Weekend Show – Dana Lyons & Jordan Roy-Byrne – Focusing On The Charts: Markets, Gold & Silver
Welcome to the KE Report Weekend Show!
After a wild week driven by geopolitical volatility, it’s a perfect time to tune out the headlines and focus on the charts. This weekend’s show is all about technical analysis. Both of our guests share valuable insights on how to trade and invest through uncertain market conditions.
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- Segment 1 & 2 – Dana Lyons, fund manager and editor of The Lyons Share Pro, kicks off the show by outlining his disciplined, chart-driven strategy in navigating extreme market volatility driven by tariffs and geopolitics. He emphasizes sticking with bearish positioning based on his quant models, highlights sentiment extremes as a potential setup for a bounce, and notes strength in defensive sectors like utilities, consumer staples, and gold, which remains in a strong uptrend.
- Segment 3 & 4 – Jordan Roy-Byrne, CMT, MFTA, editor of The Daily Gold, wraps up the show by providing a technical deep dive on gold, silver, and mining stocks, emphasizing that gold is in the early stages of a new secular bull market following key breakouts. He outlines short-term signs of a potential interim top, but sees this as a setup for a healthy correction before another leg higher, with $4,000 as a long-term target and historically strong miner margins supported by a breakout in inflation-adjusted gold.
The biggest threat to the World’s economic system is The World’s Reserve currency. America got it back in 1944 at Bretton Woods because they were the economic powerhouse. America stood alone their industry was dominant and the crown went to them. The US dollar was the most liquid currency, so it was a natural progression for them.
But in hindsight it is this privilege that has allowed America to print money instead of manufacturing it that has killed their economy. It has left America the biggest debtor nation the World has ever seen.
China has captured most of America’s industrial plant as well as a few other countries. China’s currency isn’t liquid enough to be The World’s Reserve Currency but I’m sure The Chinese wouldn’t want it if it destroyed their industrial base. That leaves the dilemma, how do nations trade amongst themselves without using The US dollar, or any single currency to become The World’s Reserve Currency.
THAT IS WHAT THE BRIC’S ARE TRYING TO FIGURE OUT???????????????? DT 🤣🤣🤣
That of course is where gold comes into play, every nation must have gold to back their currency so they can trade with other countries and there must be a system of transparency where nations that overprint money without buying more gold to back the extra printing are held accountable. DT
What I can’t understand is that the American people gets it served on a plate every day he opens his mouth, he lies. Lies about EU tariffs of 39% (more like 2,5%), lies about the rest of the world’s pretend tariffs, lies about the aid to Ukraine, lies about how he knows better than anyone on most subjects, lies about everything. You hear it, you see it. But you don’t protest it. How is that even possible? Trump is a proven charlatan, horrible at business, his hired people are not qualified to have any diplomatic negotiations with KGB officer and child murderer Putin (He hails him). He actually tries to blackmail a democratic country, Ukraine, which is trying to escape Americas arch enemy Russia, just to please Putin, who is destroying his own country yet is helped by the US to stay in power. Ukraine is fighting to save their existence and the world from WW3 and the president is more interested in helping Putin. A rotten, dictator. Yet Americans accept this conduct as if it is normal. What happened to defending the weak against tyranny? Home of the brave and land of the free?? When did that disappear?. You are actually trusting your future in the hands of conspiracy theorists and non-qualified people. How freaking uneducated and stupid has the people become? Was it all white trash and billionaires who voted for this revolting narcissist? He lied and you did not care. What happens when Europe gets weakened from the strain of fighting Russia alone? It’s not like we can afford to buy more stuff from the USA then. A strong, prosperous Europe would be able to but American made stuff on the other hand. But that takes cooperation. Just look at the 51 state atrocity, have you no shame? Cooperation is what has made America strong, not isolation and lies. The Signal debacle. You have become a laughing stock of embarrassment. How anyone can defend this clown is beyond stupidity.
