HUI dropped hard below 217 to a low of 213.10, and as of 1:45 US Eastern time has made a reversal candle. That would qualify as 'holding 217' if it…
Boink, HUI just hit the bottom test. It's all in what it does from here now. A failure of 217 or a bounce off of it?
The SLV-GLD ratio (SGR, upper) has been strong (a positive) but is at resistance defined by the 200 day moving averages. The HUI-Gold ratio (HGR, lower) just plain stinks, in…
GLD is below the trend line and the 50 day MA’s. MACD is triggered down and below zero. GLD is still on a bear signal.
A view of the metals by daily chart. SLV is above the 50 day averages. Next objective would be to break the trend line. There is some volume creeping in,…
In this week's letter it was mentioned that a safer buy point on the gold stocks (as represented by the HUI index) would be with a DAILY chart move above…
GLD bounced yesterday but remains below the red downtrend line and 50 day moving averages with MACD triggered down and below zero. Still on a bear signal.
Yesterday’s noted hints with the silver-gold and HUI-gold ratios look like they will manifest in some kind of bounce in the precious metals at today’s open. At the very least, the good news is that the precious metals are firmly counter cyclical, as the stock market is under pressure due to a weak ADP employment report. Interestingly and logically, gold got crushed yesterday along with the strong ISM, although so too did many cyclical commodities.
Folks, the daily charts are broken. We know that. The gold "community" is scattering again in the face of whatever it is that prompts these periodic massacres. This update is…
In response to a subscriber’s request, I am pleased to announce the addition of a simple yet helpful new aspect to the NFTRH service that will be of value to subscribers and potential subscribers who do not always have the time or inclination to wade through the whole detailed NFTRH report each week.
The NFTRH service will now include clear, uncluttered charts (as follows) focused on a daily time frame for strategic ETF’s. This is an addition (at no extra charge) to the already well rounded service that includes the detailed weekend letter and interim email/website updates during the week.
We now provide handy and unbiased short to intermediate technical signals for gold (GLD), silver (SLV), gold stocks (GDX), silver stocks (SIL), commodities (DBC), broad US markets (SPY), Europe (EZU), emerging markets (EEM) and China (FXI). ETF content is subject to change as their strategic value changes.
This singular aspect of the new NFTRH represents a clearly defined focus on my most basic management tool and capability, i.e. nominal technical analysis simply portrayed with a clear and concise message that is free of detailed theoretical and opinion content.
In the interest of simplicity there will be little talk of support, resistance, volume and measured objectives in this segment of the service. In short, all we want to know with these charts is ‘are they on bull, bear or neutral signals?’ Very mechanical, very unbiased.
On to our first (complimentary) daily technical report…
GLD is on a bear signal with MACD triggered down, below zero and price below a short term downtrend line and the 50 day moving averages.
Well I am back already… :-) with a couple different views within the precious metals complex today. First, I added some Fib retrace lines to the 5 minute chart shown earlier. The 62% Fib off of the ‘take a poke’ buy zone only adds emphasis to the shaded support area.
Today Jeremy Stein (Fed member) lobbed his .02 into the media with talk about a ‘mechanical taper’ tied to economic data. He joins James Bullard who was out the very day after FOMC’s non-Taper talking about a possible October taper.
HUI has dropped to a thus far 'higher low' to the critical 217 parameter. Gold Bug sentiment is down to 10% by the Sentimentrader data we most often review. The…
Here is what the US Fed did to the currency it is supposedly a steward of yesterday. The USD plunged below an important support level. If this breakdown holds below 80.50, it measures to the mid-70’s. Enter an ‘inflation trade’, in which we’d look to fan out from the precious metals and include other commodity and global stock items.