Stock Markets The US market is now just about at the limits of a 'bounce' vs. 'bull continuation'. Using SPY as an example. Junk bonds, while still in a downtrend,…
Yesterday we updated the hit to the miners and that update still looks valid. It looks like the reaction is just that, a reaction. But also note that the miners…
Last week when GDX pulled back hard we reviewed an NFTRH+ update and target of 23. Yesterday and this morning it hit that target and today, poetically, comes the next…
A snapshot of current daily technicals…
Precious Metals
GLD broke up from the pattern neckline and smashed through the SMA 200. That area around 120 is now key support. Upside target measured off the pattern has been around 128, where it would be very over bought.
As if it were as easy as all that the market looks like it is trying to find support after we noted its state in pre-market. It is not as…
US Stock Market The stock market is down again in pre-market. We are at a point where technicals will start breaking down or another big bounce reversal will begin. For…
On the other side of the equation from the earlier GDX update, we have the bearish Financials ETF XLF, losing important support today. MACD, RSI and AROON are all down to boot.
Using GDX as a general sector marker, we see the price dropping right down to the former resistance area around 20. That is the first of two notable support areas.
A snapshot of current daily technicals…
Precious Metals
GLD broke back above the first key support level. 120-122 will be a big test. A rise above 120 would put in a short-term higher high to go with the recent higher low. 114 is where key support begins.
Let's keep it simple. The gold stock sector is acting very nicely as an anti-market to everything else that is going down of late. It is a microcosm of the…
Gold poked above the SMA 50 and 1200 level. This is its minimum requirement to get bullish. Above 1240 and then 1260 would be very constructive. Gold has taken on…
I wanted to give you the latest snapshot of the precious metals as we wind down into the new year. GDXJ is breaking above a short-term downtrend line today after…
When we first started with the trade setup service, we highlighted two Semiconductor companies; one large (Intel, which has worked out well) and one small (LSCC, which did not work…
Folks, I am ready to be the strongest gold bug there is one day when the time is right. Why did I write that sentence? Because this update is one…