They’re ALL charlatans ULF. So why the focus on his lies when his predecessors were just as brazen with their lies and even more damaging?
I hear you Ulf…..and I don’t disagree Matthew that they are all charlatans but would argue no one’s ever been more overt with their outright fabrications. The others were all subtle about it and made you work to see through their lies and agendas.
First of all; it’s just outright propaganda that Russia has any intent to take over Europe. Putin is smart enough to know what happened to the Soviet Union when they were geographically extended. He is only concerned about the protection of Russian people and their culture. If you know the history of Ukraine in relation to Russian you would know they were provoked into their military action. The west has no cards to play as related to Ukraine since Russia is clearly in control. If you leave Russia alone, Russia will leave you alone. Also, Europe is already weakened and it is due to the pathetic policy of that totalitarian European Parliament and Commission. They’re talking about “warfare” expenditures at the expense of their welfare and social programs. Do I feel sorry for their situation—not at all. When the European people allowed the European union to run rough shod over them with the policy lunacy pushed by their bosses, the elites, wef, and billionaires—and they said nothing—-they deserve to be in the situation they are. At least, they will now have to grow some cajones and more countries will divorce themselves from the European Union decision making and make their own decisions. It’ll be in their best interest to do that. And who do you think is pushing this increase expenditures in “warfare” equipment—just ask yourself who is going to make the big money by moving in that direction. Once again the plain folks will be the ones ponying up for this unnecessary scam. It’s no different then all the other scams put out by the oligarchy including “global warming”. How’s those high energy prices working out for Europe. Man, some folks are not very brilliant.
Well put Richard +1 & ditto.
Europeans seem to love their chains based on their attitudes toward freedom, individualism and natural rights. Pitiful.
Wolfster, the rest were easily worse but had the full support of the media so relatively few knew enough to talk about it. But of course that doesn’t excuse Trump’s bait and switch. Here’s an example courtesy of Ron Paul:
Last year, candidate Trump strongly criticized the Biden Administration’s obsession with foreign interventionism to the detriment of our problems at home. In an interview at the Libertarian National Convention, he criticized Biden’s warmongering to podcaster Tim Pool, saying, “You can solve problems over a telephone. Instead they start dropping bombs. Recently, they’re dropping bombs all over Yemen. You don’t have to do that.”
Yet once in office, Trump turned to military force as his first option.
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The rest is worth reading:
https://goldseek.com/article/president-trump-stop-bombing-yemen-and-exit-middle-east
Here’s another one that’s properly critical of Trump by Llewellyn Rockwell:
https://goldseek.com/article/great-tom-massie
Anyone buying yesterday? Fools rush in where angels fear to tread, and as Bonzo is a fool I bought some IRVRF@.14 and more BTG@2.64 Irving is usually very hard to buy but yesterday the trade executed in 1 second even though the ask was .144 and my bid was .14, all or none.
Bonzo, yes, I dipped my toe in the water and purchased. I believe next week will be even better and will continue to purchase on this beautiful pullback.
Glad to hear you were buying too. I plan to buy more next week.
Ulf: Perfidious Putin’s Two Wars!
There is War #1 being fought in the trenches of Belgorod and Donbass. That war is ongoing and will continue for some time. But when Trump and Putin talk about peace they mean War #2, which is the one being fought over energy resources, pipelines and refineries, and rare earth minerals too. That war may indeed have been concluded with a recent ceasefire. While #1 rages, Putin and Trump will start openly cooperating in the #2 sphere. ~ Slavlander (https://slavlandchronicles.substack.com/)
Wolf Ulf: are you saying you preferred our last brain dead president? The issues are deep and complicated.
The tariffs are just a negotiating tool. Everyone will relax the tariffs and the U.S. will be a manufacturing hub and be able to export free and fair.
The “liberation day” announcement was going to the gold standard. That’s why most assets dropped like a rock. The announcement of the gold standard will be in a week or two after the assets find a bottom.
