Balancing The Rally In Gold vs US Markets
David Erfle, Founder of The Junior Miner Junky joins me for a focus on the rally in gold and the US markets. Both rallies are being considered long in the tooth but which one rolls over first. With how slow the move up has been in gold it could limit the downside. David shares some of the levels he things gold and GDX pullback to then rally from.
Click here to visit David’s site and at the least sign up for him free email blast.
Black Hawk Down……third world ….at best….
Okrah wants Butto O’Dork…
Hickenlooper……..I thought Red Skelton made that name up.
ormer Colorado Gov. John Hickenlooper will be in South Carolina this week,
Another BIg Mouth……just wants more money….
We are not going to War….
https://www.zerohedge.com/news/2019-01-30/armed-services-committee-chairman-warns-us-and-china-headed-world-war-iii
Some real dumb remarks by Bof A……
https://www.zerohedge.com/news/2019-02-05/bank-america-powell-has-boxed-himself-corner
The Fed is Not Boxed in…..
Really Dumb remarks…….Bof A
https://www.zerohedge.com/news/2019-02-05/bank-america-powell-has-boxed-himself-corner
Just going to take longer for them to think of another plan….to sucker everyone …I am sure they can find another 300 Million people in the world …..
I have a different take on gold. I think its downside is limited to a short term move to no less than 1295. It has already become overbought on the daily chart and is near overbought on the weekly chart BUT, unlike the 2016 setup, the monthly chart is lagging the weekly by roughly four months with respect to MACD buy signals. The weekly and monthly signals were in sync in ’16 and that is probably part of the reason the sector went straight up. This time, however, the monthly MACD is just now giving its buy signal while the weekly MACD did so in October. Just as the weekly chart trumps the daily, the monthly chart trumps the weekly. So weekly scale pullbacks will probably be shallow and brief as the monthly chart “pulls” the weekly chart into its most bullish looking (and overbought) run in many years. I know that will be met with more than a little skepticism after the years we’ve just experienced but we do have the setup.
Bull markets have to start somewhere and they don’t tip-toe into view when they do.
Monthly gold (for stockcharts subscribers):
http://schrts.co/PqjVhRRE
The miners are up while the metals are down and I’m not surprised in the least. The strength in the miners has been obvious for many weeks despite what the wannabe bulls have been saying.
http://schrts.co/ifGPdckz
The chart I posted on 1/29 looks rather perfect now:
http://schrts.co/ahtRkdWu
Golden Fibonacci arcs:
http://schrts.co/EqvhYNGN
(SGI) (SUPGF) Superior Gold Inc. Announces Fourth Quarter and Full Year 2018 Detailed Production Results
by @newswire on February 5, 2019
Chris Bradbrook, President and CEO of Superior Gold stated: “With the successful completion of construction at our second mine—Hermes, which was built on time and on budget in 2018, we were able to reach record production of over 90,000 ounces of gold for the full year.”
https://ceo.ca/@newswire/superior-gold-inc-announces-fourth-quarter-and-full-e9d5f
Ready for civil unrest………….
LA STYLE>>>>>>>
https://www.zerohedge.com/news/2019-02-05/us-military-holds-unexpected-war-drill-downtown-los-angeles