So can we chart our own path or follow U macro?.Yes, a slight...

So can we chart our own path or follow U macro?

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Yes, a slight drop on the weekly, from 533 to 505, touching 499. From a volume perspective, no clear direction, in fact lower average volumes.

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So what is happening here? I feel we are playing U macro. I had written how CCJ is in a precarious position. Has it made it lows for this phase, or will it go to 45? We don't know. But if it does go to 45, it will drag down the sector, and maybe SLX. But CCJ still above 50, so crucial play coming up tonight.
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So what are the numbers I would like to play? For anything positive, I would be happy to buy here. Its close to 25%. Most other U stocks, though, I am looking for a drop around at least 30 to 40%. And many big stocks which made huge gains, have actually dropped this range. For SLX it may be around 450 - if, and only if CCJ drops to 45. We have a long way to go, so lets see.

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So what may happen next week? Next couple of weeks is important. Based on my trading pattern, CCJ may make its low towards the end of month. But that is only if current 48 low was not its low. If that was the low, then happy times. But I have a feel, there will be a test, of CCJ 45, SLX 450. I hope I am wrong. General markets in very precarious situation. Bitcoin is at 54k, has lost nearly 30% from its recent high. Signalling markets may have a correction,, something to keep an eye on, as Bitcoin has always pre-led the markets. So lets see. Medium to long term, I still feel most U stocks may do well, but for short term - there may be a test. Lets hope its just a test. All the best.