Category: Reports

THURSDAY REPORT 11/01/2018

Thu, 1 Nov 2018

    The price action remains crazy before the midterm elections. Metals and miners have endured several explosive days up and down over the last 2-months. Significant follow-through lacked in every case. Will this time be different or was this another convincing trader trap? Whatever the case, I think things will get easier after next […]

Continue Reading →

TUESDAY REPORT 10/30/2018

Tue, 30 Oct 2018

  Not a lot to add tonight. The elections are a week away, and those results will shape our year-end outlook. Markets could remain choppy for the next week or so. I’ll continue to look for directional clues and update daily. I don’t expect to make any significant trades until after the elections. However, I […]

Continue Reading →

MORNING UPDATE 9:15 AM

Fri, 26 Oct 2018

  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 →

THURSDAY REPORT 10/25/2018

Thu, 25 Oct 2018

  Miners were clobbered today because of weak earnings, and the odds favor October highs. Prices may bounce or consolidate into the elections, but I think the overall direction is lower into November/December. Of course, a major political shift on November 6th could change things instantly. An October top in gold remains possible as long […]

Continue Reading →

TUESDAY REPORT 10/23/2018

Tue, 23 Oct 2018

  Metals and miners started strong, but follow-through was lacking. We may have failed breakouts in GDX and GDXJ. The prices action tomorrow should provide some transparency. Yesterday’s lows and today’s highs have become key pivots. Closing above today’s highs would restore the bull flag potential. Whereas, closing below yesterday’s lows would recommend an October […]

Continue Reading →

TUESDAY REPORT 9/25/2018

Tue, 25 Sep 2018

  Much will be decided tomorrow. Metals and Miners could break either way. Prices will respond to interest rate expectations. Gold will remain under pressure as long as interest rates continue on a steady path higher. Gold should rally if the Fed appears dovish. I’ll post multiple updates throughout the day.   -US DOLLAR- The […]

Continue Reading →

THURSDAY REPORT 8/30/2018

Thu, 30 Aug 2018

  The stalemate between gold and the dollar continues. The dollar failed to rally above yesterday’s highs and prices settled below the cycle trendline. Conversely, gold’s short-term pattern can still be viewed as corrective if the $1200 area holds. Miners tested but held their lower bear flag boundaries. However, the path of least resistance is […]

Continue Reading →

TUESDAY REPORT 8/28/2018

Tue, 28 Aug 2018

  Buyers came to rescue as the Dollar breached the June/July support line. This corresponded with gold attacking key resistance at $1220. The Dollar reversed, and Gold rolled over. Technically speaking, the dollar hasn’t declined far enough to support a cycle low. Today’s reversal was likely trend chasers buying support expecting a turnaround. I’m hesitant […]

Continue Reading →

THURSDAY REPORT 8/23/2018

Thu, 23 Aug 2018

  I believe tomorrow will be a decisive day and much hinges on Fed chairman Powell’s 10:00 AM speech. President Trump has hinted that he wants the Fed to back off on increasing rates. I doubt they will listen, but you never know. Like I said, a September rate hike is already baked in. Everyone […]

Continue Reading →

TUESDAY REPORT 8/21/2018

Tue, 21 Aug 2018

  Metals and Miners are inching their way higher. It will take time to determine if this is just an ordinary rebound lasting 1-2 weeks or the start of a more meaningful advance. If you didn’t get a chance, check out the 2016/2018 gold correlation chart. Prices reached their lows 3-trading days ago; we are […]

Continue Reading →