Craig Hemke Reviews The Charts Of The US Dollar And Silver
Craig Hemke, Founder and Editor of TF Metals Report, joins us to recap the upward trending channel he has noted in the US dollar ever since the June FOMC meeting announced policy changes, and we take a look at how the 200 day moving average has been a key level of resistance for Silver. Craig outlines what scenarios could happen that would change the trend of both charts, and also points to the correlation between a wide range of markets, mostly due to the dependence on the Fed policy in response to inflation.
Click here to visit Craig’s site, TF Metals Report.
Last week’s big breakout and move to resistance now looks like a bull trap. It would take an impressive move tomorrow to right this ship.
https://stockcharts.com/h-sc/ui?s=%24USD&p=W&yr=4&mn=1&dy=0&id=p46576003027&a=1103528047
The intermediate uptrend is mature which doesn’t help.
https://stockcharts.com/h-sc/ui?s=%24USD&p=W&yr=6&mn=3&dy=0&id=t2092259366c&a=653766793&r=1643935187212&cmd=print
Craig is just plain the sharpest guy in the room!
Another failed breakout:
https://stockcharts.com/h-sc/ui?s=%24USD&p=W&yr=6&mn=0&dy=0&id=p76055123891&a=932696065
Based on this chart from 6 years ago, the dollar could very well be at the beginning of a monster decline. Not necessarily a crash but a long deep fall…
https://stockcharts.com/h-sc/ui?s=%24USD&p=W&yr=7&mn=7&dy=0&id=t6304149574c&a=456880405&r=1643936988134&cmd=print
This chart just adds to the bearish implications of the one above. What looks like a fork on this one is really just three parallel lines based on the lows of 2011 and 2014…
https://stockcharts.com/h-sc/ui?s=%24USD&p=W&yr=13&mn=0&dy=0&id=t7609949821c&a=570072236&r=1643937245020&cmd=print
Another old chart:
USD vs Gold:
https://stockcharts.com/h-sc/ui?s=%24USD%3A%24GOLD&p=W&yr=7&mn=1&dy=0&id=p20092820341&a=723235012
Jay Martin on resources, his upcoming VRIC conference with 235 exhibitors, half being PM’S.
Made positive comments on Pure Gold
The Dow has been stuck underneath rising Fibonacci fan resistance since last April.
https://stockcharts.com/h-sc/ui?s=%24INDU&p=M&st=1981-04-08&id=t0333824776c&a=422002372&r=1643956230838&cmd=print
Priced in gold, the Dow would have to rise 15% from here to reach its 2018 high and 125% to reach its all-time high over 20 years ago.
https://stockcharts.com/h-sc/ui?s=%24INDU%3A%24GOLD&p=M&yr=30&mn=0&dy=0&id=t7766198623c&a=407494253&r=1643957268459&cmd=print
SPY:GLD spent the second half of last year above its 2018 high and it’s probably going to amount to a huge bull trap.
https://stockcharts.com/h-sc/ui?s=SPY%3AGLD&p=M&yr=11&mn=0&dy=0&id=t8464233966c&a=1084718636&r=1643960064846&cmd=print
Seeking Alpha commentary on CDE.
https://seekingalpha.com/article/4484318-coeur-mining-stock-short-term-risks-buying-opportunity
CDE Coeur Mining is starting to get to very attractive levels, and if it drops down another 10% then I’ll likely add one more tranche.
Komo plant based foods launching in 33 Loblaws your independent Grocer. This company keeps expanding it’s footprint. It is also pushing aggressively into The US. SYL-YUM-CSE
How about those questionable Job #s. Took them less than a couple of minutes to reverse the metals. … almost like it was known in advance and planned.
Nothing new under the sun………….. front running and they are scamming everyone……
Hard to believe……………… they missed that badly……………
but the BLS also revised December payrolls from 199K to 510K.
Just another FREAKY FRIDAY…………………..
‘Surprising’ NFP: https://www.dailyfx.com/economic-calendar
ADP Head Fake: https://adpemploymentreport.com/
Unbelievable that anyone thinks they can depend on any backed govt agency…for any correct numbers…… at this point…………… govt lies all the time…..
Of course, but following the bouncing ball gives indications of reality. They played this one mid-year 2021, and again this week. Very unlikely a third time soon. Process of elimination.
Very much true Jerry. As I have written countless times before, the PMs will rise only and when the satanist elites decide so. The techincal analysis is totally worthless when it comes to metals.
Hello Norrareal 1968………….. I agree 100%……… and I hope you are doing fine, and that your day is a great one…….
Thank you for the kind words Jerry. Have a nice weekend yourself
Typically morning smash, but I always have trouble rationalizing hiring more people is bad for “all” materials. More jobs, means more things being done and more materials needed. More petroleum needed.
Algos don’t think so. …need more google.
“need more google”………….. lol……. that is a good and funny one…..
Wow. Crude Oil just keeps trucking higher… up to $92.72.
.
https://www.investing.com/commodities/crude-oil
Time to go electric…… lol………….. 🙂
Haha! Well, that will be forced on us all at one point… Still these high oil prices are going to pressure the whole economy and spike transportation costs and freight deliveries. Just remember…. inflation was supposed to be “transitory”…. (yeah right….) 😉
I just thought this was funny………………… from zerohedge
To understand the religion of the Fed, consider the Federal Reserve policies and actions that the market views as bullish:
— Fed lowers interest rates: bullish.
— Fed raises interest rates: bullish.
— Fed eases: bullish.
— Fed tightens: bullish.
— Fed holds steady: bullish.
— Fed changes course: bullish.
— Fed issues guidance: bullish.
— Fed is silent: bullish.
— Fed sneezes: bullish.
— Fed coughs: bullish.
— Fed caught insider trading: bullish.
— Fed increases wealth inequality to the point it unravels society: bullish.
Fed should have been bullish for gold but they have decided, unlike everything else, that it is bearish
Hard to print that gold……….. key stroke and $8 Trillion appears………. now we get that fractional reserve lending, and everything is magically higher….. lol………
If, the sheeple ever figure out fractional reserve lending. (by 10x or more)…… which they will not…. they might get upset….lol
The sheeple will never Get upset. They are busy making money on crypto and enjoying their New virtual homes
Good News! Dave Contrarian Hunter says the melt up phase is underway. This time, Dave Contrarian says, the melt up rally will be broad to include even our depressed PMs and their shares. So, Good folks, gold will be at 2500, silver at 50, GDX at 65 and GDXJ at 100 and all that by June this year.
Does anybody know whatever happened to Holy Grail? I still rememeber his call about China launching it’s gold backed digital currency in connection to the Winter Olympics, which btw opened today.
Yes,….. he got ticked off…… because of some issues….. which he did not agree with…..
SILJ is at multiple supports so next week should be interesting.
https://stockcharts.com/h-sc/ui?s=SILJ&p=W&yr=3&mn=7&dy=0&id=p77759690895&a=1108288625
Silver is worth a shot here.
https://stockcharts.com/h-sc/ui?s=%24SILVER&p=D&yr=1&mn=3&dy=0&id=p25394488859&a=500462915
The dollar could easily start tomorrow with a bounce but I won’t be surprised if it fizzles quickly.
https://stockcharts.com/h-sc/ui?s=%24USD&p=D&yr=1&mn=5&dy=0&id=p97910972702&a=1104207215