2 Charts Worth Noting – A Key Juncture For Gold, S&P Topping?
Below are 2 very interesting charts presented by our friend Chris Kimble. The first chart is comparing some of the recent price and momentum action in the S&P to the tops of 2000 and 2007. The second chart is a key juncture for gold vs USD. If it fails to hold we could be in for a much longer bear market.
Chart 1
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Did the topping patterns in 2000 & 2007 have anything in common? Yes! While the S&P was hitting nominal new highs in 2000 & 2007 at each (1), monthly momentum was actually heading lower at each (2).
Of late the S&P is hitting new highs, while monthly which was recently higher than the 2000 & 2007 peaks has been turning lower.
Chart 2
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This chart looks at the US Dollar/Gold ratio on a monthly basis over the past 25-years. When the ratio peaked back in 2000/2001 the great bull run for Gold and Silver got started. The bull run for metals continued until the ratio bottomed back in 2011, at the bottom of falling channel (A).
After hitting support in 2011, the ratio started heading higher, creating the rising channel (1). The 7-year rally in this ratio and 7-year bear market in metals is experiencing a monster important price point this month at (2).
The ratio is testing the top of 17-year falling channel (A), which comes into play as resistance at this time. As the month is coming to a close, the ratio could be creating a bearish reversal pattern (bearish wick) at (2).
Metals bulls need and would LOVE to see the ratio peaking at (2). If it does peak and heads lower, it could reflect that the end of the 7-year bear market for metals could be forming.
Educational topics: (you may need )
Corona (Satellites)
The Corona program was a series of American strategic reconnaissance satellites produced and operated by the Central Intelligence Agency Directorate of Science & Technology with substantial assistance from the U.S. Air Force. The Corona satellites were used for photographic surveillance of the Soviet Union (USSR), the People’s Republic of China, and other areas beginning in June 1959 and ending in May 1972. The name of this program is sometimes seen as “CORONA”, but its actual name “Corona” was a codeword, not an acronym.
GCHQ (Bude, Cornwall) Regional Hub which coordinates with NSA, now down
Currently underway is a military coup of the CIA and NSA…..
Slowly, traitors will be taken out, (I think)
Canada, U.S. break up NAFTA talks, Trump’s comment sours mood
https://www.reuters.com/article/us-trade-nafta/u-s-canada-slug-it-out-as-deadline-looms-to-clinch-nafta-idUSKCN1LG1DM
Matt…….are you going political on us………….. 🙂
Give me a chart…….you are to good a man to get involved in this political bs……. 🙂
just joking, ……. jootb……slow week….
wow……it think , I may have poked the sleeping giant………. I will take what I deserve… 🙂
it to I…..
I’m just an amused spectator, Jerry.
The world has gone political on all our asses! 😒
AND that is the TRUTH………..Matter of fact, that is well said………..love it… 🙂
Unbelievable, FBI, CIA anti-Trump collusion…..
Heads need to roll.
Jeffy The Sessions….needs to depart ASAP…….I bet he is not there this time year….
GOVn Brown, California …….can release 700 death row inmates on the citizens , I bet , that will go over well…….
Loonie Tune……….Wonder what Sessions thinks about that……..700 Club……lol
I suspect he (Sessions) will be there in a year.
My feeling is that he is slowly playing out the rope by which a number of senior FBI and DOJ officials will hang themselves.
I could be wrong. Time will tell.
Yep,……….time will tell……….
If, he is playing 3 D chess , then he will be there……..maybe Mueller will get what he deserves…….along with the Other Low Lifers……..
Low Life Lois………….lol
Lois……..and the Tea Party, will remember her, for the low down stinking individual she is…….JMO
Tyler Jenks calling for a 40% blow off top. So Core, when you gonna get Tyler Jenks on your show from Lucid Investments?
USAWatchdog week wrap:
https://www.youtube.com/watch?v=rj3h662P4aA
Considers HRC Treason +