GateUser-3b3659cc

$AMD - Made a new all time high this week. The next upside target is the 1st yearly resistance at $295.

$USOIL - Closed the week below the 10 week MA confirming that it made an intermediate term top in early March. Crude oil prices are likely to remain elevated(above $80) as long as the conflict with Iran isn't solved.

$Silver - So far it has retraced 0.618 of the March decline. The bounce out of the March low is likely to continue next week and maybe reach the 0.786 retracement at 88.84 by late April.

$Gold - I'm looking for the bounce out of the March low to continue next week. The minimal upside target remains the 0.618 retracement of the downtrend at 5028.

Spoiler: Trump won't drop any more bombs again.

$SPX - The breakout continued with the 12th up day in the last 13 days and a new high of 7147. The 2nd monthly resistance is 7166, so as long as it doesn't close above 7166, we may get a pullback next week. It is possible that the previous ATH(6978-7000) will become support now.

This is interesting because the May 14-June 8, 2020 rally has a few similarities to this rally. It rallied 14.6% in 17 trading days vs. 12.5% in 13 trading days so far. In 2020 there were 4 gaps vs. 3 gaps in this rally. Then it had a 3 day 7% selloff.

$BTC will close above its 100 day MA for the 1st time since October. Does it mean the bear market is over? Not in my view. In the 2022 bear market it had a 2 month bounce that topped just below the 200 DMA. Therefore, the next target is the 200 day MA that's currently ~87K.

This guy is a retard. He claims the Nasdaq has never had a 13 day up streak. When someone replies that he's wrong and shows examples of longer streaks, he's using a false AI reply to prove his point. How hard it is to open a chart and verify it yourself?

$SMH - Last week it closed above the 1st yearly resistance, so it was natural for the rally to continue this week. The target for the next intermediate term top is the 2nd yearly resistance at $507.

12 months later it was up 100% of the time, but this is a mid term election year so pay attention to the 18% drawdown in July-September 1986 and the 33% drawdown in July-October 1990. We have not reached Q3 of this mid term election year yet.

The court jester.

$SPX - Closed above 7000 for the 1st time. Now that it has made a new ATH we can put aside Fib retracements and focus on Fib extensions instead. The 1.618 extension of the January 28 - March 30 downtrend is 7425. We may not reach it in April but that's where it's probably headed.

The record number of consecutive up days was the May 1990 case. It reached 19 days in a row on May 24 1990. The 14 day RSI reached 85. For comparison, the current 14 day RSI is only at 69.

$SPX - Almost made a new ATH on a closing basis. Today's close is 6967.39. The January 27 ATH is 6978.59. It will probably make a new ATH in April but it's unlikely to happen without a pullback first. The target for a pullback could be the 78.6% ret. level at 6855.