I’m flying out of town for a wedding in a few hours, so I finished the Weekend Newsletter early. The alternate scenario still has life, but we need to see some downward progress next week. Silver is closest to breaking down, and it may bring gold and miners with it. The dollar is key. […]
Continue Reading →Prices shooting higher and then falling is a sign of distribution and selling into strength. This sometimes occurs before a price breakdown. Yesterday’s report cited a 70% chance of prices going lower into September. I would bump that number up to 76% today. I’m selling my short-term positions at these levels. If prices convince […]
Continue Reading →Another day of weakness in metals and miners. If gold is indeed forming a small bear flag, it should break lower by tomorrow or Monday. I’m assigning roughly 70% odds to the alternate scenario. If there isn’t a decisive breakout either higher or lower this lack of action could morph into a tedious sideways […]
Continue Reading →In the Weekend Newsletter I wrote, “If prices don’t show signs of a turn-around on Monday, I will sell my long positions or hedge my trades as I wait for clarity.” Prices are turning higher from the 10-day EMA keeping the bullish outlook. Nonetheless, I’m still on high alert after Friday and want to […]
Continue Reading →Prices are pulling back slightly as traders take profits and square positions before the Friday employment numbers. I’m expecting everything to hold above their 20-day averages (EMA’s) between now and Friday morning. Everything should turn higher for the remainder of August once the jobs numbers are behind us. -GDX- Prices may pullback a little […]
Continue Reading →There is further weakness in Gold, Silver, and Miners today revealing why they were unable to confirm lows last Friday. I expect the $1,300 level in gold to hold this week. Consecutive closes below $1,300 would suggest my cycle count is off, and I will need to adjust. I give that scenario low odds […]
Continue Reading →Gold prices corrected after being up for six straight weeks; prices should turn back up soon. Silver and Miners had mild corrections compared to gold but should also turn higher next week. We expect prices to climb for another week or two before dropping into the second common cycle low of the larger 6-Month […]
Continue Reading →Many things in life have a cyclical cadence to them. In nature, you will find that water has a cycle, a dominate nitrogen cycle, and even a carbon cycle. Economies unquestionably have a cyclical nature to them as well, fluctuating between periods of expansions and contraction. The business cycle is comprised of mechanisms such […]
Continue Reading →Gold prices corrected to the 20-day MA, and have satisfied my outline for a correction. Miners and silver are forming high-level consolidations, it doesn’t look like they will drop any lower. We should see prices start to move higher again shortly. -US DOLLAR- The dollar is still consolidating, but it’s now getting close […]
Continue Reading →GLD has touched the 20-day MA, and could find support here. I would be surprised if GLD drops below 124 during this correction. I think it’s safe to buy at these levels. In spot gold, I would grow concerned if prices fell below $1,310. I’m expecting 138+ in GLD later this summer with the […]
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