August 2020

Hello and welcome to the August edition of the Safety in the Market Platinum Newsletter.

As I write this introduction, the E-Mini Nasdaq futures contract (EN-Spotv) is trading at a new All-Time High of over 11,700 points. Not only has the price exceeded the previous All-Time High from February (the top before THAT plunge), it is 20% higher than the February top and a staggering 76% higher than the March lows. Not a bad time to be long technology stocks! Contrast this with the SPI200 (API-Spotv), which has been stuck in a sideways range for some months now.

Despite the seemingly unstoppable rise to the upside, no move lasts forever. At the very least, I would argue that the Nasdaq is overbought, and I expect it to pull back in the not too distant future. In last week’s coaching programs, we analysed the price ranges using the Wheels Within Wheels spreadsheet from the Active Trader Program Online Training and found a number of key price milestones forming a cluster around this area. Those with the Master Forecasting Course might also like to consult their Road Maps and Boxes to see what clues they can offer regarding the current position of the market.

Moving on to the articles now, and this month, Gus takes you through Position of the Market on the Australian stock FMG. Then, Rob continues his excellent Tesla series while Aaron takes another look at the Copper market.

To say 2020 has been an interesting year would be an understatement! In times like this, it pays to stay on top of your analysis, so that you are ready before the market moves.

All the best!

FMG – As Good As Gold?

Last month I wrote about how adopting a consistent process with something as simple as keeping up a trading calendar could be one way to help stay on top of important dates over a few different markets when applying Gann’s techniques of balancing time.

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Seeking New Highs

Over the past year there have been a number of so-called market experts suggesting that Tesla stock is overpriced, that the fundamentals don’t line up and that the CEO, Elon Musk is not capable of being a trustworthy leader. All of these sorts of comments are noise in the market.

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High-Grade Update

Back in June, I reviewed the position of the Copper futures market. This has often been a “go-to” market for me over the years when primary markets are not behaving in the way I would wish. A quick glimpse of the Crude Oil chart will tell you why that market has been a low yield trading environment in the last few months.

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