NFTRH 724

WIN “Whip inflation now”… That was the saying in the 1970s. Paul Volcker’s Fed then locked itself in a death struggle with inflation by raising interest rates as high as necessary to finally defeat it and provide Sir Alan Greenspan, the Maestro, a wellspring of monetary goodwill with which to begin creating the toxic mess we have today. Bravo sir! Today we are looking for … Continue reading NFTRH 724

NFTRH+; where things stand near the close of Fed week

The inflation hysteria – despite the actual mechanics of inflation, like True Money Supply and Fed policy that bloated it – are in the rear view mirror. What is so exciting (and scary) right now is that the Fed is fighting the last war and the bond market continues to play ball, guiding them higher. Here is the 30yr Treasury yield ticking a new high … Continue reading NFTRH+; where things stand near the close of Fed week

NFTRH+; the leader holds firm

We looked at the long-term support for silver in this morning’s update. We also reviewed its still intact leadership to gold. Daily silver is hanging tough at the SMA 50 and if its relative strength to gold is foretelling a rally in the precious metals (as well as other areas) its first objective is 20.80. After that, if a relief rally gets going and has … Continue reading NFTRH+; the leader holds firm

NFTRH+; Gold & Silver status, pre-FOMC

Gold is still clinging to the uninspiring support area in the 1670s. As it stands now, the ‘handle’ consolidation/correction that I’d originally projected in 2020 has long since given way to a double top, technically. The double top’s implications could be all the way down to the 1200s or 1300s, per a previous update. That’s just a measurement of a pattern. But it is a … Continue reading NFTRH+; Gold & Silver status, pre-FOMC

NFTRH+; important divergence in the precious metals

What does it mean that gold is tanking to new correction lows while silver remains relatively firm? Gold (daily chart) is on the very cusp of slipping the last ditch support noted in yesterday’s update using a weekly chart showing that support. If gold holds this little thread of support the bottom could be getting made now. If not, the update targeted the downside. Silver, … Continue reading NFTRH+; important divergence in the precious metals

Gold, Silver & Copper CoT data improve from already constructive to bullish alignments

In an ‘all one market’ signal, gold, silver and copper are contrary constructive, bullish and bullish respectively by sentiment/positioning in the Commitments of Traders Gold improved this week from an already okay alignment as large Specs sold and shorted, Commercials covered shorts and bought and little guys net shorted. Not bad. From CFTC… Silver was already very bullish by the contrary CoT view and now … Continue reading Gold, Silver & Copper CoT data improve from already constructive to bullish alignments

NFTRH+; next support levels for silver

Support at 18 (+/-) is giving way (I’ll probably release SLV) and the weekly chart shows the next two objectives, should this not prove to be a fake out prior to reversal. That is hope. The chart is the chart and if this breakdown remains in play we’re looking at the 17 area, potentially followed by 16 (+/-). Despite the deplorably bearish sector sentiment, the … Continue reading NFTRH+; next support levels for silver

2 Horsemen of the (macro) Apocalypse ride on…

The US dollar and the Gold/Silver ratio are bulling together… And per the Seinfeld bad chicken episode, “that’s not gonna be good for anybody.” Here we see Uncle Buck (DXY) doing what he has been doing since he began diverging the inflation hysteria well over a year ago. And his fellow rider doing similar. For anyone new to this, the ratio of gold to silver … Continue reading 2 Horsemen of the (macro) Apocalypse ride on…

NFTRH+; a clear macro signal

If you are like me you may have had some measure of mental macro whipsaw recently as the short-term signals bounce from disinflationary/Goldilocks to inflationary and back again. Fairly annoying. But this set of indicators, the Gold/Silver ratio (GSR) combined with the US dollar index, beg a cautious stance on the inflated macro, including – if history is a guide – on gold stocks (which … Continue reading NFTRH+; a clear macro signal

NFTRH+; Gold and Silver daily chart technicals

A daily chart view for short-term reference. Gold has bounced to the SMA 50 and resistance associated with that area. Option 1: Bounce failure. Option 2: Break on through to the other side for a meeting with the SMA 200 at 1841. Silver has halted at the first resistance area, which includes the hard diving SMA 50. With the power of the recent negative sentiment … Continue reading NFTRH+; Gold and Silver daily chart technicals

NFTRH; The post-FOMC market situation, Gold and Silver

FOMC came. FOMC laid a .75% egg. FOMC rode off into the sunset until September. Meanwhile, signs of global economic contraction continue to crop up as the Fed fights the last war. As repeatedly harped upon, contraction is the best backdrop for gold mining stocks because it pressures central banks to consider loose monetary policy, or at least to back off the hawk routine while … Continue reading NFTRH; The post-FOMC market situation, Gold and Silver

NFTRH+; Gold, Silver and big Tech

Gold thus far holds the support, which can be seen on a weekly chart per a July 21st update. Here is the updated daily for review. Silver is the precious metal we’ve been watching more closely due to its stellar (contrarian bullish) CoT situation and its status at clear long-term support. If we take it in a vacuum (i.e. we ignore the fact that there … Continue reading NFTRH+; Gold, Silver and big Tech