The daily futures chart makes it clear. Silver had a pre-market whipsaw up and back down this morning and it remains on consolidation at short-term support, locked below the down-sloped 50 day average. It retains the potential to break upward from this consolidation, where it would find the noted resistance, which is significant, and just above that the SMA 200 at around 17. Here’s the … Continue reading The Work That Silver Needs to Do
Slowly the Gold/Silver ratio continues to turn; and step by step, inch by inch… The GSR even has a symmetry thing going on here as the little pullback has formed a right side shoulder to a baby Inverted H&S type pattern. Curiously, the GSR’s other rider of liquidity destruction, USD, is wobbling, but sloppy chart or not it’s doing so within a daily uptrend. So … Continue reading Gold/Silver Ratio: Slowly I Turn
In the update on April 24 we noted: On the VIX chart above 30 looks like better support than the current 35. That would project SPX to the old Bull Turnstile at the 3000 area. Here is the updated chart that went with the above. VIX has just about ticked the next support area at 30 and SPX is within hailing distance of 3000 (which … Continue reading NFTRH; Ref. April 24 update, risk view updated
I’ve spent so much time managing gold miners (for fundamental and technical reasons) and the remote work/communications/commerce/healthcare stocks (for obvious reasons, in NFTRH not here on the public site) that other than each week in NFTRH the old wonder pig, SPX, has not gotten much airplay. So let’s stare at the daily chart of SPX as the market cheers the Gilead Corona treatment news and … Continue reading S&P 500 Daily Chart
Now, what does it mean? Is it an ill-fated bounce or something more? The Vampire Squid is typical of what I am seeing in many Financials/Banks. GS has taken out the SMA 50 and has resistance directly above but I’d say a pop to the SMA 200 is more likely. The Pigs* are all breaking upward as if in support of the idea that the … Continue reading Pigs Are Making a Move
Another subscriber request, this time for gold royalty company Sandstorm (SAND). I’ll add this back to the weekly NFTRH list as well so I’m not spending too much time out here doing individual gold stock charts. We find SAND (daily) in much the same posture as the sector, ticking a cycle high off a pattern that would have a nice upside measurement, assuming support holds. … Continue reading Sandstorm Gold (SAND) per Request
An NFTRH subscriber asked and I provide. Simple. Last week we really firmed up the initial upside target for the sector (HUI). That was due to its daily chart pattern marrying up with the monthly chart objective we’ve had in play for the better part of a year now. I created new, cleaner miner charts in NFTRH 600 last weekend, and while we’ll be adding … Continue reading B2 Gold (BTG) Charts Per Request
Compliments of the MSM come a slew of headlines to whipsaw you with this morning. You can click the graphic to get all the details if you’d like. The media are only too happy to increase your noise level EVERY. SINGLE. DAY. Amid the ECONOMIES REOPENING!! hype there is the obligatory ‘Bond King’ stuff (meet the new Bond King, same as the old Bond King, … Continue reading “Expert who called the 2008 crisis”…
In NFTRH 600 we looked at a chart of gold with its associated CoT data. The chart has a clear upside target and the unspectacular CoT is not standing in the way of that. Gold sports a CoT structure that you’d expect to be more contrarian bearish, given the current gold price. We also looked at the chart of silver, which more and more people … Continue reading Relatively Muted Silver Sentiment
600… can you imagine that? Subscribe to NFTRH Premium (monthly at USD $35.00 or a discounted yearly at USD $365.00) for an in-depth weekly market report, interim market updates and NFTRH+ chart and trade setup ideas. You can also keep up to date with actionable public content at NFTRH.com by using the email form on the right sidebar and get even more by joining our … Continue reading NFTRH 600 Out Now
Thing 1 continues to emerge from its bull flag while Thing 2 is breaking down from its bear flag. Logical, eh? Macro dorks, have at it with your interpretations. Slowly I toin. Subscribe to NFTRH Premium (monthly at USD $35.00 or a discounted yearly at USD $365.00) for an in-depth weekly market report, interim market updates and NFTRH+ chart and trade setup ideas. You can … Continue reading Gold/Silver Ratio: Slowly I… well, you know
I just stumbled upon this this uniquely American song (recorded by Woody Guthrie and many others) this week. This was refreshing. The Brit bands (hat tip Animals) have done a great job with it. Continue reading Gerry and the Pacemakers: House of the Rising Sun
I think the case is closed, or it should be closed. But with firmly ingrained perceptions passed down from one generation of inflationist gold bugs to the next, you never know. Remember the old dismissive “gold is silver is copper is tin is oil is hogs” line from the 2003-2008 time frame? Probably not, but I remember it because it was me saying it against … Continue reading About Gold Miners and Inflation
I wanted to go to Sentimentrader to grab actual graphical data and more detailed information, but their website is down this morning. So instead I’ll present their emailed summary. It is an obviously still bullish sentiment structure. NAAIM data as of April 22 shows a distinct recovery in money managers’ bullishness (or more accurately, FOMO*). If we make an assumption that the rally needs to … Continue reading NFTRH; Market Sentiment