Trump can’t announce the gold standard and have these assets fall apart. The gold standard will be “good news” and the assets get a good bounce.
It truly is/was, “ liberation day”.
Interesting view Chartster…. I still view it as delusional day…..and I don’t see the US ever returning back to a manufacturing hub…..and see a future where countries like Canada increase their trade globally and become less reliant on an unreliable trade ally like the US.
There is huge investment coming back to the states.
And Canada is going to be part of the states.
They already are issuing global bonds denominated in USD. That pretty much tells the story.
Chartster … You make bonkers remarks , the Gold standard is not coming back the bankers wont allow it , & no Canada will not become part of the US.. It would also take years for the US to become a manufacturing Country , Trump would be long dead before that would happen. His bullying tactic of tariffs will come back & bite him & America in the arce.
Chartster – Now at $3000, fully priced and fair, Gold could work using Fractional Reserve, as noted here: https://www.fibonomics.com/2025/03/american-dollar-gold-backing.html
BDC, can you share what metric you’re using to conclude that gold is fully valued? Based on M2, for example, it’s still undervalued.
Top chart on right:
https://goldseek.com/article/gold-aware-stocks-beware
Matthew – It’s a conclusion engendered first 25 years ago. A bogey target, based upon data available back then into current times. Most interesting was the spike low of Ausgust 2018, the last significant C point, after years of consolidation, which signaled the breakout. Updating weekly chart now. BDC
Monthly instead: https://www.tradingview.com/x/LsYT82S3/
If you consider gold to money supply the pricing should be much higher then $3000.00/ounce.
Doc – The problem of Wealth representation is resolved with Fractional Reserve Gold, such as here: https://www.fibonomics.com/2025/03/american-dollar-gold-backing.html – BDC
Hey DT. Was speaking to a Toronto based RE agent. She said after an initial slowdown at start of Trump term things have really picked up in the under $2M price range…….and the buyers are American……said the same thing happened last time Trump did his tariff routine.
Hi Wolfster, I have been reading about Toronto real estate and the hottest segment in this market are semi-detached houses selling for $1.5 million that are move in ready. That jives with what you are saying. DT
$1.78M semi with lots of work is the one I’m in. Original budget $300,000. Termites and DIY disaster moves and changes(more structural ones) has budget easily up another $50,000. Turning down other jobs cuz things are super busy. Weird environment really.
It’s funny if you do a renovation in a monied area like Forest Hill the homeowners insist on their neighbors getting the proper building permits but if you go into a middle-and lower-class area where people aren’t as educated or wealthy anything goes as long as they don’t get caught. Little do they understand that building, plumbing, and electrical permits that don’t cost that much protect them from unscrupulous contractors and save them money in the long run because the job is done right.
The upper classes understand that if everyone is made to get a building permit their neighborhood will reflect higher property values. DT
I wouldn’t be surprised if the Dow ultimately falls to 0.5 ounces of gold. Check out this 100 year megaphone:
https://www.macrotrends.net/1378/dow-to-gold-ratio-100-year-historical-chart
Following the 1929 high of over 18 ounces, the Dow fell to 2 ounces. Following the 1966 high of 28 ounces, the Dow fell to 1.3 ounces (the absolute low was 1.02 ounces according to stockcharts). The absolute high in 1999 was 44.5 which is more than twice the valuation reached at the 1929 top and 50% more than the 1966 top. We seem to be on the same path as the 1970s but 3 times longer. Compare:
1966 Dow:Gold: 28 oz
1974 3 oz
1976 9.3 oz
1980 1.02 oz
1999 Dow:Gold: 44.5 oz
2011 5.8 oz
2018 22.5 oz
today 12.6 oz and falling
Notice that 1974 and 2011 both represented almost 90% declines yet still were not the final lows.
I’ll guess that the final low will happen in early 2030.
