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Jonathan Cho's  Instablog

Jonathan Cho
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Independent trader currently seeking work as an analyst or trader with a hedge fund.
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  • US Equities Topping Out

    US Equities appear to be putting in a long-term top. This is evident if we look at the monthly FTSE100 (NYSEARCA:VGK) chart, which US equities correlate with, and the US Materials Select Sector (NYSEARCA:XLB), which is a component index of the SP500 (NYSEARCA:SPY). Both are at monthly timeframe long-term resistance. After that, look at the Dow (NYSEARCA:DIA) correlation from the current Dow, to the Dow from 1928-1930.

    FTSE100

    (click to enlarge)

    US Materials Select Sector

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    Dow Correlations

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    Jan 28 1:05 AM | Link | Comment!
  • AUD/NZD At Multi-Decade Lows -- Strong Buy Here

    AUD/NZD is at multi-year, and multi-decade support. It's a strong buy in the 1.05s for a multi-year long. The chart below goes back to 1980.

    (click to enlarge)

    Jan 28 1:05 AM | Link | Comment!
  • Precious Metals Have Long-Term Bottomed

    I think precious metals (GLD, SLV, GDX, GDXJ, SIL) have bottomed. Precious metals mining stock indices have all hit major long-term, multi-year support at the same time, while US equities appear to be topping out, and other commodities and Asian equities seem to be bottoming.

    Daily Gold Chart

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    HUI Gold Miners Index

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    XAU Gold Miners Index

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    GDX Gold Miners ETF

    (click to enlarge)

    Jan 28 1:05 AM | Link | Comment!
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