Chris Kimble - Kimble Charting Solutions – Fri 23 Aug, 2019

Key Levels For Gold, USD, S&P, and A Trading Strategy

Chris Kimble, Founder of Kimble Charting Solutions, shares 5 charts with us, all posted below. We first revisit a chart shared last interview asking for your thoughts on a trading strategy. We also share another chart and ask for your thoughts on how you would trade it. The final three charts focus on gold and relate the USD chart to possible moves and wrap it up with the S&P chart.

Please email your trading thoughts to Chris at Kimblechartingsolutions@gmail.com and I at Fleck@kereport.com.

Click here to visit Chris’s site – Kimble Charting Solutions.

How would you trade this?

View related posts on: gold, Technical Outlook, US dollar, US Equity Markets

Comments:

On August 23, 2019 at 11:32 am,
Matthew says:

UUP vs GLD:
https://stockcharts.com/h-sc/ui?s=UUP%3AGLD&p=W&yr=5&mn=6&dy=0&id=p21142631700&a=672334249
- On August 23, 2019 at 1:04 pm,
  Marty says:
  
  I’m really wondering if the bullion banksters have run out of ammunition. Today’s COT WAS ONLY MODESTLY NEGATIVE IN COMPARISON TO THE LAST NUMBER OF WEEKS. WE will see early next week
  - On August 23, 2019 at 1:43 pm,
    Matthew says:
    
    I’m just glad that I never act on the COT numbers. A big change is clearly underway.
    - On August 24, 2019 at 5:28 am,
      Excelsior says:
      
      Agreed Matthew. I don’t think I’ve ever placed a trade based on COT numbers.
      
      Just look at the price action in the underlying commodity for the macro trend, and then look at the individual price action in the stock you are trading.
On August 23, 2019 at 11:34 am,
OOTB Jerry says:

Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.
https://www.zerohedge.com/news/2019-08-23/stocks-plunge-after-trump-vows-retaliate-china-afternoon-orders-us-companies-find
HELLO>>>>>>>>>>>>>>ThIS is HUGE…………..REPEAT….. 🙂
On August 23, 2019 at 11:34 am,
OOTB Jerry says:

ORDER ALL US COMPANIES HOME>>>>>>>>>>>>>>>>>>>>>>>>>>>Trump calls
On August 23, 2019 at 11:36 am,
OOTB Jerry says:

Replying to @realDonaldTrump
….your companies HOME and making your products in the USA. I will be responding to China’s Tariffs this afternoon. This is a GREAT opportunity for the United States. Also, I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE,….
On August 23, 2019 at 11:42 am,
OOTB Jerry says:

This should be interesting…………CNN hires……..McCabe………..
https://www.zerohedge.com/news/2019-08-23/cnn-hires-former-fbi-2-andy-mccabe-who-was-fired-leaking-and-lying
DEEP STAte really concerned now……trash talking is going to get better….
On August 23, 2019 at 12:05 pm,
OOTB Jerry says:

My guess Hedge Funds are having an emergence meeting as I am typing…….
“where do we get this thing called gold”………….lol 🙂
- On August 23, 2019 at 12:26 pm,
  Matthew says:
  
  I bet many of them are shorting it because they don’t have the foggiest idea why it’s moving.
  - On August 23, 2019 at 12:30 pm,
    OOTB Jerry says:
    
    Ditto………..I bet you are correct…., no , I know you are correct….. 🙂
    - On August 24, 2019 at 5:31 am,
      Excelsior says:
      
      Bingo. Most Hedge Funds are clueless about Gold’s role or why the price is rising and likely think they are going to do well shorting it. Boy due they have a rude awakeing coming.
      - On August 24, 2019 at 5:35 am,
        Excelsior says:
        
        …. and then there’s JP Morgan, one of the big boy banks, starting to get it…..
        
        — willem middelkoop @wmiddelkoop
        
        “JP Morgan ‘recommends its clients to change their gold hodlings from 0 to 5 %’ and strongly ‘reduce dollar holdings’ in anticipation of (planned?!) dollar devaluation.”
        
        https://twitter.com/wmiddelkoop/status/1165159222784532480?s=20
      - On August 24, 2019 at 5:38 am,
        Excelsior says:
        
        Is the dollar’s “exorbitant privilege” coming to an end?
        
        Craig Cohen – FX, Commodities and Rates Strategist – Jul 10, 2019
        
        “In other words, in the coming decades we think the world economy will transition from U.S. and USD dominance toward a system where Asia wields greater power. In currency space, this means the USD will likely lose value compared to a basket of other currencies, including precious commodities like gold.”
        
        https://privatebank.jpmorgan.com/gl/en/insights/investing/is-the-dollar-s-exorbitant-privilege-coming-to-an-end
On August 23, 2019 at 12:35 pm,
SilverDollar says:

Thanks Cory for a good listen. Chris always gets one to thinking.
Love where the markets are pointing today thanks in part to the spoiled Gerber baby in the White House. He’s had a terrific week with the Greenland thing and then his Friday tweets pushing the Chinese a bit further…..He’s on his way to Europe and I’m counting on him to royally screw that meeting up, as is his penchant. Next week ought to really show folks where they ought to have their funds! Go trump!!
- On August 23, 2019 at 12:40 pm,
  OOTB Jerry says:
  
  Oh, come on SD………Trump is just getting started……….
  Wait till he hears McCabe, was hired by CNN……..
  The Shadow govt. is just now kicking in……..
- On August 23, 2019 at 12:44 pm,
  Matthew says:
  
