WEEKLY STOCK MARKET, BONDS & GOLD Review & Forecast, Monday, August 24, 2020

by birtanpublished on August 22, 2020

Truth is ever to be found in simplicity and not in the multiplicity and confusion of things sir isaac newton my friends we focus on simplicity we talk about it it is our motto simplicity

Simplicity simplicity we go over it every day if you deal with complicated charts that are difficult to make decisions when looking at when reviewing you are missing out on

So much of the wonderful things in life that's why i could never be a day trader trying to scrape up a few pennies a day sitting at those charts all day long trying to find complicated things occurring instead of

Following trends and of course our weekly vertical crossover is the king of all of the movements that we jump into when you see those weekly

Vertical crossovers on the charts we've had 13 of them this year 12 have worked 90 plus success rate with the weekly vertical crossovers the two-day recrosses are also potentially jumping

In points now again it can get more complicated with them the smaller the chart the smaller the wave the less likely things will move in your direction but the real sea changes occur when we see those weekly vertical

Crossovers fear and greed running through the market investor sentiment that's what they show you we have a great training for you today it is do what works we want you to have

It if you're a subscriber at chartingwealth.com you will get it it's free to subscribe go to chartingwealth.com sign up put in your name email address that list is never spammed

It is never sold it is just hours to share valuable information with you now let's jump into these charts thank you for all the book orders all the patreon support

What do we see going on we see everything up for the day but gold let's jump into the snp first up point five three five point three five percent for the day now when we look what do we see we see

A nice clean trend line that's moving up up up that's beautiful price percent oscillator moving up derivative oscillator gaining upward momentum higher high candle body is higher

Than the prior week that's great two-day chart this is where we see some problem occurring now we had something like that happen before where basically the market had

Gone up digested its gains and then rolled then continued back in the same direction the weekly is still strong today showing weakness sideways slide on the price percent oscillator derivative

Oscillator into its third devolvement candle on the derivative oscillator we have a red open box spinning top now that's not a down candle but it's a slow down and shows

Indecision we do have a warning bell where we have lost the to now again we can even if we try to redraw that a little bit using the latest strong up

Candle still are just not capturing that we're seeing where prices moved there just on a little bit below the two day trend line so we are having some loss

There we'll continue to watch and see it was up for the day but again we're showing some weakness so you just pay attention to that pay particular attention if you're in this trade with that two day re-cross

Jumping in point somewhere around the 320 650 mark how high has it gone up to 339.72 yes that's the highest 339.72 that's nice look how close the two day is to crossing over you see that two-day

Crossover going down might be a good point for you to pull if you're still violating the two-day trend line you're still going to be well above the weekly you don't have to wait for it to drop in order to take it particularly

Since you're in a two day recross not as strong as a weekly vertical crossover what do we see on the four i will the half day 195 minute chart still negative price percent oscillator

Flat and negative derivative oscillator negative losing downward momentum but again we see for the last day and a half up movement actually moving up that two day trend line

That's good so again if you start seeing devolution in the price as far as where things are going on the two day trend line reverting back to the half day trend line that's another warning

Sign you're to be noting these things practicing practicing these things learning from them making sure you're taking the lessons that you learn to heart

If you don't write it down it didn't happen it's my it might as well not have happened very important to write stuff down and learn from it that's why you keep a notebook beside you when you

Listen to these daily reviews and this the weekly review and forecast you fill out your weekly market worksheet every day your daily worksheet and your trade worksheet when you're in a trade why

Because that gives you the ability to follow pearson's law like our training yesterday said that you will see gains when you write things down you'll see exponential gains when you write them

Down and report them that is you go over them and study them you want to supercharge your training fill out those trade worksheets daily market worksheets weekly market worksheets you might say where are they

They're in your show notes every single day whether you're listening to the podcast you're getting the email you're looking at us on youtube and please subscribe there

Also if you're listening to us watching us on youtube subscribe there you'll see in the show notes printable pdfs and you can print out your own daily market in weekly market and trade

Worksheets now let's move from the s p to the q q that's the nasdaq 100 the tech stocks what do we see going on there well let's adjust if we can our weekly trend line

A little bit we're close to connecting three candles there getting closer now that that's in it we see the price percent oscillator actually moving up at a little steeper angle that's good derivative oscillator

Gaining some momentum from this week up one point i'm sorry point six nine percent for the day look at this latest two day candle higher high nice green up candle higher the box

Higher than the prior and we told you to watch for it we told you to watch for it what do you see happening you have a two-day recross which we have already drawn in there for

