UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
*** CLICK HERE for link to Economic Calendars for all upcoming events.
Friday, December 09, 2022
Lululemon's (LULU) unsold inventory is piled up to the rafters!
With a likely recession looming in 2023, this does not bode well for their stock.
The following monthly chart of LULU is signalling further volatility and weakness ahead, with the potential formation of a bearish Head & Shoulders pattern, as well as the Balance of Power flipping to the Sellers.
A drop and hold below the neckline at 245.00 could prove to be catastrophic and see a plummet to its H&S target at 50.00.
The Retail ETF (XRT) is already weak, and the Sellers are in charge, once again, as shown on the following monthly chart.
Major support sits much lower than its current price, at 50.00. A drop and hold below could see price plunge to 40.00, or even lower to 20.00.
Tuesday, December 06, 2022
* See UPDATE below...
The following ZeroHedge article, pertaining to Saxo Bank's 10 Outrageous Predictions For 2023, is interesting.
My analysis will focus on on their prediction of Gold (GC) at 3,000 in 2023.
Technically, a target zone of between 2,990.94 and 3,049.12 exists.
It is formed by a long-term External 2.236% Fibonacci level at 2,990.94 and a long-term 1.382% Fibonacci Extension level at 3,049.12, as shown on the following monthly chart of GC.
As I'm writing this on Tuesday, the current price is 1,783.15. That's shy of 1,216.85 points yet to be gained by the end of 2023 (a gain of 68%)...or approximately 100 points per month.
So, while that would be an unprecedented move for Gold in one year, 3,000 is within the Fibonacci target price zone...and is technically possible.
I'll leave the odds of that happening to the market makers. 👀
On a shorter-term timeframe, keep an eye on the following daily GOLD:GVZ ratio chart (Gold versus Volatility).
In general, look for:
- a bullish Golden Cross to re-form on the 50/200 MAs,
- the RSI to remain above the 50.00 level,
- the MACD and PMO indicators to remain above Zero, and
- the price to hold above 100.00, then break and hold above the 120.00, 130.00, and 160.00 resistance levels, respectively,
And then...there's this little nugget hiding in the shadows...ready to create havoc in financial markets...
Central Banks increased their puchases of Gold...
It seems that one of the reasons behind the gold-buying spree is that this precious metal, supposedly, represents an alternative to the strong US Dollar in purchasing power, especially in the face of high inflation and a looming global recession...
For now, the US Dollar (DX) may be headed back to the rising channel's 'mean' and long-term price support at 100, as shown on the following monthly chart.
The channel's 'zone of resistance and support' is currently between 108 and 93.
A rally and hold above 108 may rapidly accelerate the pace of gold-buying, whereas a hold above 93 may simply continue to spur its acquisition. I expect that the Dollar will bounce around within that zone for awhile...two price levels to watch in the coming weeks and months.
So...$3,000 Gold in 2023?...
Saturday, December 03, 2022
* See UPDATES below...
As promised by Twitter's new private owner, Elon Musk, he's making public the massive suppression of free speech actions taken by former Twitter executives and employees on its social media platform in coordination, primarily, with Democrats and Joe Biden's presidential campaign staff.
The following tweets lay out Twitter's actions taken in the days leading up to the 2020 Presidential election...where information (first reported by Miranda Devine in the New York Post) was suppressed on its platform in connection with Hunter Biden's laptop.
Much more will be released over the coming days.
The Twitter Files Part One...
The following ZeroHedge article is also insightful on this matter and is worth a read.
The liberal mainstream media is reacting, as expected: truth deniers of documented evidence...otherwise, they've been silent, so far, including the New York Times.
More bombshells released in this New York Post article.
Another interesting take on the Twitter Files...
* UPDATE Dec. 5...
More nefarious activities revealed...involving the FBI and Twitter...
* UPDATE Dec. 6...
Which other nefarious 'leftovers' are still hiding out at Twitter?...🤔
Maybe the pace and fulsomeness of the Twitter Files releases will pick up, now that that's been resolved.
BUT WAIT...there's more than just the Twitter Files...
* UPDATE Dec. 8...
The Twitter Files Part Two...has now been released...more shocking revelations!...
* UPDATE Dec. 9...
The Twitter Files Part Three: The removal of former President Trump: Part One...PLUS other revelations involving government agencies...
WOW...truly shocking! Much worse than the public ever knew! 😯