Category: Free Updates

THURSDAY REPORT 5/23/2019

Thu, 23 May 2019

  I’m going to start with the chart of miners. I believe it paints an appropriate picture of the current situation. Cyclically speaking, I believe the next turning point will appear next week. Unfortunately, it remains unclear if prices will top or bottom at that time. Miners have been correcting for several weeks. The moving […]

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MORNING UPDATE

Thu, 23 May 2019

  Metals and miners are bouncing as the stock market and oil selloff. Yesterday’s weakness in miners looked like the beginning of a pattern breakdown. Today, miners are higher, and anyone that bought the bearish breakdown is underwater. I remain focused on the last week of May for a probable cycle turning point. If stocks […]

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TUESDAY REPORT 5/21/2019

Tue, 21 May 2019

  It’s been a wearisome grind lower in precious metals over the last three months. Cyclically speaking, we should be approaching the next 6-month low. I see the potential for a bottom at the end of May if prices drop a bit further. So I think we’re close to a tradable bottom. Gold miners have […]

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THURSDAY REPORT 5/16/2019

Thu, 16 May 2019

  Stock market fears temporarily subsided, and gold slipped back below $1290. A close in gold below $1280 would support a final decline in precious metals and setup the next buying opportunity at the end of May.   -US DOLLAR- The dollar closed above the trendline, and it looks like the beginning of a short-term […]

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TUESDAY REPORT 5/14/2019

Tue, 14 May 2019

  The markets are spooked over escalating trade tensions between the US and China. Gold jumped to over $1300 yesterday as global stock markets tanked. If this was just a fear-driven reaction, gold may begin to rollover and slip back below $1290. Holding $1290 and closing progressively above $1310 in the coming days would support […]

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WEEKEND NEWSLETTER 5/12/2019

Sun, 12 May 2019

  It looks like the trade negotiations between the US and China imploded. China backed out of the previous deal. Some believe China is stalling in hopes that Trump will lose the 2020 election so they can negotiate with a different president. Precious metals and miners have been grinding lower for about three months. I […]

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MORNING GOLD UPDATE

Wed, 8 May 2019

  The markets feel like a coiled spring waiting for the next news event. The multi-week consolidation pattern suggests prices will either break higher or we will see a terminal 6-month decline to around $1240 and $1255 in late May. The next big market reaction will determine which way prices break. At the moment (10:31 […]

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AFTERNOON UPDATE (POST FED BREAKDOWN?)

Wed, 1 May 2019

  The Fed left interest rates unchanged- no surprise. They noted inflation was below their 2% goal. That could open the door for a rate cut later this year. The dollar declined after the news. Gold turned positive momentarily, but prices may be reversing back lower.   The 4-hour gold chart remains in a descending […]

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AFTERNOON UPDATE

Mon, 29 Apr 2019

  Markets want to know if the Fed will cut rates in 2019. Currently, markets are pricing in about a 41% chance of at least one rate-cut in 2019. They announce Wednesday; no rate hike/cut is expected.   GDX UPDATE–>  Gold and miners may get a little tricky before Wednesday’s Fed announcement. Closing below $20.20 […]

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WEEKEND NEWSLETTER 4/28/2019

Sun, 28 Apr 2019

  -US DOLLAR- The dollar is a little overbought. However, it looks like prices broke above 5-month resistance at 97.70. Progressive closes above 98.00 would confirm. If established, that would likely keep the pressure on precious metals. -GOLD WEEKLY- The weekly gold chart reveals an extensive consolidation starting after the initial surge to $1377 in […]

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