March 3, 2016 - Notes From the Rabbit Hole

NFTRH+; Energy Sector Short and Long-term Views Updated

Updating the short and long-term views of XLE and sending to the entire list as it is a sector of interest to so many economies and markets and thus, of macro concern.

XLE Daily broke above the key resistance level yesterday and assuming we have a weekly close above it tomorrow, that is now support. Indeed, it is tentative support now but I kept it red to play devil’s advocate. A reasonable measurement from the pattern is 64-65. That is for the traders among us.

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March 3, 2016

NFTRH Interim Updates / NFTRH+

NFTRH+; SAND

As you may know, I have a friend in junior mining analyst ‘Otto Rock’ from IKN. As is noted each week on the last page of NFTRH reports, I recommend his work because it is put forth honestly and he calls it like it is, whether that makes him look good or not. Point being, I trust the guy as a nugget of gold among the lumps of coal that make up the gold stock analyst community.

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March 3, 2016

NFTRH Interim Updates

NFTRH; Precious Metals ‘in-day’ Charts

Understand that in-day moves can also be whipsaws, so take them for what they are; current views and not a daily or weekly close, which are firmer.

GLD is breaking the Triangle. If this is successful, the next stop might be 1308 for gold per this morning’s update.

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March 3, 2016

NFTRH Interim Updates

NFTRH; Stock Market & Gold Sector

We will cover the wider spectrum in the weekly reports, but here I want to boil it down to the US stock market and the gold sector and keep it simple, as we are currently managing opposing views in these two items.

S&P 500: Bearish but on a bounce, as anticipated.

Gold sector: Bullish and so far resisting taking any sort of substantial pullback.

SPX finally turned the resistance at 1947 (middle point of the ‘W’) to support and now proceeds on its way toward target (2000 +/-, expanded to 2030).

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March 3, 2016