SPX and DOW should play catch up to the NDX on this next move up, and keep pace or even outperform the NDX into month end. We are bullish into Thursday. New post recovery highs for the SPX are still expected.
GDX did not break support, so we have a bounce. We took a small 4.3% profit, but will re-short the miners via DUST very soon.
Gold may make a higher high over the next two days. We have July 16th as a date of interest for a reversal. After that we are watching July 24th. We have certainty that late July into early August is bearish for metals.
We have a small profit in our crude position and are waiting for the next multi-day spike to harvest profit. We should see it start over the next few days.
Earnings come out in early August, but we doubt we will stay long into that date. CLF mines the iron ore used to make steel, so it's getting a bigger boost than most steel companies because of the skyrocketing price of iron ore. We will see how quickly it advances the next few days. This move will tell us the true strength of the rally and what to expect for a top in the coming weeks.
SPCE is very volatile. To trigger our next advance, we need a close over $20. We expect price to trend upward throughout the summer. The stock is gaining cult status like Tesla in the early days.
At some point in the near future, the restaurant sector will ignite. Money will rotate as funds look for value in sectors that have not moved yet and caught up to the broad market. Perhaps an effective treatment recognized by the CDC could be the spark we need.
Taiwan has 25 million people living on top of each other on a tiny island and has had only 7 Covid deaths since January 2020. Click on the link to see the treatment that has been used since day one on the small island. It is catching fire now in the USA and has started spreading through the US media. We expect to see more of a push to use it here. For those who won't watch, it’s a 20-year-old asthma prevention drug taken by inhaler or nebulizer for minimal cost. It has done the trick for Japan as well. It treats the most deadly aspects of the Covid attack on the lungs. This short video shows a respected Texas doctor who has used the drug since March 1st in the US and has not lost one patient. Worth a watch to protect yourself and loved ones.
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