Rick’s assessment of US equities and the gold market
Rick Ackerman joins us to outline his thoughts on the recent moves up in the US equity markets. We then move into the gold market which when recording was just above the intraday low back in July… Gold has since broken down further.
Click download link to listen on this device: Download Show
If gold prices make a new low below Rick’s hidden pivot @$1044/oz. below the previous peak of $1033.20 at the summit of the Wave One extension, then that means the gold bull has long since been over. Very certainly mining stocks are set for new lows,
If , however interest rates decline below inflation, and the 1033 level is not exceeded, then the bull market is still alive.
Son it will be time to adjust the enumeration at the bottom of the ‘4’ wave:
We sure are in a jar of pickles!
We often hear about the idea of a final bottom. But the question I am asking is “what is this idea based on?”
Fundamentals? It seems they haven’t mattered for a long time.
Technicals? I remember pretty much all of the folks doing interviews here, saying last spring how they expected a low for gold in summer and no later than the Fall and then the bear market would be over, the lows would be in, more than likely once and for all, and an inexorable climb would commence (to roughly paraphrase). Remember?
But gold keeps going down, and down, and down – in the face of apparent robust global demand.
Why is this? It appears that the amount of synthetic gold is continually increasing. It’s the equivalent of diluting share holders. As long as the dilution continues, the POG should not be expected to ever bottom.
Right? Thoughts?
Rick Ackerman has the clearest view of what is going on in the global market. Great stuff! Thanks.
DITTO OWL………
Al-I watched an interview on CNBC where the question was will recent events in Paris cause the FOMC to postpone a rate increase? If the FOMC was determined to raise rates this interview would never have happened.They appear to be ,at best,uncertain about what they should do.I can only conclude that there is total confusion at the FOMC. Will the markets not soon recognize this?