Miners held their gains after 11:00 AM and prices are near the highs of the days. It’s not the spirited recognition day I’ve been expecting, but it’s constructive nonetheless. Ideally, prices will maintain their momentum into the close and set up another rally tomorrow.
Continue Reading →Miners held up well, relatively speaking, as gold declined in May and June. In July, psychology shifted, and miners began overreacting to the downside. For example, gold declined just 0.75% last Thursday, but miners finished 3%+ lower. To support a meaningful bottom, miners need to begin overreacting to the upside. We see a little […]
Continue Reading →The pattern following the parabolic 2011 top in silver is similar to what we currently see in Bitcoin. After a parabolic top, there is an initial crash, then a long sideways consolidation before a secondary collapse. -SILVER POST BUBBLE COLLAPSE- Notice how silver bounced off the $26.00 support several times. Each post-bubble rebound […]
Continue Reading →Prices have held up, and I took initial positions in JNUG and USLV. Bought JNUG at $14.77 with an initial stop at $13.85. Bought USLV at $10.42 with an initial stop at $9.85. Prices didn’t drop deep enough to trigger an official buy signal, so the color codes haven’t changed.
Continue Reading →Miners continue to look vulnerable, and GDX will likely close below the 20-day EMA. Metals are holding up a little better, but the action isn’t encouraging. To err on the side of caution, I’m taking profit on 25% on my USLV position. -USLV- I’m exiting 25% of my position at $11.86.
Continue Reading →Metals and Miners showed signs of topping after Friday’s employment report. Weekly dollar prices spiked down to the 200-week MA and reversed. If the dollar finally bottomed, we should see a 4-8 week recovery. Metals and Miners should soften as the dollar bounces. The dollar broke key technical support during the 7-Month decline. Consequently, […]
Continue Reading →The gold cycle has been topping every 34-35 trading days. It has been 36 trading days since the June $1,298 high. The sequence is ripe for a peak. Forming a swing high is the first step in achieving a top. The Dollar dropped to major support at 93.00; prices are well-overdue for a rebound. […]
Continue Reading →We are seeing subtle signs of topping today in metals and miners. The Dollar tested significant support around 93.00 and is trying to rally. Gold and Silver could form swing highs if they close below today’s intraday low’s tomorrow. -GOLD CYCLE HIGHS- Gold has been topping every 34-35 trading days. If the cycle count […]
Continue Reading →Metals continue their rebound. The rally in miners lacks conviction and trading volume is light. We still expect another decline in metals and miners. 10-year Treasury yields dropped to fill the June gap after breaking out. If yields bottom and begin to rally, metals and miners should start to rollover. -US DOLLAR- Prices […]
Continue Reading →The dollar continues to search for a bottom. Prices have been declining for 6-months, and nearly everyone is bearish. The extremly bearish sentiment should lead to a base….eventually. I would buy the current dollar weakness if gold were breaking out to new highs; prices remain below the April/June $1,298 double top. Our expectations for […]
Continue Reading →