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Market Commentary

Market Commentary: January 5, 2020

This issue reviews stocks (BIDU, Crispr Therapeutics, BIOS, EXSA, UXI), commodities (Platinum), currencies (Euro), and Bitcoin.

Contents

Stocks2-5
BIDU
CRSP
BIOS
UXI
EXSA
2
2
3
4
5
Commodities5
PLATINUM 5
Foreign Exchange 5
EURUSD 5
Cryptocurrencies 6
BTCUSD 6

Stocks

TickerSector
BIDUE-Commerce
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Possible bottom in BIDU. Currently reversing from a 9 year basing pattern with a daily breakout. Risk is just under the range low.


TickerSector
CRSPGenome Editing
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One of my favorite stories in the stock market right now is Crispr. The price action in the weekly chart of CRSP reflects that gene editing may have a bright future. CRSP has maintained strong momentum since the beginning of its IPO.


TickerSector
BIOSHealthcare
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The cycle of Option Health is turning up once again for the third time in 20 years. The short term price action (weekly) may indicate an imminent breakout. In general, I am very constructive on the Healthcare sector.


TickerSector
UXIIndustrial
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Industrial stocks have repeatedly performed very well after a 12 month base. The price action right now is VERY strong and presents a great opportunity in the next 12 months in XLI ETF.


TickerSector
EXSAEurope Index
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Euro 600 Index is on the verge of a 10 year breakout. 


Commodities

Commodity
Platinum
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The precious metals complex are all showing relative strength. As of recently platinum is under-performing gold and silver. I continue to believe platinum has potential to outperform both metals, but it is proving to be the more challenging trade of the three. Nevertheless, I still consider platinum good value.


Foreign Exchange

Currency
EURUSD

Click here to expand original analysis on Tradingview

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The Euro is still strong against the USD after retesting the recent trend line. 


Cryptocurrencies

Crypto
BTCUSD
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BTC is testing the .618% retracement level for the fourth week in a row. Structuring the stop just under the blue curve provides a good risk/reward. A bounce from here is likely to take BTC to the 8900 level next.


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