Precious Metals I got back near the end of the day and observed that HUI promptly gave back any in-day bounce hopes and has now closed below the 2008 low. Any prospect of closing above 150.27 was a non-starter. My apologies for any unnecessary noise. Capitulation is ongoing, but this is the result of forced liquidation as the final holdouts are compelled to sell by … Continue reading NFTRH; Market Notes
Traders be aware that HUI dropped below the 2008 low and is now above it again. It is deeply over sold (weekly chart below) and prone to bounce at any time. Sentiment is in the pits and if a reversal is going to happen, it should be soon. If HUI gains strength today or closes above the 2008 low of 150.27 there could be a … Continue reading NFTRH; HUI
The gold-silver ratio and USD are both up this morning. This is punishing to many items including of course, the precious metals. Judging by my screen, it is also pressuring the stock market’s internals as I see a lot of red on individual items while the Dow and S&P 500 are green. Continue reading 2 Horsemen Up Again
With events in play I thought we should have a market update as opposed to the usual ETF update this morning… US Stock Market The Republicans won, to no one’s surprise. Also unsurprising is that the stock market is finding this palatable and cheering… just as it cheers the destruction of the saving classes and the enhancement of the investing classes. In other words, it’s … Continue reading NFTRH; Market Notes
