NFTRH Update, Precious Metals Review

The Key ETF daily charts remain on the same signals as the last update.  Precious metals are neutral, US and Euro stock markets are bullish but over bought and commodities and emerging markets are neutral but in potential breakdown mode.

We are in a typical pre-FOMC meat grinder where the precious metals are concerned.  I wanted to pass along a few pictures of the current situation, beginning with the important silver-gold ratio (SGR) and HUI-Gold ratio (HGR).

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A Cyclical ‘Mini-Me’ to a Big Secular Event?

Ever since the current (final wave 5?) leg in the now 4 year, 7 month old US stock bull market generated in November of 2012, NFTRH has tried to make the point that there is no new secular bull market in US stocks.  Indeed, there is a maturing cyclical bull market that has another 5 (+/-) months to live if it is to match the two previous cycles.  The bubble leader, Russell 2000 does after all have a measured target of 1350 (Kisses Goodbye).

Why do we call the US cyclical stock bull a bubble you ask?  Because of this chart (courtesy of SlopeCharts), variations of which NFTRH subscribers have been repeatedly hit over the head with just to make sure that we know what we are dealing with.


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Filter the Hysteria

I first became activated to start a website in part because of David Walker, the former top financial cop at the GAO.  Something was terribly wrong with America’s chronic and systematic debt accumulation and Mr. Walker used to write about it consistently at the GAO website. Along with this was a character down in the Rabbit Hole who scared me so thoroughly that I became … Continue reading Filter the Hysteria

NFTRH Update, HUI Weekly View

A quick update on the status of the weekly view of HUI and its projected ‘W’ or ‘IHS’ bottom as noted in this week’s letter.

But first, to review the daily situation, HUI made its first close above the resistance at 230 (as noted in an update last week by a daily chart).  The next important task is to take out the 50 day moving averages, which are currently 234.55 (EMA) and 241.50 (SMA).

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NFTRH Update, Key ETFs

With the precious metals up in pre-market and US stock futures down after political players did the predictable, it is notable that these markets seem to be going opposite the news.  This goes against the current technical trends but really, anyone buying the stock market yesterday because of an impending debt deal would have been buying a classic ‘sell the news’ setup.  Precious metals are ‘buying the news’, but have technical hurdles as follows.

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NFTRH Update, Notes

A quick note that I will be away from the market for most, if not all of the day today. That may be for the best given noise level out there.

Nothing has changed from Sunday and Monday’s communications. I remain in scouting for a bottom mode in the precious metals and seem to be in scouting for a top (at least a temporary one) mode in the US stock market. Again, the problem with each of these scenarios is the Washington noise.

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