Watch The Fed Press Conference Live – Starting at 2:30pm ET

I will be watching as well. Share your comments below.

Chris Temple and I will be chatting at the market close breaking down what we thought and addressing some of the comments made below.


Comments:
  1. On January 30, 2019 at 11:39 am,
    Snowy says:

    This might of been what gold needed? Not too far away from breaking out. Be interesting to see if we are finally able to get that 1370 these next few weeks/months

  2. On January 30, 2019 at 11:44 am,
    Matthew says:

    We’re getting some of that “melt-up” that I said was possible in the miners. Now let’s see if it results in a short term top on this Fed day or if it keeps on going. The sector is becoming short term overbought but there is a lot more strength in it than many observers recognized.
    http://schrts.co/nxwQYbaC

    • On January 31, 2019 at 6:27 am,
      spanky says:

      none of the silver miners I own (AXU, AG, EXK, ISVLF) have even exceeded the high from 3 weeks ago. That’s pretty sad. At this point I wouldn’t be shocked if they make new lows once silver rolls over. I am not expecting it, but it wouldn’t shock me either.

      At least my AUY is making new highs, but that is my only gold miner exposure.

      • On January 31, 2019 at 6:48 am,
        spanky says:

        Maybe if I continue to fret, the miners will keep going up.

  3. On January 30, 2019 at 11:46 am,
    Matthew says:

    Looking at the dollar (UUP), there’s no reason why further gains can’t stack up quickly…
    http://schrts.co/ArhewGJj

  4. On January 30, 2019 at 11:48 am,
    Matthew says:

    Loonie holders of the Canadian currency should be pleased with the action:
    http://schrts.co/HKuYnrmG

  5. On January 30, 2019 at 12:05 pm,
    Matthew says:

    GDXJ broke out a month ago but not many noticed or believed it.
    http://schrts.co/wvHzcBAr

  6. On January 30, 2019 at 12:09 pm,
    Matthew says:

    Gold is up very nicely since bottoming in August but you wouldn’t know it considering all the naysayers and their confident warnings.
    I expect silver and the miners to do a lot of catching up in the weeks and months ahead.
    GLD
    http://schrts.co/mFMpgcee

    • On January 31, 2019 at 6:36 am,
      spanky says:

      Gold is a no-brainer now that it has cleared its weekly Ichimoku cloud, with risk down to $1270, which I am not at all confident will ever get tested.

      Silver and the miners have yet to break above their weekly Ichimoku clouds, as is the case for GCC. They all have a few more weeks to explode through the cloud. I think it will become measurably more difficult by the second week of February IMO.

  7. On January 30, 2019 at 12:11 pm,
    Matthew says:

    SLV is through its upper weekly Bollinger band again (that’s strength):
    http://schrts.co/YJpBdxAI

  8. On January 30, 2019 at 12:50 pm,
    Matthew says:
    • On January 30, 2019 at 12:52 pm,
      Matthew says:
      • On January 30, 2019 at 11:40 pm,
        Charles says:

        Thanks for the charts Matthew. I especially liked GDXJ. Brixton looks like it is tuning up after its long consolidation. I just doubled my position last week. Anxious to see where it goes.

        • On January 31, 2019 at 8:32 am,
          Matthew says:

          The daily chart looks good and I noticed 238,000 on the bid at .18 (Venture Exchange):
          http://schrts.co/GexBvysR

        • On January 31, 2019 at 8:38 am,
          Matthew says:

          The weekly chart looks great; let’s see what it does when it gets to “P”…
          http://schrts.co/VmwPdsmu

          • On January 31, 2019 at 9:23 am,
            Matthew says:

            The P is part of the reason that IPT was sold so hard after hitting .35 a few weeks ago:
            http://schrts.co/FsTqkkRa

          • On January 31, 2019 at 9:24 am,
            Matthew says:

            GDX gives us a glimpse of our junior miners’ future:
            http://schrts.co/HVEiQIay

          • On January 31, 2019 at 9:26 am,
            Matthew says:

            Back from the dead!
            http://schrts.co/ZgYRbUUR

        • On January 31, 2019 at 4:40 pm,
          Charles says:

          Thanks Matthew. I don’t own Scorpio and don’t know anything about that company. IPT seems like it has to consolidate some more before moving higher. Seems like a lot of push and pull right now between buyers and sellers. AXU certainly has gone on a nice little run.

