A snapshot of current technical status…
GLD made a bearish breakdown below the equiv. of gold 1180. To even think about repairing the technicals, GLD would have to get above 115 at a minimum (gold above 1180).
The Semiconductor index is tapping the EMA 10 (gold line) again. This has supported two previous blips. Let's see how #3 goes.
The Gold-Silver ratio and USD (GLD-SLV, UUP) are still in bullish trends, which means the case for a decline in market liquidity is still in play.
With respect to the previous post... no neckline break as the last hour took a little off the top of GDXJ. Just a play-by-play FYI for all you sports fans…
Our furry friends are going to need to make a decision soon. That is because the still-intact bottoming (bounce) patterns we noted on GDX and GDXJ in an NFTRH update…
Checking in on the Semiconductor sector, where all the bear hype started in October, we find the weekly SOX at an interesting juncture. Of course you just knew - or…
Sometimes it is good to just put the data up and let it speak, whether or not we want to hear the message or whether it even seems to make sense. From MacroTrends…
The Fed’s balance sheet and gold on their post-2012 divergent paths. With QE terminated, we will see which of these lines adjusts going forward.
Yeh, gold to monetary base has really done its job protecting people from the dreaded inflation. Sheesh… However, let’s keep in mind the idea of extremes (in data, in sentiment, etc.) and what happens when phases pivot and snap backs occur.
Has this whole event in gold been merely a well and good correction prior to new eventual ← [that’s a key word, relax] upside?
Upon rummaging through the St. Louis Fed’s excellent database, some global employment data items for review…
US manufacturing hourly earnings are in an uninterrupted up trend. To think, all through this uptrend detached, abstracted Wall Street suits and associated media, who’ve never set foot on a shop floor sold a story that we don’t make anything in this country anymore (invest in financials and play the stock market instead!).
This has actually been the result of automation. Fewer employees are more skilled in technology. I don’t say ‘more skilled’, because being a real machinist for example, is a lost and under appreciated skill.
Canada’s general employment picture is good too.
From reader MM today... "Very interesting recent note on gold & silver. (I'm not a subscriber, by the way). Especially the two specially selected advisors whose advice you 'fade'. I…
No folks, I am not a day trader! :-)
But that does not preclude me from dialing in to short-term views, and a short-term view I found interesting was in GDX and GDXJ. When seeing the predictable pullback today my first thought was ‘typical… gold stocks can’t even sustain beyond a day or two’. My second thought was ‘let me look at some charts’ and so…
Well, the Uranium patch sure is interesting. We have been noting for several weeks now the difference between Thing 1 (the price of Uranium Oxide) and Thing 2, the Uranium…
NFTRH 316 was abbreviated because I have this person known as my wife who suggested in no uncertain terms that I participate with her in a weekend away with some…
I knew when I published the Gold Bug Psychology article I would not be making friends this week. That's the point. I sign my real name (not some internet alias)…
Bright and early on a Saturday an abbreviated (and really easy to read; funny how that goes) NFTRH 316 is mailed to subscribers.