so important
https://youtu.be/QCtI2wgvO1E Next time you are looking to buy or sell an option, pay close attention to the option’s implied volatility level. This is crucial because high implied volatility options sometimes can prevent you from making money, even if you are dead on correct in your directional assessment of the underlying stock or ETF.