When they start telling you it’s a blow off move in GDX (and the gold miners in general) you might want to be a little suspect of that proclamation. After all, there are a lot of FOMOs* getting hot under the collar out there as mainstream money is only now just starting to pay attention. The old miner in the picture above has been pushing … Continue reading Gold Miners: It’s not a blow off
Here is the daily chart of HUI that was posted on Monday and again in real time for subscribers amid yesterday’s continued ferocious bounce… “#2 is the daily chart from a public post yesterday. The resistance zone was placed there for a reason and that reason comes in the form of today’s rise right into it. It’s a key make or break level (200 to … Continue reading HUI bangs projected resistance, halts…
Rather than send too many emails, I sometimes use the Trade Log notes as a place to just get some stuff down on paper for myself and subscribers to consider. This was just dropped in there. I’ll drop a tweet (@NFTRHgt) when the Trade Log gets ‘talky’ enough, like today. 2.27.20 Notes: The email updating process is laborious, and I do feel that by pinging … Continue reading NFTRH; GDX 30 min. & Daily Charts [w/ edit]
I emphasize the term ‘gold analyst’ because I cannot figure out why people would think of someone who micro manages gold, silver and the miners to the exclusion of the greater macro markets as a serious analyst as opposed to say… a promoter. Now, I am not talking about financial analysts who specialize in mining or geologists. That’s their trade. I am mostly talking about … Continue reading A Scan of the ‘Gold Analyst’ Herd Yields an Inconclusive Contrarian Reading
Since we noted the initial move to break the 200 day moving average – and at least temporarily break the downtrend on August 27th – the Silver/Gold ratio (SLV/GLD) has held its breakout, looking to close the week and the month of August on a signal that we have long anticipated. Okay, but the monthly chart of the Silver/Gold ratio makes abundantly clear that nothing … Continue reading Macro Implications, as Silver Takes Leadership From Gold
As noted in NFTRH, as long as gold vs. stock markets remains strong, I remain strong. Period. There is no more important stock market than the S&P 500 (SPY) for gold (GLD) to conquer. The inverse Gold/SPX ratio (SPX/Gold) was the original Amigo #1 (of our 3 macro Amigos theme from last year) for a reason and that reason is to begin to draw the … Continue reading Gold vs. SPY… Textbook
As gold is breaking its daily chart flag and taking the next leg up toward the 1378 gateway (big picture resistance as noted on the monthly chart) dialing back to the smaller (daily) picture we have noted that the HUI/Gold ratio (HGR) needs to break out and hold above its 200 day moving average in order to give a significant bull signal. Barring a head … Continue reading NFTRH; A Gold Sector Proving Ground (high priority)
I can only conclude that the gold “community” is so quiet right now and has been so quiet in the run up to right now because their favored views – involving inflation and a weak dollar – are not in play. So how can the gold bug be bullish right now? Well, he can’t because he has been brainwashed into thinking that the littlest planet … Continue reading Gold “Community” Crickets
It’s an over obsessed upon commodity, previously hyped for its (Hubbert’s) “peak” status by “experts” like T Boone Pickens and a whole clown show of promoters amplified by the media at the time. Now WTI Crude Oil has reached a thick resistance zone (as managed in NFTRH for the last couple of years) and may be breaking down from a peak of a whole other … Continue reading Positive Implications for Gold Miners if Crude Oil Breaks Down
Here is GDX holding the parameter we laid out for it in a subscriber update on Oct. 8. Today GDX is declining back to a test of the support zone and the same rule applies as before; that thing needs to hold or new lows would appear likely. The pattern is actually in symmetry with its left side, if you put any weight on the … Continue reading Looks Who’s Holding Firm Amid the Carnage; the Gold Miners
In yesterday’s update we noted some bullish ‘quant’ data from Sentimentrader related to the current sentiment conditions for gold. To me, it’s a moderate positive. But given the intensity of the mini crash and associated negative sentiment, I think there a good chance there is more to the bounce. At least that is the trade I took yesterday when buying 3X bull fund NUGT (per … Continue reading NFTRH; Gold Miners, Gold & Silver Daily TA (priority: medium)
The GDX/COPX ratio has broken above the 50 & 200 day moving averages and is still going, despite gold’s ignominious state at the moment. Here’s what gold (GLD) looks like today. Here is what copper looked like at yesterday’s close (in-day today it is a hair under 3, at 2.9981/lb). And yes, that is important support. Against the broader Industrial Metals complex GDX is weaker. … Continue reading Gold Miners/Copper Miners Ratio Is Interesting
Gold stocks are not responding well to the deflationary whiff in the air and I continue to think that is because they got caught up with the inflation crowd (gold is silver is copper is tin is oil is hogs is ‘resources’). For a real sector buy, it needs to be apart from these items and counter-cyclical. Anyway, none of that matters in the here … Continue reading NFTRH; GDX & GDXJ Daily Technicals (med. priority)
On Monday I did a public post, sketching up a forward look at the S&P 500 using the chart below. Aside from the fact that A dropped further than my projection I think this scenario is viable. It’s just that instead of being support to a B bounce, the SMA 50 could act as resistance to it. Beyond the A-B-C scenario I have no real … Continue reading NFTRH; Still Leaning Toward This Market Scenario (and a Note on Gold Stocks)
