Yield Tops = Market Tops… 4 Charts That Perfectly Point This Out
Chris Kimble is one of my favorite chart analysts. He presents the charts in a very straight forward manner and carries no biases when projecting forward. Today Chris and I look at yields across the board and the general rollover that has occurred. These rollovers have come right at a long-term downtrend line which was last touched in 2000 and 2007. Check out the charts below and let us know what you think.
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Here are the chats we refer to in order of the discussion.
4 Pack Yields
10 Year Yield Inverted
2 Year Yield and the Dow
Russell 2000 – 30 year chart
SILJ made a swing low this week. Minimum target I would have would be the 20 WMA, which is declining. The weekly stochastics are still buried in oversold territory, which means that if it does continue upwards, it has some room to run.
Some of the large cap gold miners had very good days today–AUY AEM etc. I don’t really follow gold juniors but I am assuming they have done better than silver juniors. I’m not sure when the tide for silver juniors will turn vs gold. In the very short run (i.e. the next few weeks), there is no doubt that they could outperform, but their weekly charts look like it may be a while before they truly re-assert themselves.
HL putting in a doji candle this week and what’s more, the body is black. Not exactly auspicious. In contrast, AG and EXK made swing lows and had bullish looking candles this week.
There is an inverse h&S on $gold that has been triggered and projects to basically $1280.
AUY hasn’t closed over its 200 WMA in 5.5 years. It’s time.
Spanky:
Thank you for taking the time to provide some good comment on these markets. I for one appreciate it.
Agree. Nice to see you commenting again Spanky. I appreciate your views even if I don’t always agree. Your call/analysis earlier this year for more downside in the precious metals was pretty accurate IMHO.
Thanks to Cory for having Chris Kimble on. He always has some unique and thought provoking charts to share.
Been making bank like it’s going out of style on UVXY and TVIX this month.
Cool is the way BUY whit Brains ! Only GOLD and Silver ! Macron ! https://www.youtube.com/watch?v=ZkNUbgKPRCM
BUY GOLD ! https://www.youtube.com/watch?v=YIncquNGoPI
LUK diss USA ! https://www.youtube.com/watch?v=gykVAujo1QM
I am still in the camp that GDX could come back down to test the crossover point of the 50 and 100 dma soon, which should occur around December 12.
And even if GDX runs higher from here and manages to tag its 200 dma straight away, I still think it comes back down to test the 100 dma weeks from now.
No way the banksters are going to make this easy. I hope I am wrong and we just continue to move higher but I think there is very little chance this ends up looking like January 2016. What I absolutely would not want to see is the 18.70 level closed below.
Silver miners are a completely different kettle of fish, IMO. They don’t have the defined base that GDX has created and thus could act more erratically, both on the upside and downside.
I’ve been saying that it would be a big deal if gold could take back the 200/233 and 600 week moving averages and now it has. Interestingly, this event coincides with this:
Michael Oliver Just Predicted Gold Will Take Out 5 Years Of Highs In 50 Trading Days
https://kingworldnews.com/michael-oliver-just-predicted-gold-will-take-out-5-years-of-highs-in-50-trading-days/
Great article…..
from Oliver……
thanks
I thought this interesting to go along with Oliver………
Posted December 8th, 2018 at 11:06 AM (CST) by Jim Sinclair & filed under General Editorial.
My Dear Friends,
In the last week, certainly today, gold acted as the “alternative asset”, to hold value and increase in price in the midst of equity market debacles.
This has not gone unnoticed.
It has been wrong to buy gold on break outs for years, but today I sinned. I increased my position by 50% in gold itself.
Jim Sinclair
Executive Chairman
He’s right, there’s no way it has gone unnoticed!
Just about timing
https://www.zerohedge.com/news/2018-12-08/everything-bubble-has-popped
just about timing
https://www.zerohedge.com/news/2018-12-08/everything-bubble-has-popped
We’ve never seen anything like the current bubble we’re in. Stocks, bonds, real estate, fine art, you name it — nearly everything has been inflated to all-time highs. When this Everything Bubble pops, the pain is going to be epically calamitous………per the article
The hallmark of a bubble is that almost no one believes it’s a bubble and the “this time is different” crowd was out in force in 2018…
http://schrts.co/BgaKU8
I would have to agree…….”no one believes it’s a bubble..”
Gold ended the day below some short term fork resistance that probably won’t hold it back for long:
http://schrts.co/Q9kdMR
This one points to more upside very soon:
http://schrts.co/4JEHtt
It is very likely that this large double bottom will activate:
http://schrts.co/4QtqDZ
I said recently that if TLT goes up, so will gold – and it has.
http://schrts.co/DYNGKo
New low for SILJ:GDX sets up a fantastic opportunity:
http://schrts.co/SFGwHj
GDM looks great on the weekly chart:
http://schrts.co/FMivcH
If it can finish the month above 588, the move to 1000+ will accelerate.
The CRB had a big day but was clearly capped by fork resistance at the close…
http://schrts.co/erZLnV
Next significant resistance for GDX: 21+
http://schrts.co/fGFRVH
USAS is finally a good deal but was unable to get above an important resistance this week…
http://schrts.co/QA3Ay5
IPT has nearly tripled versus USA since the lows of about a year ago and has smoked most other silver plays:
http://schrts.co/R7W2Qf
IPT:AXR:
http://schrts.co/sq86cS
I’ve been very patient with USAS and waiting for this opportunity. The charts look like USAS does not have much more on the downside in the near future and I think I will finally put in a position. Not investment advice for anyone.
Lowest close in 15 months for the NYSE composite index…
http://schrts.co/K2kSbV
Also lowest weekly close in 15 months…
http://schrts.co/Xxtkyj
I think GCC (unweighted commodity complex) has bottomed.
When it broke below its 100dma a few weeks ago, I was not sure, but today’s large reversal was all I needed to see.