Here’s an interesting look at the 1970s but I think only stockcharts subscribers will be able to see it correctly.
https://stockcharts.com/h-sc/ui?s=%24SPX&p=W&st=1967-01-16&en=1980-10-21&id=p82667688485&a=1946703303
Correction to the previous comment above: 1974’s 90% decline was not the final low but we obviously don’t know yet about 2011.
Here’s a non-log look at Tesla with some obvious potential supports (all well below 200):
https://stockcharts.com/h-sc/ui?s=TSLA&p=W&yr=5&mn=8&dy=0&id=p48910447288&a=1946722804
Watch that March low at 217.02!
https://stockcharts.com/h-sc/ui?s=TSLA&p=W&yr=5&mn=0&dy=0&id=p21193820531&a=1346434377
https://www.fibonomics.com/2025/04/vix-economic-treason-unveiled.html
VIX : Economic Treason Unveiled : Glass-Steagall Destroyed
https://www.tradingview.com/x/AOrYaTOa/
DOLLAR : Possible Bullish Gartley
this is exciting. I think I will load up on pm stocks in MAy or if the gold silver ratio hits 120.
there is no doubt that North American producers will benefit from Europe falling apart.
Canada won’t be the 51st state because I believe the conservatives will be elected this month. that may create an appetite for canadian bonds issued in C A D.
is there any comparable value companies like equinox with expense exposure in cad?
There are a lot of gold stocks I would like to load up but can’t buy them all. I was keenly interested in getting back in New Found Gold as it has been wasted, I was watching it trade yesterday but I’m still sitting and waiting to pounce. If this correction keeps going on and the margin calls have a big impact, I will put in a stink bid that may make you laugh but stranger things have happened. DT
But what about ‘sell in May and go away’? Roy-Byrne thinks we have an intermittent peak, and he may be right. We know what happens when the metals enter a side-ways consolidation: the minors drift lower. If we really have a peak for the next 3 months or more, a lot of these minors are going to get cut in half.
The Dow has erased 10 months of gains so far.
https://stockcharts.com/h-sc/ui?s=%24INDU&p=D&yr=1&mn=2&dy=0&id=p03870420694&a=1946749870
Matthew, what’s your take on when I might consider buying additional ETFs within the stock markets? I was thinking about dipping in next month to DCA, but wondering if we’ll see it keep going down through to June for US Treasury purchase timing? I’d appreciate your thoughts on where you see it going.
I think ‘sell in May and go away’ got moved up to early April. We all know what happens when the metals consolidate: the minors drift lower. If the metals are still consolidating 4 months from now, many of these minors will be cut in half.
I believe the pm stocks are done for the rest of this year. Most of them have probably seen their highs. One of the best charts to watch could be CDE (monthly chart). It looks like we’re back to trading ranges for the rest of 2025. However, I think 2026 could finally be the year where most of the PM stocks decide to break out.
Always in the future.
Silver 1980, 2011,2025 maybe another 14-30 years we will see close to $50 silver again.
I haven’t heard any news that The Bankers were meeting this weekend to discuss the economy. Trump hasn’t said whether he will be the chairman if they do, I get a sense that he thinks they should learn to just “Suck It UP!” LOL! DT C-R-A-S-H !!!!!! Maybe him and Vince McMahon should get into the ring and duke it out! 🤣🤣🤣
Don’t know when this was recorded but old news today, thought this interview would be pulled and do live interview or re do it on Thursday to give us more details on what is happening and what might be ahead.
Didn’t anyone see to this coming, trump been pushing tariffs threat and reciprocal tariffs for weeks, been hearing many analyst talking about crash if trading war start, anyone that been in involved knows what could happen in miners if stocks crash, another missed opportunity to be in front of these types of possibilities, we always hear after fact, then oh we sold and took profits and took money off table, embarrassing interview today was looking for better information today.
At least I sold and took profits and got out of lot more positions as early as I could on Thursday.