Well, the short answer is that SPX is still on a top test and so far at least, it’s not passing the test. There’s a gap down lower at the EMA 20 (2817 and rising). Pass the test and then the Megaphone comes into play. Fail the test and that little tick above resistance will have been the bull trap we’d been allowing for at … Continue reading SPX Top-Test & Megaphone
Form your own conclusions based on the pictures below and their current trends and potential for changes. NFTRH subscribers will know what we’re looking for and the implications therein. Also consider that many in the gold community are now guiding their herds lower (disclaimer: I am still short gold myself, but day to day) with one notable TA who was frothing ’em up in February … Continue reading Gold vs…
An update to review the relationship between SPX and gold through the lens of the Q4 2018 market correction. As we’ve noted repeatedly, a downturn in the stock market would be essential to a new bull phase in gold. Yesterday SPX pulled back and to the surprise of probably no one, spent the whole day clawing back after gapping down. But it is a candidate … Continue reading NFTRH; If This is a Turn… SPX and a Guide for Gold
