Happy post midterms! ☕️

Super clean signal on EdgeFinder. Russell is flying! 📈

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We are cooking now! 🚀

Small caps loving the fall in yields, and reasonably strong economic growth metrics we've been seeing.

All signals being shared here

Gold sells setting up?

I think we have a bit more room to squeeze higher, following the midterm election bump we're seeing.

However...

EdgeFinder bearish reading is heating up, and technicals are closing in on some major resistance in what is still a higher timeframe downtrend.

Any updates will be shared with members here

- Nick

Check this out...

Pretty solid bearish reading forming in EdgeFinder.

I'm just waiting for technicals to align

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Gold Is Ripppping Today, But The Macro Tells Another Story

The spark was the dollar, which sank after the midterms handed Democrats both chambers and the market began pricing a more gridlocked Washington.

What makes me cautious is the backdrop. A move this size wants the macro behind it, and right now it leans the other way. Growth came in hot with GDP at 3.4%, the PMIs are expanding, retail sales and confidence beat, and inflation is sticky with CPI at 3.7% and PPI above 6%.

That is not what lets the Fed ease. The market still prices about an 83% chance of a December hike, and gold positioning is heavily long and crowded, the kind of setup that unwinds fast when data pushes back.

Markets seem to be holding on to the "What If" Washington haults the Iran war, but we've seen nothing tangible yet... Friday’s jobs number is next in focus. A strong print there and this pop runs straight into a wall.

read the full article here.

— Alan

Oil Daily Chart

Oversold? Probably not.. I still hold my bearish thesis on Oil.

Though the technical criteria has changed a bit. I believe at this point, waiting for a revisit to $105 is a bit of a stretch. At this point I'm waiting for a pullback to key fib levels or a break and retest below the 200 Day SMA. Preferably the pullback.

I'm prioritizing patience because the war is not over yet, and markets are trading on "hopium" right now.

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— Alan