[edit] I goofed and neglected to set a password. It’s okay though, I’ll leave it public. Okay, I lied. I’d said no more precious metals micromanagement for today. Well, here is a brief bit of it. I am not using a chart but as we know gold stocks have hit the minimum requirement for a test of key support with HUI ticking a low just … Continue reading NFTRH+; Gold, Silver & Silver/Gold Ratio [w/ edit]
When downside leaders like the small caps finally revert upward to their previous (down) trends, maybe then the market will top out and the sentiment rally will terminate. If moves like this do not change their trends it is just hope (and the peoples’ funny munny as printed by the Federal Reserve) keeping the dream alive. It’s just a reversion to trend as the market … Continue reading When the Crap Reverts
We’ve been using the chart in the earlier post since the depths of the crash to manage the A-B-C crash correction and the rally out of it. That chart has relied primarily on lateral resistance and support as it also took note of gaps to be filled. Let’s take a different view now that the correction is well under way. I don’t usually put a … Continue reading NFTRH+; Another View of HUI
The over valued growth area known as the Cloud (w/ SaaS software and all that remote collaboration stuff) has been a leader out of the March crash, leading broad Tech (NDX, QQQ), which itself is a leader. This has served me well in that time, but yesterday the CLOU (an ETF I have never owned, but used here for illustration)/QQQ ratio reversed and today it’s … Continue reading Market Leadership Indications
Now for some perspective, what is wrong with this daily chart of the Silver Miners ETF? Taking it at face value, nothing. A support test is a good thing and a gap fill would also be good. But as of now SIL is not even below its EMA 20. Like HUI, it is at the top of a very key support zone. If it fails, … Continue reading NFTRH+; Silver Miners
Typical of 2020’s impulsive market action, HUI has already touched the top of the first key support zone. I thought it might bounce back a bit to mess everyone up by testing the EMA 20 breakdown. But instead the support test is on, here and now. I am on watch to see if favorable signs crop up on the macro (stock market weakness first and … Continue reading NFTRH+; HUI Daily Chart Status
On May 10th in NFTRH 602 we reviewed the sentiment and seasonality of gold and silver. At that time gold’s public optimism was elevated as casino patrons still had not accepted the risk ‘on’ trades as they appear to be FOMO’ing to do presently. Gold’s seasonal started the year well enough on average but then got really whacked out, with the net result being … Continue reading Gold and Silver Sentiment & Seasonal Averages
The party is on. Yesterday not only did the gold stocks (leaders out of the March lows) get a pullback but so too did the remote work/buy/communication/healthcare software/tech stocks. In a genuine sentiment event continually instigated by the Fed’s willingness to print the US into a Banana Republic the most popular asset – the stock market – is taking the ball and running with it. … Continue reading NFTRH; Gold, Silver, Gold/Silver Ratio & a Word on Gold Stocks
