Tonight I would like to update some of the precious metals stock indexes as they have been basically consolidating for the last couple of months. This has been healthy for this sector which has been on fire since the middle of January of...
There are two patterns I’m watching very closely on the HUI, which will be a proxy for the rest of the PM stock indexes. This first chart is daily chart which shows the three small consolidation patterns that have formed since the January...
There are several times a year when the markets gives you an important inflection point. Today I believe we just witnessed one in regards to the PM complex, the US dollar and the stock markets. Even though the US dollar didn’t have an...
Below is a long-term weekly chart we’ve been following which shows the breakouts and back-testing that have been going on for several months with GLD and SLV, and just 5 weeks or so for the HUI. This big picture look from 35,000 feet shows...
The first point I would like to make is that many of you are probably wondering how I could reverse my long-term bearish view on the precious metals complex to a bullish view in such a short period of time.
Below is a two-year daily chart for the HUI which I first showed you when it broke above the double bottom hump to start its bull market. I call this chart the Reverse Symmetry chart as shown by the red arrows. How a stock comes down,...
In mid-January of this year, it looked as if another leg down was in store for the precious metals complex. Most of the precious metals stock indexes broke down to a new bear market low which I was expecting, as I was looking for that one...
Below is a daily chart for the HUI which shows one of the original patterns that formed what turned out to be a Diamond Reversal pattern to the upside. There are at least several more reversal patterns that formed at this most important...
As the consolidation phase continues to build out from this first impulse move up in the precious metals sector, let’s review some of the charts we’ve looked at previously that suggested the bear market might be over. Most of these charts...
Today I would like to show you some more charts on some if the different stock market indices we looked at in the last Weekend Report. Last weekend we looked at a lot of the bull market uptrend channels that are still in place since the...