GLD climbed above lateral resistance yesterday and moved above the trend line. It is on a bull signal by all data points. The pattern measures to 129 assuming the green line holds as support.
Stocks, precious metals and the general commodity sector are all rising today. The Dow and S&P 500 are right at ‘bounce’ resistance now but a negative for the bear view is that leaders like the NDX and SOX are above their 50 day moving averages.
Yesterday’s bull fest seems to have quickly brought on thoughts of ‘here we go again’ if anecdotal evidence is any guide (referencing people’s comments at bearish sites like Slope of Hope among others). There were also a couple of emails from NFTRH subscribers putting forth thoughts on a near term bullish case for US stocks. One of those emails is copied here at the author’s suggestion. I will answer as best I can, point by point…
Franco Nevada (FNV) is described as one of the best (if not the best) run precious metals royalty plays by people who seem to know their stuff, fundamentally. What I…
GLD is on a weak bull signal. It must get above the downtrend line or risk fading to neutral or bearish.
The stock market is taking the bounce right at its do-or-die point, which was to maintain the December lows. Gold is taking the counter to that trade and getting clobbered.
GLD remains on a bull signal.
A partial ETF update beginning with GLD, which remains above the support parameters and on its bull signal.
GLD remains on a bull signal with MACD above 0 and the price above supportive 50 day moving averages.
GLD is neutral and on the cusp of a bull signal if support holds and the MA 50’s are exceeded.
There is talk of economic growth and 'taper' in the air and the precious metals are with that script this morning and declining. As reviewed in this week's report, gold…
A low priority update for gold stock traders/investors.
In light of market moving events (Goldman’s ‘stocks are over valued’ Monday, JPM’s ‘PC’s are on a comeback, good for semiconductors’ Tuesday and this morning’s entry from the World Bank ‘Global growth to pick up in 2014, led by US’) in the media, we tighten up the ETF focus a bit.
This week we add the long-term T bond (TLT) and crude oil (USO) ETFs due to their strategic value within our fundamental analysis.