I have an ongoing gag (to keep myself, if no one else, entertained) where the distinguished Clark Gable is inserted into commentary about the old fashioned indexes known as the Dow Jones Industrial Average and the Dow Jones Transportation Average. He celebrates good weeks at Happy Hour and drowns his sorrows at bad weeks just the same. The joke started when I just could not … Continue reading The Distinguished Gentleman of US Indexes
[edit] Please excuse the chart, which does not agree with what I’ve written. In my haste I did not adjust to the fact that the SMA 200 has risen to the 38% Fib level from the 50%. I still see 280 followed by 260 as the better targets. But I wanted to clear up any confusion. Daily HUI shows that minor support at 300 is … Continue reading NFTRH; Nearing 1st (but not best) HUI Target; Daily, Weekly & Monthly Charts [w/ edit]
Picture = 1000 words about how good this will be for the gold stock sector if the recovery move in this ratio is real. And I have little reason to believe it is not real. Patience may be needed as the inflationist and over-committed bugs do their traditional selling. Gold stocks often drop while the macro funda improve. That’s what’s happening today. Continue reading NFTRH+; Exactly What We Want to See
This chart was included in NFTRH 626 not to make a point, but to put visual proof to a point we’ve been making since the monetary policy response to the COVID-crash. What thing looks like the (inverse of) the other thing? Well, below is a chart of Uncle Buck live this morning. The first bounce target was 94.65, which was put in the books before … Continue reading Make Way for Uncle Buck