          • On January 31, 2019 at 6:21 pm,
            Matthew says:

            AXU is having its own “P” moment but I think it will get through it easily and probably tomorrow:
            http://schrts.co/FSrhfVdQ

        • On February 1, 2019 at 7:56 am,
          Charles says:

          For some reason I can’t read that chart, but thanks for the comment all the same!

  9. On January 30, 2019 at 12:59 pm,
    OOTB Jerry says:

    Joke of the Day…….Jamie says he would not mind paying higher taxes……..
    of course not….the moron can just have his friends print his share…….Jerk…..
    https://www.zerohedge.com/news/2019-01-30/jamie-dimon-has-no-problem-paying-higher-taxes-there-just-one-catch

    • On January 30, 2019 at 12:59 pm,
      OOTB Jerry says:

      END THE FED……..FAKE MONEY ….

      • On January 30, 2019 at 1:01 pm,
        OOTB Jerry says:

        Constitution says…….We can Coin our own money……we do not need a money changer..ie FED …..when are we going to learn….

        • On January 30, 2019 at 1:58 pm,
          b says:

          Count on people Not learning.

          • On January 30, 2019 at 3:00 pm,
            OOTB Jerry says:

            If, you know it, Train up a child, then eventually, the jig is UP……..the Con men, have limited time…..as long as there are still educated men…..to pass it on.

      • On January 30, 2019 at 4:25 pm,
        Chartster says:

        Trump will end the fed.
        Gold standard coming.

    • On January 30, 2019 at 1:18 pm,
      Ebolan says:

      Hey Jerry,

      Nimrata will come speak to you and it will only cost you $200,000. What a deal! (Of course you will have to supply a private jet.)

      https://www.cnbc.com/2019/01/30/ex-un-ambassador-nikki-haley-charging-200000-per-speaking-gig.html

      • On January 30, 2019 at 3:01 pm,
        OOTB Jerry says:

        I got NIkkies Game…………..

        • On January 30, 2019 at 3:02 pm,
          OOTB Jerry says:

          Continue the game as long as the sheeple have not figured it out…….
          I think I am going to join the John Birch Society……..Locally, the are HUGE….lol

          • On January 30, 2019 at 3:02 pm,
            OOTB Jerry says:

            Forget the lol,……I might be serious………

        • On January 30, 2019 at 3:04 pm,
          Ebolan says:

          So what could Nimrata possibly say that would be worth $200,000 and the use of a private jet?

          • On January 30, 2019 at 3:11 pm,
            OOTB Jerry says:

            Same thing hilly had to say…………Pay and you can Play……….lol

          • On January 30, 2019 at 3:11 pm,
            OOTB Jerry says:

            All the same BS……..it worked in South Carolina, and it will work again on the big stage.

          • On January 30, 2019 at 3:13 pm,
            OOTB Jerry says:

            Remember her back ground is accounting…….and she might fudge the numbers…….and accounting is not an exact science………LOL…..Black Budget ..NO Budget…….

          • On January 30, 2019 at 3:14 pm,
            OOTB Jerry says:

            Why do you think the IRS……has 75,000 pages , …..for the little people……lol

          • On January 30, 2019 at 3:15 pm,
            OOTB Jerry says:

            IS Hilly in JAIL YET………….

          • On January 30, 2019 at 3:16 pm,
            OOTB Jerry says:

            How about some TERM LIMITS…….and no repeat customers ……..and no revolving doors.

          • On January 30, 2019 at 4:37 pm,
            Ebolan says:

            Remember her back ground is accounting…….and she might fudge the numbers…….and accounting is not an exact science………LOL…..Black Budget ..NO Budget…….

