The HUI/GLD ratio is approaching critical resistance. Since early 2017 most advances in the mining/gold ratio terminated after spiking briefly above the 200-day MA. The green downtrend line has kept the ratio in check. Will this area defeat prices once again? If history is a guide, we could see the ratio spike over the […]
Continue Reading →Category: Updates
MORNING UPDATE 12/18/2018
The next 72-hours are critical. It seems nearly every market is at a significant tipping point. Tomorrow’s Fed decision will either extend or reverse the current trends. Expect increased volatility. -GOLD- It looks like prices are trying to break higher from the small bull flag. Resistance coordinates between $1258 – $1270. If we […]
Continue Reading →BITCOIN UPDATE (BREAKDOWN?)
Bitcoin is below the $5700 support level (currently $5,219) and prices could enter a secondary collapse. The next level of support is $5000. Below $5000 and investors may begin to panic. It looks like prices are heading to $2000 – $3000 before the next significant bounce. For review, here is the August Bitcoin […]
Continue Reading →JDST UPDATE 3:30 PM
I purchased JDST last week at $73.45. Prices are up nearly 15%. I’m leaving tomorrow for a hunting trip, and internet access will be minimal. I’ve decided to place a stop just below today’s $80.37 low to protect the gains.
Continue Reading →CLOSING UPDATE 3:43 PM
Little changed from the previous update. Gold, Silver, and GDXJ all broke their October 31st pivot lows, GDX hasn’t. The setup for a sharp 3-5 day decline remains. However, if it’s going to happen, it should occur relatively soon. Like I said, maybe gold needs to fall below $1200 before we see a significant […]
Continue Reading →MORNING UPDATE 11:05 AM
We are getting some downside price action in metals and miners today. I’m pretty confident this is the beginning of the November decline that should lead to a December bottom. At the moment, I do not see the sharp down swing in miners I felt was possible. That may change later today or on […]
Continue Reading →MORNING NOTE 8:50 AM
We are getting some downside follow-through after yesterdays Fed announcement. Gold (December) is below the $1213 low set last week. Silver is back below the $14.25 level. I imagine we will see miners gap lower at the open. If this is the collapse described in the GDX bull trap update, then we should see […]
Continue Reading →AFTERNOON UPDATE 3:35 PM
Gold fell below $1223 (currently $1222), and prices appear to be slipping after today’s Fed announcement. The next vital levels reside at $1218 and $1212. -GDX- If we are going to see a November breakdown, it should begin soon. If prices aren’t heading decisively lower by tomorrow or Monday, then we could be stuck […]
Continue Reading →POST-FED NOTE 2:15 PM
There was very little change in the Fed statement. A hike is expected in December and more in 2019. Gold initially spiked higher – then lower, and prices are back to where they started (currently $1225). Gold would have to drop below $1223 and then $1218 to support a near-term breakdown. Rallying above $1230 […]
Continue Reading →PRE-FED UPDATE 1:30 PM
Metals and miners are bouncing into the 2:00 PM Fed announcement. The setup for a November breakdown appears valid, but maybe I was tricked again. Let’s see what prices do after 2:00 PM. -GDXJ- Miners are bouncing a little going into the 2:00 PM Fed announcement. Let’s see how prices close. If prices continue […]
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