Add the US dollar to the list of items that are in question and on the move. The green circles show the higher highs and higher lows made by USD since the May low. In June it spiked down, tested that low and then shot higher.
In an update on Monday we noted the following using a weekly chart of HUI... Here is the blown up view (again, no pun intended) of weekly HUI. I have…
Here is the blown up view (again, no pun intended) of weekly HUI. I have added a downtrend channel (intersecting the 110 area, +/-) for a view of where a…
While gold vs. the S&P 500 has not done much yet, I want to show a view of gold vs. a couple market leaders, the Russell 2000 and Biotech index, looking constructive.
My phase of time stresses as noted in NFTRH 340's opening segment is kicking in a bit, but darned if I will miss the notable things like HUI below. So…
S&P 500
Per the simplified big picture daily, weekly and monthly charts of SPX first introduced 6 weeks ago in NFTRH 329, we have been managing potential downside targets of 2000 and 1900.
If SPX were to hit either of these targets it would not kill the bull market, especially if 2000 holds. In that case it would be a normal, moderate and healthy correction.
The bounce has materialized, as anticipated. This almost had to happen given the vastly improved CoT structure for gold, the over sold levels of the stocks and the “puke” sentiment noted a couple weeks ago.
The first target on HUI is 180 (+/-). What we have going on there is a gap to be filled and a resistance area that has very clearly held support and provided resistance for the last 6 months.
Amidst an economic backdrop in the US that continues to very gently decelerate, we have a celebration of what was perceived by the market as a dovish Fed. Anxiety had…
Well, that was a heck of a post-FOMC reaction. As if the slightly redone wording actually said anything more than 'we may raise interest rates by mid-year and then again,…
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…
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…
US Stock Market
After a whipsaw on Tuesday the market made a hard move down yesterday. Amid degrading indicators like bond spreads and sentiment, the Dow and S&P 500 declined over the last 3 days from all time highs.
Our parameters between normal and abnormal are very tight. Let’s check up on them.
This is an updated view of a chart that was created so long ago I can't even remember it. I just found it rummaging through a chart list. Anyway, it…