Just wanted to say something regarding the strength we see today. The power of gold, silver and miners continues, and it’s best to wait for signs of a top before taking any short positions. Previous cycles have topped in similar overbought conditions but nothing is guaranteeing a top must come now. -GLD- Today prices made […]
Continue Reading →Commodities are under pressure as the global economy slows, gold is finding some support while fears increase, and gold prices should turn higher soon. Oil is cheap, and the bears have full control, the $30.00 level was breached during the week. -US DOLLAR- The dollar needs to fall below the trendline or close above […]
Continue Reading →Gold, Silver and Miners are making it difficult to identify the biannual cycle low; if they are still headed a bit lower, they will need to break down soon or they risk running out of time. The dollar has pulled back some and is in jeopardy of breaking the recent cycle low, it needs to […]
Continue Reading →Prices are continuing towards their respective target areas, and I will be watching for signs of topping. I may have to adjust the target areas as the price structure develops but once we top prices should head lower into the year end. Once we have a confirmed biannual cycle top, I will assess target lows […]
Continue Reading →The nonfarm payroll numbers were less than expected. Therefore, prices didn’t fall as much as I thought on Friday. It’s still unclear if the biannual cycle’s bottomed in late July or if the low is still ahead of us. The Fed meets in two weeks, and I expected a September low to come either just […]
Continue Reading →The S&P 500 could be producing a broadening top type formation, If so prices could accelerate downward quickly. The black hat with immediate confirmed swing high has marked several tops lately, did it do it once again? If not a significant top then price Is just correcting down to the 10-day average before heading […]
Continue Reading →With the Dollar continuing higher into Friday, it greatly increases the probability that Gold, Silver and the Miners have topped in their Biannual cycles. If this does turn out to be the case, the Gold gained a meager $90 from its March Biannual low, unimpressive to say the least. We lack a few confirmations, but […]
Continue Reading →-GOLD QUARTERLY- I often get asked If I believe the 3+ year correction is over in Gold and Silver. To me, a confirmation that the Bull market has resumed will be a close above the 10 Quarter Moving average. In the chart below you’ll see how Gold closed above the 10 (EMA) in 2001 & […]
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