MAJORS:
DOW and XEC both look strong. Our large index XJO put on a great move but now is stretched and see how it pullsback. The strength of the index's hasn't really translated into the micro end, mainly due to the liquidity drying up during this period. However today was an exception, did notice significant liquidity moving back into the markets - is it a one off or start of a turn here is the question.
DOW:
Some very nice consol happening on back off recent strength. I wouldn't mind see it pullback into interim support 24,000's region (yellow box).
XJO: Will be watching for pullback into yellow region
XEC: Nice little pivot here, lets see if it can push a break of DTP next week.
LITHIUM:
ETF beginning to look strong. Couple main names basing out AGY in particular and also AJM, NMT. Some other majors showing strength too.
ETF: Strong recovery shown from lows. Once again, this strength might take a while to translate into smaller players in our space.
Some charts that showed strength yesterday;
GXY copped supply today will need to sort itself out. TAW and PLS just need to tighten up a little.
BIOTECH:
Still seems to be bucking against the general liquidity trend. ANP, POH both gaining significant move today, IMU star performer (Streteched here). TLX, IMM, PTX also gaining some recent love. OMT also a tech shell that did an acquisition in medical imaging space. Seems quite decent, 42% CAGR over 5years on revenue growth from $1M -> $4M+ P.A. Downside is the large dilution for the vend.
OIL:
Saw money flow down last two weeks into specs and smaller/medium players. Has made a massive move, and stretched. But the trend is well in tact.
Main talk recently was Trump pulling out of Iran deal, means sanctioning Iran's biggest export market which is Oil - supply constraint. I'd speculate this attributed to that late rally upwards.
Also means Iran will be incentivized to re-open Uranium plants, although I doubt they'll consider this until the entire Uranium deal falls apart rather than U.S pulling out.
COAL:
Thermal prices have shot, coal index also up. I'm not sure what drove this move fundamentally but plenty of names going vertical WHC, TER for example. PAK also has put decent gains and the only one that hasn't gone mad exponential. AKM has been the best performer making 100% in 2weeks.
COBALT:
Elons comment seems to be having no influence on cobalt, markets well aware years of R&D needed before they move to NCA/M batteries.
Forecasts ame out of demand of cobalt to jump a further 40-50% this coming year.
Of majors are showing small bits of life CLQ 30%+ in last 2 weeks. COB and CLA trying to hold onto gains of their moves in April. JRV also trying to form a base might take a while.
Exceptions are AML and WFE (Disc: I hold) both holding up nicely at highs.
AOA also got Broken Hill prospects granted and gained quite a bit of volume today.
BLOCKCHAIN:
For me personally worst performing sector in my portfolio right now. VPC I let go of at a nice 38% loss, merchant backed blockchain shell.
SRO I still hold back at my original entry price.
GDPR rules coming in next week, Zuckerberg also finished testifying in congress and has agreed to testify in E.U Parliament now, hopefully will bring some interest back in SRO.
TTL dream team shell I also hold, I just played all around this one. Got a good entry at 3cents, watched it almost double and didnt sell a thing. Now TTL back to 10% loss.
Both SRO and TTL clean and very cheap tech shells so I'll wait and let them play out longer.
BTC chart nearing support worth watching for a reversal.
GOLD:
I couldn't have jinxed it any better, made a post on it being a potential emerging sector and next two days spot got smashed lol. SAR, SBM held up okay until todays action looks like they'll go for a PB. RRL worst off from todays action.
Gold was hit on the back of retail purchases data pushed expectations for interest rate speculations which in turn pushed bond yields.
On the upside, VEC and MNC (Disc: I hold both) held gains up. MNC doing an epic churn this week of loose shares which I was happy to see.
Gold now sitting on trendline, see if it can reverse next week.
Have a good weekend all I'm back off to my cave lols.
(20min delay)