GDX Hammered on Close
Did you catch that close on the gold stocks? It is no wonder so many people lose their minds with this sector. 1 minute chart... I wouldn't blame the evil…
Comments Off on GDX Hammered on Close
November 6, 2014
NFTRH; Key ETF Update
A snapshot of the current technical status of several key markets (a lot of charts today because macro changes seem to be in effect)…
GLD broke down from the Sym-Tri (strike 1), lost the June low (strike 2) and now would try to find support at the December low, equiv. to gold 1180. Over sold, prone to bounce but technically bearish below 120 and 123.
Comments Off on NFTRH; Key ETF Update
September 23, 2014
NFTRH; Key ETF Update
A snapshot of current technicals for key markets…
GLD became very bearish with the breakdown from 124. A rise above 123 is needed to even begin to repair this chart.
Comments Off on NFTRH; Key ETF Update
September 9, 2014
NFTRH; Key ETF Update
A snapshot of the current technical status of key ETFs…
GLD filled gap, which now closes out the geopolitical hype and leaves gold on its own right at key support. Still not a constructive looking chart. A rise above the SMA 200 and then the 50 makes it constructive.
Comments Off on NFTRH; Key ETF Update
August 27, 2014
NFTRH; GDX and GDXJ
While the two charts below do not technically show a correction that is over, I have released the remaining hedges I had (via DUST) and am planning to use cash levels for any remaining risk management. This is just an FYI for anyone who is interested and I continue to suggest people go with the style they are most comfortable with, whether it be accumulate slowly on corrections, regulate cash levels, hedging or simply holding positions.
Comments Off on NFTRH; GDX and GDXJ
August 6, 2014
NFTRH; Key ETF Charts
A slightly abbreviated Key ETF segment due to ongoing time commitments over the mid summer weeks. Just a snapshot in time, picking up where we last left these charts a few weeks ago…
Comments Off on NFTRH; Key ETF Charts
July 30, 2014
NFTRH; GDXJ, GDX & SIL Updated
Well they sure don’t make it easy to get a hard read on things in the very short-term, but one thing we should remember is that this correction is the last correction I expect before a consistent drive upward begins, assuming that either a hard rally or bull market are in the near future. That is due to the symmetry of the weekly bottoming pattern, which will be reviewed in this weekend’s report.
Comments Off on NFTRH; GDXJ, GDX & SIL Updated
July 25, 2014
NFTRH; Dialing in the Precious Metals
Finally, we have seen the obvious (what most people will now take note of) kickoff to a short-term correction in the precious metals. Depending on the fundamental picture, we can plan on taking advantage of a buying opportunity as we have been noting over last couple of weeks.
Comments Off on NFTRH; Dialing in the Precious Metals
July 25, 2014
NFTRH; GDX Status per Request
A subscriber requested a view of the GDX for his personal management. So I thought I would throw it up here as an update. Today is bounce day (at RSI support), but GDX has not even retraced 38% of the rally. The 62% retrace at 24+ is the favored target for a decent correction that would flush some bugs.
Comments Off on NFTRH; GDX Status per Request
July 16, 2014
NFTRH; Miners Approach Resistance #3
A brief update to note HUI is now approaching the resistance level of 245 to 250 that we have been noting.
Comments Off on NFTRH; Miners Approach Resistance #3
July 9, 2014
NFTRH; Key ETF Charts
A snapshot of the current daily chart technical status of several ETFs…
GLD is bullish but in the equivalent resistance zone as noted for gold in NFTRH 296. MACD and RSI positive, with RSI close to over bought. Key support is at the MA 50 and 200.
Comments Off on NFTRH; Key ETF Charts
June 26, 2014
NFTRH; Iraq, the New Ukraine?
From Bloomberg:
“U.S. stocks retreated, with the Standard & Poor’s 500 Index falling a third day, as airline stocks tumbled after escalating violence in Iraq pushed oil prices higher while data on retail sales and jobs missed estimates.”
Comments Off on NFTRH; Iraq, the New Ukraine?
June 12, 2014
NFTRH; Key ETF Charts
Key ETF charts are a snapshot to current technicals, not comprehensive technical analysis.
GLD bumped above the lower end of resistance yesterday and is support for any continuing S/T rally activity. The big test is in the 123 to 125 area and the nose of the former Symmetrical Triangle.
Comments Off on NFTRH; Key ETF Charts
June 11, 2014
NFTRH; Key ETF Charts
ETF daily charts are a snapshot of current technicals, not a comprehensive technical review.
GLD has lost support after spilling out of the Symmetrical Triangle. Last week it was at the 62% Fib retrace and this week that is in the rear view window. Still bearish.
Comments Off on NFTRH; Key ETF Charts
June 4, 2014