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 […]
Continue Reading →The annual inflation rate rose to 9.1%, surpassing the 8.8% estimate. The odds for a 1.00% hike on July 27th have risen to 48.7% from 9.4% yesterday. -GDX- Miners are forming a bullish engulfing candle after closing the gap at $26.00. It’s still early, but a close above $27.00 would be encouraging. […]
Continue Reading →-DOW- With Tesla finally cracking, I think we could now see an extremely sharp selloff. How prices close today could paint a picture for next week. Note- Metals and miners could get dragged lower with the markets. I would view that as temporary and a long-term buying opportunity.
Continue Reading →The meltdown in crypto is getting worse, and Tether is beginning to lose its peg to 1.00. Tether is the third-largest cryptocurrency and has a market cap near $80-billion. There has been a lot of speculation that Tether is a fraud or a Ponzi scheme. I’ve studied it, and agree […]
Continue Reading →The Federal Reserve hiked rates 50 basis points on Wednesday, raising the Fed funds to 0.75% and 1.00%. Powell took the potential for a 0.75% hike off the table and implied back-to-back 0.50% hikes in June and July. Markets reacted higher initially but rolled over quickly on Thursday and into Friday. There is a […]
Continue Reading →Market Update – Shouldn’t Global Stock Markets Be Crashing? The move into risk assets over the last few weeks has been surprising. We were due for an oversold bounce in stocks and bitcoin, but this seems excessive. Are we about to see a rug pull? Why is gold down while stocks are rallying? […]
Continue Reading →Sometimes, I fear my obsession with Tesla prices collapsing borders on the unhealthy side. I’ve gotten to the point where I’m timing the rebounds of Amazon post the 1999 tech bubble. POST TECH BUBBLE AMAZON COLLAPSE: In the first quarter of 2000, Amazon shares declined into late January, bounced into early February, […]
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