When I look at precious metals, I see the potential for a decisive breakout starting any day. One potential trigger could be a UAW strike, which could tip the economy into recession. If the Fed surprises markets and hikes in September or November, we could get one final flush out in […]
Continue Reading →We should know within the next few trading days if gold intends to breakout above $2080 and rally to new all-time highs. I’ll be watching gold miners closely for clues. Below are my current thoughts on GDX. -GDX- The top panel shows MFI is near-term overbought (blue arrows). A […]
Continue Reading →Silicon Valley Bank (SVB) collapsed after experiencing an old-fashioned bank run. It started Wednesday when the bank tried to raise $2.25 billion in equity to shore up its balance sheet. Customers panicked and withdrew a staggering $42 billion – making them insolvent. The FDIC took over operations Friday, and SVB became the second-largest […]
Continue Reading →At the beginning of the year, I like to review my 10-year strategy. I believe the 2020s will be great for commodities and not so good for the stock market. Best Performing Assets Each decade has its investment theme and a best-performing asset. The asset that did best in the last […]
Continue Reading →I noticed something in the bitcoin chart I wanted to share. If the pattern repeats, we could see another big drop in bitcoin soon. BITCOIN CORRELATION: Prices broke critical support after the Terra Luna collapse and consolidated for 30 days before entering a true capitulation. I see a similar setup after the FTX […]
Continue Reading →Tesla Price on the Verge of Collapse? The price chart of Tesla is on the edge of a cliff. Twitter haters may use TSLA shares as a bearish Proxy since they can no longer short the stock. Breaking below the 2021 lows could trigger a cascading decline. Tesla Price Chart Below is the […]
Continue Reading →Today is election day in the US, so it’s best to take daily fluctuations with a pinch of skepticism. Nevertheless, if today’s upside follow-through holds, I’d consider it very bullish for precious metals. -GDX- Gold miners are breaking out above the short-term trendline over significant dollar weakness. As I write, gold futures are […]
Continue Reading →Headline CPI for August was just 0.1% sending the year-over-year rate to 8.3% from 8.5% in July. The Core measure of CPI disappointed to the upside, rising 0.6% in August versus the expected 0.3%. The year-over-year Core number increased to 6.3% from 5.9%, which is a significant problem for the Fed. The odds […]
Continue Reading →With gold futures slipping to $1725, it’s time to revisit the cycle count and potential scenarios for September. GOLD CYCLE: Gold has been forming cycle lows every 40 to 44-trading days (blue arrows). What do all these lows have in common? Fed rate hikes. The next low should arrive around September 14 […]
Continue Reading →One of the benefits of being in the markets as long as I have is the feeling of familiarity during various cycle phases. The current rout in precious metals has been swift, deep, and relentless. The last time I felt this was in 2018 when prices continued persistently lower despite steller fundamentals and deeply […]
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