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.
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).
I actually saw some cheering of the 'not quite as bad as expected' ISM report yesterday. It bounced all the way up to a contraction level of 49.5. Full ISM…
The first market bounce sale is MSCC, although I added another stock that had not gone anywhere yet, so I am still technically just as long the market bounce. But…
As you know, we have the energy sector (XLE) as an ongoing situation from both long-term (monthly view, for investors) and short-term (daily, for traders). Crude Oil fund USO is…
Using the ETFs, we find gold in the nose of what would normally be thought of as a bullish Triangle (continuation) pattern. However, we'll note here what NFTRH has been…
Well, that is the theme of this article highlighting SocGen's call to short gold. The article enthralls us about the chances of a rate hike by December having risen a…
Gold and Confidence By Steve Saville A point I’ve made many times in TSI commentaries over the years is that the major trends in gold’s relative value have nothing to…