This first precious metals combo chart is one I try to show you at least twice a week, so you can follow the price action as it’s unfolding in real time. Except for SLV the other indexes have now traded below their respective neckline for...
I would like to update the INDU (DOW Index) we’ve been following, which continues the upside move since the night of the US elections. Keep in mind some of these consolidation patterns began to form back in 2015 which had nothing to do...
For the last two weeks, since the US elections, we’ve been discussing the possibility of strong inflection points building out on many different areas of the markets. These are areas where the markets can turn on a dime leaving those...
The inflection point in many of the different markets still continues to develop. The precious metals complex is approaching a very critical backtest to some important necklines we’ve been following. I added the GDXJ to the combo chart...
I know some of you are wondering why I didn’t post many charts today. The reason being, when there is extreme volatility one can get whipsawed to death getting caught on the wrong side of the whipsaw. My experience has been to let things...
Now is a good night to post one of the ratio combo charts we’ve been following for a very long time, which compares the TLT:GLD ratio to the GLD. Below the ratio chart is a ten year weekly bar chart for GLD. There are many ways to analyze...
Tonight I would like to look at some gold charts as it has been showing some relative strength since October. We can even go back to February of this year which shows a possible big diamond consolidation pattern building out. Regardless...
Back in September we looked at a possible morphing Diamond pattern on the GDXJ in which the dashed trendlines were showing the original Diamond. When it started to morph into the bigger Diamond I added the two red circles that showed the...
This past week there was some panic selling in the PM complex, which is what we need to see happen to put in an important low. The HUI hit the 50% retrace at 195 for this first leg up in its new bull market, just under 200, which is an...
I would like to start by looking at our current bull market in the HUI. I’m going to try and show you how our current setup is what one would expect in a bull market. A stock or stock market does one of three things. First, it’s building...