Inflationists pressuring gold mining stocks

As inflationary pressures ease, inflation-centric gold bugs do the wrong thing It is ridiculous, but they are out there, en masse. They buy gold stocks for the same reason they buy oil, copper and other cyclical and more inflation sensitive commodities. They are the inflationist gold bugs and they follow the dogma of their influencers, with no second level thinking. No critical thought or logic. … Continue reading Inflationists pressuring gold mining stocks

Bonds continue to indicate contrarian potential

As the almighty Fed (of Oz) prepares to render its decision… Treasury bonds continue to hammer out interesting daily chart patterns. Some notes on this… The daily charts say one thing but the long-term charts (e.g. the 30yr yield ‘Continuum’) say another, speaking to time frames and a wider angle perspective. Markets, while chaotic this year, are playing ball with bonds in that there are … Continue reading Bonds continue to indicate contrarian potential

copper price (futures)

Doctor Copper, Old Man Gold and a deterioration of inflated markets

The copper price is tanking, and not just nominally As the upcoming FOMC is forced by market signals to keep its hawk suit on (as of today 54% of CME traders now expect a 1% rate hike with the remaining 46% in the .75% camp), global financial markets are bending to the pressure of Fed policy. The daily chart of copper futures is eyeballing the … Continue reading Doctor Copper, Old Man Gold and a deterioration of inflated markets

Epic (CPI) Inflation!!!!

Another CPI report, another big inflation headline All I can say (publicly) is that we are on track. I was actually concerned that today’s headline might be the opposite of the hysterical inflation headlines to date. You can click the image to get the article at CNBC if you’d like. Now, if market participants can just keep their contrarian spirits under wraps until FOMC and … Continue reading Epic (CPI) Inflation!!!!

t-bill yields and inflation expectations

What does the T-bill see that the ‘inflation expectations’ ETF does not?

The T-bill yield continues to ramp upward as inflation expectations pull back The 3 month T-bill yield (green) had been one of our guides demanding that the Fed get its ass in gear and get on the rate hike regimen it is now on. Evidently, it still is demanding. Quite demanding, actually. Yet the ETF that tries to represent inflation expectations is in full retreat … Continue reading What does the T-bill see that the ‘inflation expectations’ ETF does not?

NFTRH 713, out now

#713 is out and I’ve gotta run for one of a string of commitments lined up before me this summer. For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an in-depth weekly market report, detailed market updates and NFTRH+ dynamic updates and chart/trade setup ideas. Subscribe by Credit Card or PayPal using a link on the right … Continue reading NFTRH 713, out now

Gold price is spiking!

Gold’s stock and commodity adjusted prices are spiking The nominal gold price is not only going nowhere; it’s fading bearish on a daily chart view. Gold is experiencing selling pressure by the inflation bugs, which I will not belabor for the 1001’st time. Let’s simply note that as the macro markets in general continue to pivot away from the inflation hysteria and toward a bearish … Continue reading Gold price is spiking!

Gold vs. cyclical and more inflation-sensitive markets

Gold’s ratios to cyclical markets continue to pivot Just an updated picture of the macro pivoting toward what will be a positive fundamental backdrop for gold mining. The holdout continues to be the last inflated man standing, crude oil and the energy sector. While Gold/Oil is still pinned gold has made a move of the bottom vs. Energy stocks (XLE). That’s something, at least. When … Continue reading Gold vs. cyclical and more inflation-sensitive markets

Gold vs. the ‘Inflation Expectations’ ETF

Gold is doing fairly poorly in its own right, but potentially bottoming vs. ‘inflation expectations’ (which are a key Fed consideration) The gold price (futures) is in a potential ‘W’ bottom posture in relation to the ETF (RINF) dreamed up to reflect inflation expectations. There is a long way to go to signal a new anti-inflationary phase upon the macro, but with the inflation headlines … Continue reading Gold vs. the ‘Inflation Expectations’ ETF

Another inflation headline, another contrary bond market reaction

Core consumption rose, Treasury yields pull back Treasury bonds are still in downtrends, and thus yields are still in uptrends. So the inflation play is technically not yet broken from a Treasury bond POV. But it is interesting how the inflation trades continue to unwind (check out commodity tracker DBC ticking a new low today after failing to get back above its daily SMA 50) … Continue reading Another inflation headline, another contrary bond market reaction