We saw wild swings in the stock market yesterday. Prices reached 259.85, just a few ticks away from the 259 ABC measured target. The S&P 500 cash index formed an outside reversal day. Meaning prices exceeded both the high and the low of the previous session. That type of behavior is often seen near […]
Continue Reading →Volatility contracted, and the Bollinger bands narrowed significantly. Typically this precedes a sharp move. After testing $14.78, this morning silver broke lower to test the cycle trendline. I didn’t expect a significant move before the elections, so I was a little surprised. Now it could be nothing and prices may turn higher in a […]
Continue Reading →After testing $14.78 this morning, silver prices rolled over sharply and attacked $14.40. That level coincides with the cycle trendline dating back to September. Silver may try to bounce here. Gold (December) is trading around $1227. Prices recently touched the short-term support line near $1226; we may see a bounce. I think we can […]
Continue Reading →December gold spiked to new cycle highs ($1246) on continued stock market weakness. Prices will probably maintain an upward bias until the stock market firms. Stocks should stabilize around the November 6th elections. Miners are bouncing after yesterday’s earnings route. I don’t think prices will recover Tuesday’s $21.51 highs before the elections. Once this […]
Continue Reading →Not much going on this morning. Gold (December) reached $1241.20 as the stock market sank to fresh lows. Stocks are attempting to recover, and gold is backing off…for the moment. After reaching $1243 on Tuesday gold has been consolidating in a small triangle formation. Prices will likely break higher from the pattern on additional […]
Continue Reading →Since last week miners have opened two price gaps. Gaps tend to get filled, so the odds favor a decline or pullback to fill the gaps at $20.00 and $18.75, at some point. For example, prices are about to fill the $20.50 price gap that opened in August.
Continue Reading →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%.
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