Copper, Industrial Metals & Palladium vs. Gold

The daily chart shows the industrial metals still in pro-cyclical bounce mode vs. gold, while the Pd/Au ratio has long since collapsed. The weekly chart is not so friendly to the pro-cyclical, pro-reflation crowd. We do have other indicators in play that argue a cyclical inflation may be brewing, but this is not one of them. Not nearly yet. Subscribe to NFTRH Premium (monthly at … Continue reading Copper, Industrial Metals & Palladium vs. Gold

NFTRH+; GDX & GDXJ Daily Chart Status

Yesterday GDX broke upward above resistance and filled a gap down from May. It must now use that former resistance as support in order to keep the most comfortable scenario in play. Otherwise the next test would be the EMA 20 and SMA 50, both of which are rising. GDXJ is similar, as the most comfortable scenario would be to hold former short-term resistance as … Continue reading NFTRH+; GDX & GDXJ Daily Chart Status

NFTRH+; This Sector is at Better Risk vs. Reward Than the Broad US Market

The Healthcare sector has the fundamental benefit of riding more smoothly through economic down cycles (this is my actual real world experience, having supplied medical device companies in a former life) and now the XLV/SPY ratio appears to be at a logical bottom and relative buy level. The message? Insofar as you wish to own US stocks have a focus on Healthcare stocks (BioPharma, Insurance/Services, … Continue reading NFTRH+; This Sector is at Better Risk vs. Reward Than the Broad US Market

NFTRH; This Chart Says ‘new paradigm coming to macro markets’

In a June 17 update we first noted that the TSX-V/TSX ratio (JX/TSX) was in a daily Diamond consolidation pattern imminently due to break one way or the other. On June 22 we noted the break… and it was upward. In both updates we noted the following… However, the ratio can still break upward without being set free into a real bull market. That is … Continue reading NFTRH; This Chart Says ‘new paradigm coming to macro markets’