Category: Free Updates

WEEKEND NEWSLETTER 12/02/2018

Sun, 2 Dec 2018

  It looks like commodities, measured by the CRB are descending into multi-year lows. If I’m correct about oil, we should see a significant bottom in the first quarter (Q1) of 2019. Precious metals typically bottom before oil and the CRB. I think gold will bottom in December – January at the latest. The indecision […]

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WEEKEND NEWSLETTER (OIL INSIGHTS) 11/23/2018

Fri, 23 Nov 2018

  There are many calls for a new bear market in stocks; I don’t see it just yet. In my opinion, several pieces of the recession puzzle remain missing. Nevertheless, the bearish talk caused me to go back and reevaluate the charts for clues…and I uncovered an interesting observation in the oil market. Higher oil […]

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WEEKEND NEWSLETTER 11/11/2018

Sun, 11 Nov 2018

  I’m going to start by revisiting the University of Michigan consumer sentiment numbers. There’s a lot to digest in the first chart, but if you study it, I think you’ll see the powerful inverse correlation with gold. Next week should be interesting. Monday and Tuesday will set the tone for the week. I’ll post […]

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CLOSING UPDATE 3:43 PM

Fri, 9 Nov 2018

  Little changed from the previous update. Gold, Silver, and GDXJ all broke their October 31st pivot lows, GDX hasn’t. The setup for a sharp 3-5 day decline remains. However, if it’s going to happen, it should occur relatively soon. Like I said, maybe gold needs to fall below $1200 before we see a significant […]

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MORNING UPDATE 11:05 AM

Fri, 9 Nov 2018

  We are getting some downside price action in metals and miners today. I’m pretty confident this is the beginning of the November decline that should lead to a December bottom. At the moment, I do not see the sharp down swing in miners I felt was possible. That may change later today or on […]

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MORNING NOTE 8:50 AM

Fri, 9 Nov 2018

  We are getting some downside follow-through after yesterdays Fed announcement. Gold (December) is below the $1213 low set last week. Silver is back below the $14.25 level. I imagine we will see miners gap lower at the open. If this is the collapse described in the GDX bull trap update, then we should see […]

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THURSDAY REPORT 11/08/2018

Thu, 8 Nov 2018

  The seasonal pattern in gold supports an October high, a November decline, and a December Bottom. It looks like we got the October high at $1246. Next, we should see a November decline. I figured Tuesday’s elections or today’s Fed statement could trigger a potential selloff. If prices aren’t heading lower tomorrow, then we […]

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AFTERNOON UPDATE 3:35 PM

Thu, 8 Nov 2018

  Gold fell below $1223 (currently $1222), and prices appear to be slipping after today’s Fed announcement. The next vital levels reside at $1218 and $1212. -GDX- If we are going to see a November breakdown, it should begin soon. If prices aren’t heading decisively lower by tomorrow or Monday, then we could be stuck […]

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POST-FED NOTE 2:15 PM

Thu, 8 Nov 2018

  There was very little change in the Fed statement. A hike is expected in December and more in 2019. Gold initially spiked higher – then lower, and prices are back to where they started (currently $1225). Gold would have to drop below $1223 and then $1218 to support a near-term breakdown. Rallying above $1230 […]

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PRE-FED UPDATE 1:30 PM

Thu, 8 Nov 2018

  Metals and miners are bouncing into the 2:00 PM Fed announcement. The setup for a November breakdown appears valid, but maybe I was tricked again. Let’s see what prices do after 2:00 PM. -GDXJ- Miners are bouncing a little going into the 2:00 PM Fed announcement. Let’s see how prices close. If prices continue […]

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