Gold has been in a downtrend since August 2020. Investors are turning bearish, and we could see a selling climax in the coming days. Our gold cycle indicator is near its maximum bullish reading, and we expect a bottom forthwith. It’s important to note that gold is approaching its pre-Covid (February 2020) high […]
Continue Reading →I believe gold (currently $1776) will test and likely undercut the November low in the next few days. That should usher in a bottom as the remaining weak hands exit their positions. I see good support around $1740, but prices could spike a bit lower temporarily.
Continue Reading →-GOLD CYCLE UPDATE- Both the September and November lows arrived about 45-trading days apart. Last Thursday’s breakdown to $1784.60 occurred 45-days after the November low. Closing back above the 50-day EMA (currently $1858.67) would prescribe a successful retest of the November low and the beginning of the next uptrend. Gold futures (currently $1845) […]
Continue Reading →Silver is under attack, and prices are back below the $27.00 level. Yesterday’s gap higher was closed, and prices are backtesting the intermediate trendline. What happens next is crucial! A close below $26.00 would establish a false breakout and bearish reversal (favorite trick of manipulators). In this scenario, silver could collapse back towards $22.00, possibly […]
Continue Reading →Below is a snippet from a Bloomberg article I’m reading. It appears physical silver dried up over the weekend. Increased demand could push prices through $28.00 resistance and trigger a sharp rally next week. Silver Coin Sites Grind to a Halt as Reddit Horde Takes Aim Retail sites were overwhelmed with demand […]
Continue Reading →-GME- You’re not going to believe this, but GME is up another 80%+ after yesterday’s 92% gain. Prices are up 1400% in January! Short sellers are getting bloodied, making them have to buy at ever-higher prices. This is nothing more than a high-risk game of musical chairs – when the music stops (prices top), […]
Continue Reading →The Georgia Senate race has tightened to nearly a coinflip compared to the 68% to 35% reported Tuesday. If the Dems win both seats (currently 47% odds), that would change things from a divided government to one that’s united. The Dems, if in control, would increase spending and stimulus, but with that comes the potential […]
Continue Reading →-DOLLAR DAILY- I think the dollar is experiencing a meaningful devaluation. Prices are extremely overdue for a bounce, but the trend pushes persistently lower. The final area of support arrives at the 2018 low of 88.15. If that level fails, I believe the USD could collapse to 80 by April/May 2021. -DOLLAR MONTHLY- We […]
Continue Reading →Reminder: U.S. Markets close at 1:00 PM today and won’t reopen until Monday, December 28, 2020. Because Markets are closed Friday for Christmas, tonight’s report will act as the Weekend Newsletter. The stimulus saga continues. President Trump is asking for $2000 payments to individuals versus $600. Congress could amend the bill and vote […]
Continue Reading →We have a Fed announcement tomorrow at 2:00 PM, followed by Chairman Powell speaking at 2:30. There is some speculation the Fed will increase their asset purchases. I don’t think they will do anything until the employment numbers get much worse. Either way, it will be important to monitor gold’s reaction following their decision. […]
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