            Exactly. If you asked her, “How much is 2 + 2?” she would ask “How much do you want it to be?”

  10. On January 30, 2019 at 1:04 pm,
    CFS says:
  11. On January 31, 2019 at 6:41 am,
    spanky says:

    AXU’s 200 WMA will cross above the 300 WMA this week or next it looks like. That cross over level is $1.15, and it looks like that number is almost guaranteed to get hit, maybe even today (looks like it just opened and tagged $1.14).

    I have been looking forward to that cross for literally years!

  12. On January 31, 2019 at 6:46 am,
    spanky says:

    GDX and GDXJ are getting very close to breaking above their weekly clouds. It would be a super positive long term development. Theoretically, after breaking through, the lower support level would come in around $20.20 in late July. I don’t think that level will get tested, it’s just a worst case scenario. The larger implication of breaking above the cloud is that the miners have entered a new bull phase.

  13. On January 31, 2019 at 6:52 am,
    spanky says:

    I was hoping IPT.V might be able to rocket through 40 cents in the next 2 weeks. That is looking less and less likely, although you never know. The next clear opportunity to get through 40 cents will come in May. I am basing this on weekly cloud resistance.

  14. On January 31, 2019 at 6:56 am,
    spanky says:

    The next MASSIVE resistance level for gold is the 400 week MA, which is declining and will be around $1350 over the next few weeks. It was rejected 4 times at that MA over the last 2 years.

  15. On January 31, 2019 at 7:08 am,
    spanky says:

    IPT.V is definitely disappointing so far this today and this week. Anyone know why it hasn’t reacted as strongly as it should? I am already overexposed to Mexico, so at this point I don’t have a problem ditching it for something that is actually moving.

    That being said, I will note that it actually made a lower low the week of January 25, 2016, while the rest of the mining complex, including most silver miners, bottomed a week prior. Obviously, ditching IPT.V back then would have been a huge huge mistake.

  16. On January 31, 2019 at 8:36 am,
    spanky says:

    SLV:GLD just can’t seem to get off the ground. Today was a wonderful opportunity to bend the daily bollinger bands outward and it looks like it isn’t ready yet, which sucks. Make no mistake, silver is hated. and the USD has reversed nicely, despite the fact that it should be making a beeline to zero right now. Maybe the BoJ steps in a la 2013 and bends the yen over to bail out the Fed. Would absolutely not shock me in the least at this point.

    • On January 31, 2019 at 8:46 am,
      spanky says:

      Yesterday’s candle in USD look like it is completely reversed today. Whatever. What a joke.

  17. On January 31, 2019 at 9:07 am,
    Matthew says:

    I’m sure there will be a pullback very soon but this picture is nothing but a bullish one:
    http://schrts.co/QJyKSYpw

  18. On January 31, 2019 at 9:12 am,
    Matthew says:

    The HUI is wrestling with the 377 day EMA right now:
    http://schrts.co/hyKxHjtT

    • On January 31, 2019 at 9:39 am,
      spanky says:

      I agree long term bullish, but who knows how this is going to play out over the next 6 months. What I would rather not see is a lower low in anything related to PMs. Short of that, it’s a total crapshoot now that things are either massively overbought or approaching overbought across the sector. All you can do is hold on tight at this point and see what happens. Any buying should have been done months ago now.

      • On January 31, 2019 at 9:58 am,
        Matthew says:

        I think it will remain trying and choppy over the next six months but pullbacks can still be bought (definitely, imo). Only the very short term is a crapshoot to me.
        The wall of worry is always at its strongest at the start of a new uptrend and the current one has two parts to it. It is both a new intermediate uptrend as well as a new long term uptrend — part two of the 2016 uptrend from a very big-picture perspective as it will finish the big bottoming process that 2016 started.

  19. On January 31, 2019 at 9:43 am,
    spanky says:

    I would think that AUY at least tags the 200 WMA before cooling off, but who knows what the setup is here. Maybe it pulls back/goes sideways for a couple of weeks and explodes through that MA. It’s anyone’s guess.


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