Cyberattacks are becoming more prevalent. A few weeks ago, bad actors attacked the Colonial pipeline and now the largest meat supplier in the U.S. I believe these attacks on infrastructure and the food supply will continue. We are no longer dealing with tech-savvy hackers living in their mom’s basement. These hacks are sophisticated and perpetrated by Artificial Intelligence. […]
Continue Reading →GOLD 4-HOUR CHART: Gold (currently $1732.80) was unable to break above resistance surrounding $1760 on the first attempt. Prices are pulling back and should find support between $1720 – $1740. It would take a sustained breakdown below $1715 to propose a deeper pullback. Otherwise, I’ll look for prices to stabilize and prepare for the next […]
Continue Reading →Building off last night’s GDX update, I wanted to point out additional similarities between 2016 and now. GDX 2016 CORRECTION: After a very sharp rise in 2016, miners entered a multi-month corrective phase. The 2020 pattern is following a similar path and could confirm a bottom soon. Note: The third and final breakdown (below […]
Continue Reading →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 →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 →-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. […]
Continue Reading →For gold to drop into the next 6-month low, we need the dollar to stabilize and turn higher. After consolidating for 2-weeks, the dollar is once again slipping to new lows. The trend is incredibly oversold, and prices are down more than 10% since March…we are due for a bounce. I see the potential […]
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