Category: Updates

AFTERNOON GOLD UPDATE 1:52 PM

Fri, 21 Dec 2018

  Remember the green Fed-Day arrows? Gold initially broke lower on Wednesday, reversed, and then overtook the upper Fed arrow ($1258.40). Prices remained above $1265 for a time, and it looked like gold was headed higher. Gold is now back below the upper arrow. And if prices continue lower and slip below $1,245, we would […]

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MORNING NOTE 10:30 AM

Fri, 21 Dec 2018

  Stocks are trying to rally. Closing above yesterday’s high 250.16 would establish a swing low and support the potential for an undercut bottom. Not much to report concerning metals and miners. They are more or less unchanged from yesterday. Their next move depends on the stock market. If stocks bottom, then gold should begin […]

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MINING UPDATE 11:15 AM

Thu, 20 Dec 2018

  Here’s another example of a massive reversal day like we had in miners yesterday. Prices bounced the following day but quickly turned back lower. I expect the same result this time. Miners would have to close above yesterday’s $21.47 high to unwind the bearish reversal. Yesterday’s reversal dwarfs the one from January in both […]

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JDST STOP UPDATE

Thu, 20 Dec 2018

  Change of plans. I’m lowering my stop on JDST to below yesterday’s $52.53 low. I’m tired of this market bullying investors, and I’m willing to risk a lower stop.

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MORNING NOTE

Thu, 20 Dec 2018

  Markets reversed somewhat overnight, and it looks like the dollar is breaking down. Gold is back above the Fed announcement level, and prices look poised to exceed yesterday’s high ($1,262.20). Remember, key resistance continues between $1266 – $1270. It would take a weekly close above $1270 to support a year-end run to $1300 – […]

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CLOSING REPORT 12/19/2018

Wed, 19 Dec 2018

  It took some time to get the answers, but it looks like metals and miners just peaked. The Fed was not as dovish as they sounded back in November. Miners surged into resistance and reversed suddenly. GDX nearly nailed the ABC target on the head. The huge post-Fed selling in miners typically registers a […]

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