US markets and the current relationship with precious metals
Today with Doc we take a look at the pop in the US markets and how the precious metals are managing to hold. Understandably the technicals for the equity markets continue to look strong but we are getting to extreme levels especially on the long-term monthly chart. The real take away is how Doc thinks that gold will not be impacted too much by the markets in the near future.
Click download link to listen on this device: Download Show
Maybe now is the time to really get out of the way, two days ago Bob M said we were at a Top, you know how closely he predicts “Tops and Bottoms”. DT
The daily chart of $INDU sure looks like a blowoff top to me… And it comes at the end of a long term credit cycle… I guess investor sentiment is right where it’s supposed to be?
Good comments Doc and Cory.
https://cc.talkpoint.com/bmoc001/022717a_as/?entity=14_Y080CY4
Silver Wheaton at BMO
The Euro Crisis – Dow & Gold
The rumors are flying in France and the conservative candidate Fillon denounces a probe now into corruption. Fillon now vows to fight on to the end – not good for he has placed himself above the country making this personal. His top aide just resigned and Fillon was summoned to appear before investigators on March 15 to be placed under formal investigation over allegations that he paid his wife hundreds of thousands of euros of public money to do very little work if any at all.
This corruption scandal of career politicians in France is opening the door for Le Pen and now we have France, Netherlands, Spain, Italy, and Greece all moving toward exiting the EU. With the ECB holding 40% of the national debts of the Eurozone countries, it looks like the Euro is on borrowed time. The outcome is simply inevitable.
This European crisis is pushing up the Dow and capital flows from smart money is starting to vacate Europe headed into the Dow for that is where “big money” always hides. Of course, domestically, they are attributing this as always to just local issues now praising Trump’s speech as optimistic. Trump’s speech was widely praised for its positive tone outside of mainstream media, which is increasingly becoming irrelevant in the real world.
Meanwhile, if gold closes above 1242 today, it can also rally again, but it avoided the Monthly Bullish Reversal so it is still showing there is inherent risk just yet.
https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/the-euro-crisis-dow-gold/
Goldman saker …..someone just got canned at the FX desk…..not need anymore?
Robin Brooks is quitting……sure he is………..
Sold my Qcom 3 cents from the top at 57.05 near the close when it spikes up. Bought 7 cents from the bottom at 56.35. One of the easiest ones to trade.
Was it Dent that said dow 30k a few years ago?
Dow 36000 – James Glassman
If this guy was in the market…..and most traders are, he must have been on the short side: http://www.zerohedge.com/news/2017-03-01/prominent-hedge-fund-trader-jumps-his-death-manhattan
My opinion is that the existing PM prices relative to total currency or debt is a fiction.
Prices are based on the opinion of a small group of people and not correlated to anything like currency or debt. Then there is all the paper metal trading that is just paper trading and not backed by metal ounce for ounce and is something that can be settled in cash backed by debt and not metal. The whole system is a politically correct farce.
obviously like your web-site however you have to take a look at the spelling on quite a few of your posts. Several of them are rife with spelling problems and I in finding it very troublesome to inform the truth nevertheless I will certainly come again again.
http://pashatuks.com/index.php?do=/blog/102243/cooking-websites-easy-recipes/
If this market crashes Trump will get all the money he needs to build infrastructure.