Armstrong to Allow a Gold Rally?

Ha ha ha… well, with the way he commands the respect of reformed gold bugs it almost seems as if gold will not rally until Marty says gold will rally.

Gold – What Now?

Again, I am not disrespecting the man and his computer.  I have heard the man talk and I think he is very intelligent.  The computer, I know nothing about.  His theses, when politics are kept out of it (Europe is more bullish than the US, as we have noted for all of 2015; see chart below) are sound as well.

stox.spx

So now, given the speculative short positions in gold, Armstrong thinks a short-covering rally can happen.  That would relieve what NFTRH has been noting is a compelling risk vs. reward in the CoT data.  It may even get a few Gold Generals reanimated before a final, and lethal, down leg.

That’s the Marty view.  My view is that it is very possible and this will be subject to the macro funda’s at such time.  For now, I agree on bounce potential.  We are managing what should be obvious bounce targets weekly in NFTRH.

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