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…
As posted at Biiwii... Improving Macro Backdrop In light of a shifting global macro backdrop that we can finally sink our teeth into with respect to a bullish orientation on…
There is a lot happening across global financial markets. We go in depth into US stocks, review global stocks, make sharp points about commodities, cover macro indicators in depth and…
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…
The title is not meant to declare that this time gold stocks are going to exercise the excellent risk vs. reward stance vs. the US stock market. But it is…
With all the hype and noise built in to daily and weekly market management, sometimes it is worthwhile to dial out, calm things down and touch base with markets on the big picture. Here are views on various markets (with limited commentary) by way of some NFTRH monthly charts.
Let’s start with currencies, since they are a reflection upon global policy making, which has been unprecedented in its direct market interference over the last few years.
Nominal Charts – Currency
We noted the hot air patch in the Canada dollar last year. I had thought CDW might stop and find support at 85, which is a measurement from the topping pattern; but so far, no dice.
Fellow commodity currency Aussie is at what should be a strong support zone.
[edit] evidently my uninformed use of stockcharts.com’s symbol for the Rupee is incorrect. I have had input that this chart is an inverted view of Rupee-USD. Looking into this.
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…
We have been noting the bearish state of the gold miners for all too long now; most recently in NFTRH 321. But at some point I have got to believe…
Errr, this chart is starting to get hard to ignore isn't it? It is a gold mining sector fundamental indicator. I have no clue how the jockeys using only nominal…
So the Swiss gold vote caused a sizable ruckus in gold and silver overnight. This morning there is a nearly as sizable recovery in the metals.
The Swiss vote is an important hype component to get behind us and a positive reversal today would be notable, given the already over bearish sentiment profile (cue Citi’s Willem Buiter with a hysterical rant against gold leading in to the Swiss vote).
First let's preface by stating that I have a dislike for gold sector pom pom wavers as evidenced by this post at Biiwii: Huey, Dewey & Louie. Second, let's ask…
Returning to our short-term management charts (60 minute charts, only for those managing the short-term) here are the updated views of GDX and GDXJ. Both items have stuck to the…
In other news, gold stock bulls to bears... 'how you like me now sukkah?' Of course, the bounce was highly readable in something approximating real time. Anyone who did not…
Actually it was out much earlier but I had to get it in the can and run this morning. So now I am back and here to tell you that…