Daily Report 4/21/20

Gold has triggered daily sell signals. Our Artificial Intelligence Algorithm has higher prices into May but first Gold needs to recharge. We had decent drop overnight in part due to the deflationary scare of oil collapsing in price Monday and Tuesday. Shockwaves were sent across the entire commodity sector amongst both hard and soft commodities alike. We can bounce around for a few days but ultimately we should bottom next week then see our rally into May. We will be ready to buy this dip.

The Gold Miners have lagged Gold in a major way the last 6 months. If the stock market rallies into our April 27/28 date, it may drag the miners, which are all stocks, up with it. We would prefer to see the miners pullback into next week with Gold and bottom. Our next Gold trade in the coming days will be a levered mining ETF. Below see our sentiment indicator for Gold. It too is matching with our A.I., cycles and technical analysis for a choppy pullback into next week.

Our share market outlook has not changed and is following our projected path. A choppy rally into April 27th, followed by another multi-day pullback and ending with a large move up into mid-May before declining again into one of our strongest A.I. targets of early June.

Cheesecake Factory received a large cash investment from an institutional source in excess of 200 million. The smart money, our peers, sees the value in this battered sector and realizes it will be one of the first ones to bounce back in the coming days ahead. It's all about $10 for BLMN. We can break through this week so be ready. It held up well today with the Dow Jones shedding 600+ points. Our technical picture remains positive and the RSI is nowhere near over-bought.

Investors should avoid Oil until mid-May in our opinion. There will be a wave of defaults from energy trading firms and from mid-sized Oil companies in the weeks ahead.


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