- Details
GDX
On monthly chart cycles are 6, 12, and 84 months. The next bottom of 6 months cycle is in September of 2023. Since it is close to the end, I expect top of 36.23 not to be broken and it should decline towards 27.70 or whereabout.
On weekly chart cycles are 26 and 66 weeks. The bottom of the current 26 weeks cycle is the week of September 29th. Both cycles are in the second part. There was a strong reversal last week, but based on cycles I expect a trading range in the near future.
Daily cycles are 28, 56, and 112. We have just started 28 days cycle and the market went strongly up. But other cycles are pointing down and I don't expect a strong advance untill all the cycles bottom in August 17th.
- Details
GBTC
Monthly cycle is 15 months and we are currently in the 8th month. There is still time and potential to go higher. The market is in a strong uptrend.
On the weekly chart cycles are 24 and 72 weeks. Bitcoin is in the first half of both cycles. The bottom of 24 weeks cycle is the week of 11/17. There is a lot of time to go up further.
On daily chart cycles are 29 and 116. The both cycles started on 6/16 and there was a strong advance. The bottom of the 29 days cycle is 7/29.
Conclusion:
Only long trade is possible if market bottoms.
- Details
UGA
Monthly cycle is 16 months. Gasoline stuck in the trading range in a triangle. The bottom of the next cycle is April 2024. We are approavhing the middle. The market is boring.
The weekly cycles are 23 and 69 weeks. The market is in the 9th week of the cycle. It can still go higher. But it is in the trading range as well. 63.46 is all we should hope for.
The daily cycles are 17, 34, and 68 days. Market is in the 3rd part of 69 days cycle, but in the first part of 17 days cycle and 34 days cycle. It still have a potential to go higher.
Conclusion:
This is not a good market to trade.
- Details
TLT
On monthly chart the market is in a deep decline. It is in the middle of the 18th month cycle, but it stuck in a trading range and may turn down at any moment. I don't expect any significant advance before the end of the cycle in April 2024.
On the weekly chart the cycles are 21, 42, and 84 weeks. The market is in a trading range. The next bottom is near the week of August 11. There are no signals.
On daily chart Cycles are 60 days, divided into both 20 and 30 days. A cyclical bottom was 6/29. TLT made a low and now is going up. A situation is confusing.
Conclusion:
A long trade is possible if market bottoms, but it should be a short-term trade. Decline is not over.
- Details
INDA
On monthly chart cycles are 9, 18, and 36 months, The market is 4 months into all the cycles and advances. It is at resistance and may correct there, but the big trend should be up.
On weekly chart cycles are 13, 26, and 52 weeks. Everything is pointing up. Market ignored 13 weeks cycle and keeps going up. It is approaching the upper bands and may correct here, but overall the trend is strong.
On daily chart cycles are 13, 26, and 52 days. Market is at the upper band. The bottom of 13 days cycle is 7/25. But 52 days cycle is over the middle and it is going to slow down the advance. I expect mixed market next month with a new way of advance after mid-August.