Category: Updates

MORNING NOTE 10:10 AM

Fri, 1 Mar 2019

  April gold is below $1310 and tested $1305 this morning. Prices are bouncing slightly, currently at $1312.11. Closing today above $1315 would support a bounce. Declining below $1305 and then $1300 could trigger a sharp selloff.   -GDX- The morning gap was filled within the first 30-minutes of trading. Closing above $22.40 today would […]

Continue Reading →

AFTERNOON UPDATE (MINERS BREAKING DOWN)

Wed, 27 Feb 2019

  It looks like gold and miners are breaking lower; downside selling pressure has accelerated. Miners are well below their previous gap levels. Depending on today’s close, it looks like we have an exhaustion gap sell signal. Last weeks increased stops performed well and got me out of NUGT and USLV. I have open swing […]

Continue Reading →

MORNING UPDATE 10:50 AM

Wed, 27 Feb 2019

It looks like gold has broken lower out of the small triangle consolidation. However, we are yet to see an accelerated decline. That may occur if April gold slides below $1320. -GDX- Not a lot of upside follow-through after yesterday’s bullish reversal attempt. Slipping below $22.36 could trigger another wave of selling, especially if gold […]

Continue Reading →

CLOSING UPDATE

Tue, 26 Feb 2019

  April gold is still trading around the $1330 level. I’m a little surprised it isn’t performing better with today’s US Dollar weakness (down 0.40%).   -GDX- It looks like miners will finish above the critical $22.43 gap level. The 20-day EMA appears to be supporting prices. Slipping below $22.36 tomorrow could trigger a wave […]

Continue Reading →

MORNING UPDATE

Tue, 26 Feb 2019

  April gold slipped to $1325.50 earlier today before bouncing. Prices are back up to around the $1330 level. Gold needs to rally above $1335 or decline below $1325 to break free from the short-term consolidation. I was stopped out of USLV this morning. The UGAZ position is profitable, and I’m raising the stop to […]

Continue Reading →