As we did with SLW last week earlier this week, today let’s take a look at a speculative leader to the precious metals rally and plot a near term upside measurement in the GDXJ Junior Miners ETF. By looking at pictures like these we are able to keep perspective and traders are able to plan targets, entries, exits, etc. The chart is self-explanatory as a … Continue reading NFTRH Update, GDXJ (S/T) Upside Objective
Today there is some turbulence. Good, an extended rally scenario would not want to see the sector fly up to excessively over bought levels all in one big gulp. HUI is only moderately over bought. By breaking the consolidation handle in the first half of this week HUI has now established the 220 +/- area as the first key support level, replacing the former 210 … Continue reading NFTRH Update, New HUI Support Zone
A low priority update on Silver Wheaton’s daily technical status. This post is not meant to call anyone to any sort of action. It is just noting some data points for those interested. As the year unfolds, these type of updates will be produced on occasion as I spot identifiable objectives on charts. SLW has a very clear chart pattern and a short term target … Continue reading NFTRH Update, SLW Next Resistance & Target
GLD remains on a bull signal with MACD above 0 and the price above supportive 50 day moving averages.
In response to a subscriber’s request, I am pleased to announce the addition of a simple yet helpful new aspect to the NFTRH service that will be of value to subscribers and potential subscribers who do not always have the time or inclination to wade through the whole detailed NFTRH report each week.
The NFTRH service will now include clear, uncluttered charts (as follows) focused on a daily time frame for strategic ETF’s. This is an addition (at no extra charge) to the already well rounded service that includes the detailed weekend letter and interim email/website updates during the week.
We now provide handy and unbiased short to intermediate technical signals for gold (GLD), silver (SLV), gold stocks (GDX), silver stocks (SIL), commodities (DBC), broad US markets (SPY), Europe (EZU), emerging markets (EEM) and China (FXI). ETF content is subject to change as their strategic value changes.
This singular aspect of the new NFTRH represents a clearly defined focus on my most basic management tool and capability, i.e. nominal technical analysis simply portrayed with a clear and concise message that is free of detailed theoretical and opinion content.
In the interest of simplicity there will be little talk of support, resistance, volume and measured objectives in this segment of the service. In short, all we want to know with these charts is ‘are they on bull, bear or neutral signals?’ Very mechanical, very unbiased.
On to our first (complimentary) daily technical report…
GLD is on a bear signal with MACD triggered down, below zero and price below a short term downtrend line and the 50 day moving averages.
Case-based ‘White Paper’ on the importance of unbiased TA: I would like to repeat the idea that it is best to subordinate yourself to markets at all times. To put your ego aside or at least check it daily to make sure it is not leading you astray. The gold bug ego for example, hardened by a solid decade-plus of relentless bull market is in … Continue reading Technical Analysis – Put Egos Aside & Respect the Charts
We have been reviewing different versions of this chart in NFTRH over the last several weeks as the S&P 500 approaches a long-standing target of 1550+. Today it looks like that target will be hit and exceeded with ease, but last summer and right through the Fiscal Cliff nonsense in December, very few were willing to entertain such crazy talk. Targets are guides and objectives, … Continue reading Don’t Expect the US Stock Market Mini-Bubble to Roll Over Just Yet
Today we use the recent events in the gold sector as an example of how effective use of Sentiment and Technical analysis can keep us on the right track despite what we may believe with all our rational being at any given time. i GoldBug I am bullish on gold. That is simply because I believe you can’t sustainably grow an economy by layering more … Continue reading Sentiment, TA & the Gold Correction