#Nasdaq #NK200 Batman sprung to mind when working on this one. Actually, not Batman but instead, the depths TV companies go to milk a franchise. We had “Batman”, we had “Gotham” (the Bats early years) and now, digging really deep, they came up with “Pennyworth”, Batmans butler’ early life. Expecting drenched in drivel, it turned out to be a pretty good, violent, non superhero, subversive, alternate England in the ’60’s onwards. Paloma Faith stars, bringing an unrelenting presence, reminding of the infamous Myra Hindley photograph. (okay, someone here binged on 5 hours of telly during last weekend) It is emphatically not for children!
It appears sometimes when you dig deep, you can find a gem!
I’m not so sure about the Mining Sectors prospects but it appears ready to dig deeper than TV producers go. This presents a fairly big issue as we’re already showing The Banking Sector as dangerous, Oil & Gas as dangerous, and now the Mining sector is dangerous. It’s almost as if alarm bells are ringing, warning of imminent stock market reversals as we’re concerned at the plethora of dangers queuing up.
For The Mining Sector, it is presently trading around 17,385 points, below the uptrend since 2016. This results in the expectation of traffic below 17,350 looking capable of reversal down to 17,060 and the probability of a short lived bounce. Our secondary, if such a level breaks on an initial dip, is at 15,618 along with a real bounce, hopefully. Serious danger awaits should the market actually close below this point as severe reversal down to the 12,100 level calculates as very probable. The implication behind this is fairly straightforward. If stalking a Major Miner due to their attractive share price, it shall prove wise to glance at the ruling sector (NMW1770) and check its position. Something which looks like a bargain could easily bury investors fairly quickly.
To consign this scenario to the tailings pile of analysis, the Mining Index needs better 18,220 points as this should make Major Miners attractive again, due to the potentials of a sharp lift to 19,322 and relative safety for the sector.
For now, confidence is lacking.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
10:34:04PM |
BRENT |
59.82 | |||||||||
|
10:56:35PM |
GOLD |
1507.98 | |||||||||
|
10:58:36PM |
FTSE |
7100.16 |
‘cess | ||||||||
|
11:00:35PM |
FRANCE |
5332 |
Shambles | ||||||||
|
11:02:37PM |
GERMANY |
11608 |
Shambles | ||||||||
|
11:05:49PM |
US500 |
2894.77 | |||||||||
|
11:08:53PM |
DOW |
25911 |
‘cess | ||||||||
|
11:18:12PM |
NASDAQ |
7659 |
7642 |
7630.5 |
7593 |
7693 |
7702 |
7718.5 |
7744 |
7659 | |
|
11:19:52PM |
JAPAN |
20501 |
20468 |
20430 |
20338 |
20593 |
20593 |
20631 |
20685 |
20485 |