The Dollar Rally may accelerate now
Cory and Chris discuss the early week market action; most notably, interest rates and the accelerating rally in the U.S. Dollar Index. Especially with signs of the opposite attitude from the central banks of both Europe and Japan again, the Fed’s hawkishness may put more steam back into the dollar than investors expect. Chris discusses the ways in which the present bogging-down in the markets is similar to 1994; and also the risks it could be more like 2007.
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Gary is a 50% guru…………half wrong, half right………but, I like most of his comments.
Both Gary and Bob have a 50% chance and that is what I like about their particular business.
I agree with Bob and Gary.
Today was for buying the miners… with a little sugar on top.
http://schrts.co/Ek6n3V
SLV:GLD is filling a big gap…
http://schrts.co/Yf2aa3
Lots of black candles off of the low. I wanted to believe that we would never go back but it looks like we are going to head back to the lows in time. Whatever.
Bitcon……………to $700,000…………….
https://www.zerohedge.com/news/2018-04-23/john-pfeffers-ira-sohn-pick-bitcoin-700000
Cryptocurrency Stocks are Back from the Dead
by @currencyfrontier on April 23, 2018
https://ceo.ca/@currencyfrontier/cryptocurrency-stocks-are-back-from-the-dead
THis says it all,,,,,,,,,,,,,what did I say, I can not remember………LOL
https://www.zerohedge.com/news/2018-04-23/kunstler-america-has-become-alzheimer-nation
America has become Alzheimer Nation. Nothing is remembered for more than a few minutes.
The news media, which used to function as a sort of collective brain, is a memory hole that events are shoved down and extinguished in. An attack in Syria, you ask? What was that about? Facebook stole your…what? Four lives snuffed out in a… a what? Something about waffles? Trump said… what?
Yet more pessimistic news!
More enlightening , than pessimistic……good thing to be awake………
Well, the fluoride is working..
Demoralizing action in the metals. You know there is probably plenty more to come.
Good article.
In knowing that should President Trump succeed in turning America back towards its historical Christian roots, this report continues, these demonic globalists rightly feared that their satanic agenda of destroying the family and substituting in its place government, promoting degrading deviant sexual lifestyles, and eradicating the entire history of the United States would be ended—and that meant Trump had to be completely destroyed, along with President Putin and Russia too—and whose satanic forces being used to accomplish this destruction are being led by the demonic globalist sexual deviant elites occupying the highest places of power in both Hollywood and American’s giant technology companies.
OBAMA was really BAD NEWS…..
Even the Black are now seeing through his bs………..I doubt HOLTER stands a chance on running in 2020
from 1997…………they knew before………911……
DITTO ON GOOD ARTICLE
I thought you might like that, OOTB.
That article explains 1 of the 3 prong approach plays that the unseen war is being faught over. The other two plays are control of money and the other, control of sovereignty.
We need more than ever, ………to stay on these issues…….thanks again…….
The dollar does look like it can go significantly higher from here but I doubt very much that us big-picture bears have much to worry about.
UUP breakout:
http://schrts.co/VWuBQV
Trump says no………I bet…….dollar must be weak……
just thinking , not a contradiction
Here’s an interesting Dollar Index chart from a contributor over at ceo:
@PamplonaTrader – “In my view, $DXY bearish until it can get over 200 day average at 92. False break out over 91 perfect for bull trap?”
PMs dont need this… Yawn, silver now over $3 from the $20 range. Status quo is in place.
It is very status quo isn’t it. We are getting close to the “Sell in May and go away” period followed by the “Summer Doldrums”. I expect the fireworks to be in the Fall.
Until then…..the grind must go on…..
Gold Futures – 20 Year Seasonality Chart ending 12/31/2015:
http://charts.equityclock.com/seasonal_charts/futures/FUTURE_GC1.PNG
I have mentioned this too Excelsior. Yes the grind continues. The question is, can the PMs limit the damage during this “down time”? Otherwise it just appears to be an endlss loop of going in circles. Mind you, that is not entirely true when one looks at gold over the least 3 years. Frustration can distort reality i suppose.
Yes good point that for many “frustration can distort reality” and this is what leads to a drop in sentiment, much like over-zealous investor enthusiasm can lead to overbought bullish sentiment. People are very emotional, and rarely look at things dispassionately and logically.
As for the last 3 years, things look much better in Gold than most realize, and the metals have put in a rounded or saucer bottom over the last 5 years, with the major low being in lat 2015 at $1045.40 in Gold. This morning Gold is trading around $1327 which is substantially above that level, and it was up near that $1360 knife-fight level again just last week, and is still much closer to taking out the 2016 surge high of $1377.50 than making a new all-time low. In addition, gold has put in a pattern of higher lows since that major bottom in Dec 2015, which is actually quite bullish, but the real impulse leg to a higher high has not started yet.
Gloomy investors are also forgetting that Gold just put in a higher high in 2018 @ $1369.40 than it did in 2017, which is also constructive for the longer term.
On a medium to longer-term technical basis there is nothing to be concerned with, albeit on a shorter-term basis a little more pain could be in store. I’m focused on the big picture for how it will effect the miners I’m positioned in, but cognizant that there could be some weakness in the coming weeks and months, which is likely the last good time period to add a bit to the miners one likes in their portfolios.
Cheers!
A 5 year daily Gold chart puts things into perspective:
The ADX on the daily gold chart is about to make an important cross. Gold should continue its downward move. The BBands on the weekly chart are tight and about to bust open. This move down (where ever it stops, I think the 200 day MA 1235’ish) will be the “buy”.
1235, wow that would hurt gold no doubt. I wouldnt be surprised, but I dont think we will get there in this current shakeout.
As long as Gold stays above the last “higher low” of $1238.30 then it will just be Gold putting in another ‘higher low”. I’d be surprised to see Gold dip below 1235 anytime soon.
Agreed, it would be concerning if it broke below the uptrend line around 1265.
Yes, It would be better if that didn’t happen, or at least bounced off the uptrend line.
I doubt very much that gold will get anywhere near 1238 and consider it bullish that so many bulls are so negative.
About 12 weeks and counting…
http://schrts.co/TJR242
GLD weekly:
http://schrts.co/jbdr4J
Yes, I’m not attached to the price, but I am attached to the timing. Late May to mid June looks good from a cyclical perspective.
Well Morris Hubert who has been pretty darn accurate lately expected AEM to build out a right shoulder of an inverted H&S, and it looks like we are doing precisely that right now. Of course, there is still plenty of leeway on the down side from here to match the left shoulder, but the shoulders don’t necessarily have to be equal in amplitude.
The GCC monthly BBs are as narrow as it gets. They are currently about as wide as the average monthly candle over the last year. Something has got to give soon.
No podcasts?
Well, both Bob Loukas and Gary Savage think this is just a move into a daily cycle low in gold, which I presume means it should hold above $1303, and that this is the final shakeout before the breakout. Well, I will say this is one hell of a convincing shakeout.