Several markets could be at significant turning points. The stock market (SPY) is pulling back, and I see the potential for a bull trap top and an intermediate-term decline. If established, that could trigger an accelerated breakdown similar to February if key levels begin to fail. Supporting this breakdown potential is the head and […]
Continue Reading →For some time I’ve expected 2018 to be gold’s breakout year. Although it is still possible, the odds have declined severely. So what happened? Well, many factors influence the price of gold – interest rates, inflation expectations, currencies wars, monetary policy, stock markets trends, investment demand and consumer sentiment to name a few. Right […]
Continue Reading →The dollar is above the key 95.00 level, and a cycle low is likely. However, it will take a few more trading days before a bottom is confirmed. Gold is trading below the morning low (currently $1204.8). Prices will probably close above $1200, but the overall price action looks frail. -GDX- Miners continue to […]
Continue Reading →It looks like miners are rolling over after 11:00 AM. I’m going to increase my exposure to JDST and DLSV at this time. -JDST- It looks like miners are rolling over after 11:00 AM. I’m increasing my JDST holdings by 25%. -DSLV- I’m increasing my DSLV holdings by 25%.
Continue Reading →Consumer sentiment dropped to a 7-month low, but it came in above estimates. Gold and the Dollar continue in their sideways consolidations that began Tuesday. Neither has done enough to confirm or deny a breakdown. -GDX- I’m curious if this bear flag is a little too obvious. It seems like the perfect setup for […]
Continue Reading →Gold rallied overnight to $1214.90. It needs to get above $1215 to support another attack on $1220. Prices are pulling back and trading near $1208.50 as I write. Gold needs to hold $1206 and turn higher in the coming hours to support another advance. Below $1204 and the short-term pattern will likely break lower. […]
Continue Reading →The stalemate between gold and the dollar continues. The dollar failed to rally above yesterday’s highs and prices settled below the cycle trendline. Conversely, gold’s short-term pattern can still be viewed as corrective if the $1200 area holds. Miners tested but held their lower bear flag boundaries. However, the path of least resistance is […]
Continue Reading →The Dollar is bouncing, but it hasn’t done enough to support a cycle low. So technically, this could be just a 1-3 day rebound. -DOLLAR (4-HOUR) CHART- I’m skeptical about a cycle low in the Dollar until prices close decisively above the green trendline. -GDX- Miners are poised to close below the $18.80 level […]
Continue Reading →The dollar rallied sharply between 9:00 – 9:30 AM. Prices reached the 94.90 level. The morning push broke above the 14-day cycle trendline. However, prices would have to close above 94.94 (currently 94.77) on a daily basis to support a new cycle advance. Gold declined from $1212.80 to $1202.10 as the dollar rallied. Prices […]
Continue Reading →I think it will be a decisive day in gold and the dollar. The dollar (currently 94.61) needs to break above 94.95 and 95.10 to support a cycle low. Whereas breaking below 94.42 would recommend a decline to 93.75 or even 93.00 in the coming days. Gold (December) slipped a little overnight (currently $1208), […]
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