You did you jump in at the end of the day somewhere around the 278 mark something like that did you jump in on that two day recross you didn't have to just suggested you might want to look at

It since the weekly still going up we talked about checking it out toward the end of the day who did it are you using your trade worksheet putting down your thoughts learning from it i hope so

So we see the two-day chart moving up two-day recross derivative oscillator gaining upward momentum what do we see on the half day chart we see it again pulling away from the red signal line derivative oscillator gaining a little

Bit of momentum and we see a higher high candle higher and the wick higher good to see we'll monitor the nasdaq 100 see what it does for you over the course of the next next week

Are you drawing in your profit and loss bands keeping up with that in case it doesn't go the direction you want it to go in so you can pull the trade and minimize losses i hope so i hope so

Now let's go to 20-year bonds up for the day 0.60 now we see the price percent oscillator losing some of that downward momentum derivative oscillator has gone negative on the weekly chart second week

Of down movement but look we haven't reached a lower low at this point but price percent oscillator still moving down pairing off some of that downward

Movement derivative oscillator gone negative so keep that in mind as you look at the two day chart where the price percent oscillator is going flat still heading down a little bit but flattening out

Derivative oscillator has stopped its downward movement looks like it pulled back a little bit we have a green candle that has formed a green up candle after a slow down in the down movement piercing the two day trend

Line now remember we had that two day crossover that jumped us in so be very careful again two day crossover recross is not as good as our weekly vertical crossover so

Again keep your eye on that you can take your profit when it makes sense if you have not already you've done okay at this point just

Watch look at the four hour chart we've got an uptrend there since it crossed over going up back on the morning of the 20th that was on a thursday so you've got two days of up

Movement keep your eye on that you can still be in just be careful and learn from this when you see a piercing of the two day trend line what does that tell you in down moves

Are you keeping up with those lessons i hope so now we're going to move to our last chart that is gold down for the day point eight zero percent what's going on with

Gold when we look at the weekly chart remember we had that weekly vertical crossover all the way back on the first week in july the week ending then lee it ended early

Because of the fourth of july weekend we had had green up candles all the way until we had a slow down at the end of last week the 14th of october of august

Sorry almost went ahead there into the future what do we see going on at the end of this week we have a red spinning well we almost have a doji and it's a solid

One as opposed to an open box we do have a wick on top and a wick on the bottom but again we see devolving of the price percent oscillator and the derivative oscillator

Going into it passing through its second week of down movement now we leave the weekly which is still positive go to the two day we had that two day crossover going down

Which of course if you were still in gold should have pulled you out if you hadn't already gotten out after your two day trend line was violated along with your weekly

We're redrawing that trend line now or trying to do so and again we'll continue to monitor gold and see which way it goes what does this give you an opportunity to do with that two day crossover going down

Maybe we'll have a read cross in the future once gold settles out perhaps it'll pop up again and give you another jumping end point for a nice play let's look at the half day chart

We see the price percent oscillator still going down derivative oscillator gaining downward momentum and again we can try it's oh no i just messed up that line try there we go trying to find our for

Our we're going to redraw that a little bit see how many again we like to connect three candles if we can now i'm going to have to go back i grab

The wrong line there we're going to readjust that make sure that's how easy it is if you do happen to make a mistake for those of you who are listening and not watching i pulled the wrong trend

Line away well i just redrew it so again we'll keep our eye on gold and we'll see what's happening see if we have a recross on that two day anytime in the near future if not at some point it will pull the weekly

Over but folks that's where we are as we end the day just for the bitcoin fanatics out there we hadn't looked at bitcoin in a couple of days let's check it out down for the day 0.95

But look at the week it went higher it's a smaller candle than we've seen in the last four weeks but bitcoin did hit a higher high price percent oscillator still positive losing a little bit of momentum but

Still going up quite nicely derivative oscillator gaining upward momentum two day chart we can see where this latest is the first red down candle well we saw one three weeks ago

But it was just a little short one for a while and then things went up the following two weeks check this one out i don't have a crossover yet on the two day that would definitely pull you out derivative oscillators been losing

Momentum since the seventh the week ending the or i'm sorry the two day candle ending the seventh of august so keep your eye on things watch

To see if that two-day chart continues to lose momentum on you what do we see on the half day well it peaked back on the 17th of august and has really just been trending

Down since then so keep your eye on things over the course of this next week particularly that two day chart see if it continues to weaken or starts moving up again and if you

Might have a crossover going up on that half day chart that might give you some more hope folks that's where we are as we end the day as we end the week and if you want to get the special

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