The Slow Dull Ache Will Continue
Chris Temple joins me today to recap the weak jobs data and the ECB statement from yesterday. Overall the global slowdown continues and central banks are more than a little worried about it.
Click here to visit Chris’s site for more market commentary and information on his newsletter.
Well Mathew I do believe that…..So I am treating this as a counter trend rally in a market that has topped…of coursse lets monitor those candles volumes and resistance area…good luck to us all!
Yes, good luck to us all!
its fri, I think the gold price often changes directions on fridays.
What is interesting to me is it clinging on to 1300, still, a long way to go to the doldrums.
Well everyone will know that my expectations were wrong if gold doesn’t break out before the summer doldrums.
From a weekly chart perspective, the pullback has been nothing but bullish/healthy.
http://schrts.co/msZhkgsF
Interesting chart…Actually i have no idea…what da f it means…..regarless glad to have another playful technician on site…personally i am literally hanging drywall in my house after i rebuilt it with new pex plumbing new eklectric hvac and what ever…..i am into hanging drywall for several months..then hire a specialist for tapiing and texture…but i am studying your charts style and will have questions after my drywall experience winds down..larry always trying to do more better.lololol
I’m sure that doing your own drywall and plumbing is satisfying, but better you than me!
😉👌
remember white side out……and let the mud dry before painting…..LOL
Great discussion fellas!…Remember, Trump always has said he did not want a strong dollar to hurt our international manufacturers…looks like he will win again..!!
Realestate does well in inflationary periods accompaniesd by even light growth economies…..As Mr. Temple wisely stated…This mess is best served by stagflation….MAGA…make america gold again..lolol.ollolol
fake breakdown in gdx to scare weak longs on this lower volume initiation move…lol
The above — with all due respect guys — is the problem with opinionated gold bugs trying to understand the gold market/gold stocks. It’s all about the narrative —
I did not understand the comment Mr. Temple…Was it derogatory?..lol
but what was said?
Actually mr. temple that was a five minute chart joke..lol…you are very confrontational for no good reason it seems…This is a blog to play on while learning and trading…I come in peace and maybe we all need a good weekend break…eh
pure projection on your part..i am certainly no more or less opinionated that you certainly are as a guest ‘speaker’…and mostly the first amendment still allows for freedom of speach and most jokes….peace out
It’s all about the charts, for me. Narratives are for politicians.
Thankyou…The narratives are not timing devices…Look to peter schiff narrative youtube fairy tales for the past 10 years…he has lost his clients massive timing sitting in gold and overseas equities, opportunities lost and caused enormous pain with his technically unsubstantiated certain narratives along those time periods……price action tells what buyers and sellers are actually doing and f the narrative….
Peter is like everyone else…..he under estimated the corruption that was possible….jmo
Bob Hoye has great knowledge yet also underestimated the Fed. He was caught totally off guard in the summer of 2010. Luckily, I did not underestimate the Fed and was levered long the silver miners while Hoye was short them (with leverage or not, I don’t know).
Hoye……also was looking for a 100 to 1 …silver to gold ratio last yr……
At this point, I am not seeking any advice from any of the latest gurus……gold going higher , because it is the last man standing….The world is in deep trouble…..
China….is rolling over….they just cancel the talks with Trump……
cancel…to canceled ….
As the markets come to understand that cargo planes will be replacing helicopters before much longer.. .
oh i agree mr. temple…thankyou for the reminder…i follow my technicals exclusively…..even if i pay up after an initiation move for that info…that way i do not sit in purgatory for years languishing…good luck to all traders
and embracing only technicals vs. narratives was by far my most expensive college tuition…and most painful,,,bye bye
The nugt volume has ramped up large but gdx is still not equivolent to that…we will see how the after hours balance pumps catch up to that up..perhaps an other 10 million shares will add to the current 34 million
Gold headed for $1334 again……….jmo….
I think we just had a nice cup and working on the handle….for the WEEK….
https://www.zerohedge.com/news/2019-03-08/treasury-yields-tumble-2019-lows-amid-trannies-worst-losing-streak-nixon
Biggest US payrolls miss since 2008 and biggest collapse in China exports in years (after the biggest credit injection ever)…
Dow, S&P, Nasdaq and Small Caps are down 5 days in a row but The Dow Transports is now down 11 days in a row – the longest losing streak since Nixon in 1972…
And what happened in 1972…….
Blast from the past…..Dems like peaches……..im sure….
In the wake of President George W. Bush’s reelection in 2004, several leading House Democrats believed that Democrats should pursue impeachment proceedings against the president. They asserted that Bush had misled Congress about weapons of mass destruction in Iraq, and had violated the civil liberties of Americans by authorizing wiretaps without a warrant.
In May 2006, with an eye on the upcoming congressional elections–which offered the possibility of Democrats taking back control of the House for the first time since 1994–Pelosi told colleagues that, while the Democrats would conduct vigorous oversight of Bush administration policy, an impeachment investigation was “off the table”. (
/GC resistance on daily is 1301…Let see how easy it penetrates that with volume i hope…dollat is stalling? toward gabby target near 100?..
looks like .382 retracement on /GC will hold deep into the 1 hour breakout bar friday..f not .618 at 1288
looks that /GC has an inside day before the CPI release tommorrow AM…..That said it does appear that we have a daily swing low established with vlome breakout nice morningstar candle formation……I have to believe the vchart and it turned bullish friday…so, higher than expected CPI morrow?…we will see
/ES up on no volume ..Completed a Gartley .618 retracement sell pattern on a AB=CD up complete w expansion…Short via spxs…good luck trader
Today’s action in the gold miners is probably due to the fact that most players have assumed that the sector made an intermediate term high in February.
http://schrts.co/MxMdWaiV