Category: Free Updates

MINING UPDATE 11:15 AM

Thu, 20 Dec 2018

  Here’s another example of a massive reversal day like we had in miners yesterday. Prices bounced the following day but quickly turned back lower. I expect the same result this time. Miners would have to close above yesterday’s $21.47 high to unwind the bearish reversal. Yesterday’s reversal dwarfs the one from January in both […]

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JDST STOP UPDATE

Thu, 20 Dec 2018

  Change of plans. I’m lowering my stop on JDST to below yesterday’s $52.53 low. I’m tired of this market bullying investors, and I’m willing to risk a lower stop.

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MORNING NOTE

Thu, 20 Dec 2018

  Markets reversed somewhat overnight, and it looks like the dollar is breaking down. Gold is back above the Fed announcement level, and prices look poised to exceed yesterday’s high ($1,262.20). Remember, key resistance continues between $1266 – $1270. It would take a weekly close above $1270 to support a year-end run to $1300 – […]

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CLOSING REPORT 12/19/2018

Wed, 19 Dec 2018

  It took some time to get the answers, but it looks like metals and miners just peaked. The Fed was not as dovish as they sounded back in November. Miners surged into resistance and reversed suddenly. GDX nearly nailed the ABC target on the head. The huge post-Fed selling in miners typically registers a […]

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LOOKS LIKE A TOP 3:00 PM

Wed, 19 Dec 2018

  -GDX- Prices are overbought, at multiple resistance levels and reversing. The conventional signs point to a top. If confirmed, I’ll expect a decline to fresh lows and a sustainable bottom in early 2019. -GDXJ- This should end the ABC flat correction. If true, then I’ll expect better prices early next year. Markets have been […]

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HAWKISH FED 2:09 PM

Wed, 19 Dec 2018

  I think the Fed was more hawkish than most expected. They hiked rates 0.25% and see two additional hikes next year (instead of three). They lowered their neutral target from 3% to 2.8%. Their goal is to run one hike above neutral and stop in 2019. This news should be bearish for precious metals […]

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PRE-FED NOTE 1:20 PM

Wed, 19 Dec 2018

  Miners continue to selloff, and the ABC correction appears complete. Of course, it’s too soon to know for sure. To restore the bullish posture – miners would have to reverse course after the Fed announcement and close above today’s high $21.47. The Fed announces at 2:00, I’ll post again around 2:20 PM (EST).   

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GOLD MINERS UPDATE 11:40 AM

Wed, 19 Dec 2018

  At the moment it looks like miners hit the precise C-wave target cited yesterday and topped. Let’s see what happens after the Fed announces. I said today would be volatile. Juniors reversed hard as well. Let’s see how they finish.

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MORNING UPDATE 10:12 AM

Wed, 19 Dec 2018

The dollar is down, but it hasn’t broken support. Metals and miners are up. I’m still surprised at the sudden rise in miners before the Fed announcement. That is the type of action you expect after a significant decision – not before. It leads me to believe that prices are about to top dramatically or […]

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MINING/GOLD RATIO UPDATE 3:22 PM

Tue, 18 Dec 2018

  The HUI/GLD ratio is approaching critical resistance. Since early 2017 most advances in the mining/gold ratio terminated after spiking briefly above the 200-day MA. The green downtrend line has kept the ratio in check. Will this area defeat prices once again? If history is a guide, we could see the ratio spike over the […]

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