  This bull market in gold is due to the Fed. Trump’s antics are a sideshow.
  - On August 23, 2019 at 12:49 pm,
    OOTB Jerry says:
    
    Trump might arrest the FED………for causing the turmoil….. 🙂
    - On August 23, 2019 at 1:04 pm,
      OOTB Jerry says:
      
      More important …..might be Trump stopping the drugs….
      there are things happening which most are not keeping up on….
      - On August 23, 2019 at 1:08 pm,
        OOTB Jerry says:
        
        Think drugs……Hilly Billy, Gates, Buffit, Mueller, Barr…….Awan Contra…..
      - On August 23, 2019 at 1:31 pm,
        OOTB Jerry says:
        
        Epstein , was just a side show…….some agency caught…..leading to bigger exposure of the entire system……starting way back to 1947 and the CIA….lot of things will be uncovered in the next few months……Like the involvement of some phony insiders, sucking the system dry……and hanging the American Tax sheep out to dry…..
      - On August 23, 2019 at 1:39 pm,
        OOTB Jerry says:
        
        Trump tweet…….NOTICE It SAYS…….”or anywhere else”
        He also ordered “all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE, all deliveries of Fentanyl from China (or anywhere else!).
  - On August 23, 2019 at 12:55 pm,
    SilverDollar says:
    
    Agree with you Matthew on the gold market. I was primarily talking of the conventionals………I’ve got a bet on SSOX.
  - On August 23, 2019 at 1:14 pm,
    Marty says:
    
    I would bet the ESF HAS MORE OF AN INFLUENCE ON THE METALS THAN THE FED.
    GO BBBXF &. SGSVF
    - On August 23, 2019 at 7:06 pm,
      Matthew says:
      
      I’m not talking about the Fed directly manipulating gold. This bull market has been coming for a very long time and it’s due to the cumulative effects of everything the Fed does.
      The Fed’s paper system is unsound and the primary reason for the ever-shrinking value of the dollar. The rising POG just reflects the pricing-in of all that the Fed has done, most recently, a lot of QE.
      - On August 24, 2019 at 7:30 am,
        Excelsior says:
        
        +1
On August 23, 2019 at 12:39 pm,
SilverDollar says:

At this moment it looks like things aren’t going to narrow the losses at the close. Seems like with 20 minutes to go, the plunge protection team is getting swamped! Should help those weekly charts a bunch.
On August 23, 2019 at 12:46 pm,
OOTB Jerry says:

Dang Good Day for GOLD>…………….UP big on a Friday……
Sunday night should be interesting, when China wakes up and see their factories are going to be shuttered…….
On August 23, 2019 at 12:52 pm,
irishtony says:

A wee bit of silver news.
http://silverseek.com/commentary/silver-price-surges-higher-mine-supply-falls-top-producing-countries-17734
On August 23, 2019 at 1:16 pm,
irishtony says:

WELL…WELL…WELL……Has a central banker finelly got it ?
https://www.zerohedge.com/news/2019-08-23/unprecedented-shocking-proposal-boes-mark-carney-urges-replacing-dollar-libra
- On August 23, 2019 at 1:24 pm,
  OOTB Jerry says:
  
  Might upset the drug runners…….fed printing the money going to Iran, payoff….dollars are going to shake thing up a little……there is a lot going on right now…..
  Lot of greenback gone missing ……$21 Trillion and counting…….
  - On August 23, 2019 at 1:49 pm,
    OOTB Jerry says:
    
    Just remember , these same characters want YOUR GOLD>>>>>>>>>
On August 23, 2019 at 1:41 pm,
Matthew says:

I think it was over a month ago that I told Ozibatla that gold would probably reach at least 1560 before correcting and now that number will probably be achieved very soon.
Based on weekly closes, we now have a new high (by a $14 margin)…
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=7&mn=5&dy=0&id=p46820708302&a=648869421
- On August 23, 2019 at 6:39 pm,
  Ozibatla says:
  
  I recall this matthew. And yes I think you maybe right, gold will be at the $1560 area in the forseeable future. Just a matter of when specifically? I personally would like another week or so of consolidation. This latest period of “backing and filling” is a nice development… Especially at this latest area of resistance. Such a strong finish to the week for gold and silver on the back of fed comments, I will be interested to see if we can get some follow through buying on Monday to take out August high and another 6 year high???
  - On August 23, 2019 at 6:57 pm,
    Matthew says:
    
    I wouldn’t be surprised if gold hits 1560 on Monday. Today’s action will probably bring more buyers than sellers and silver looks good enough to help gold along.
    https://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&yr=3&mn=9&dy=0&id=p37461740803&a=680388888
On August 23, 2019 at 1:48 pm,
Matthew says:

JAG finished the week 13.64% higher…
https://stockcharts.com/h-sc/ui?s=JAG.TO&p=W&yr=3&mn=7&dy=0&id=p78207806081&a=653049310
- On August 24, 2019 at 7:31 am,
  Excelsior says:
  
  + 13.64 Go JAG!
On August 23, 2019 at 1:52 pm,
Matthew says:

New intraday and closing high for GDX:SPY…
https://stockcharts.com/h-sc/ui?s=GDX%3ASPY&p=D&yr=1&mn=1&dy=0&id=p11367149344&a=662589729
On August 23, 2019 at 1:59 pm,
OOTB Jerry says:

Big drop on a Friday, gives people a long time to think how bad it is…… 🙂
On August 23, 2019 at 2:02 pm,
Matthew says:

This breakout could cause a large move higher and make the current level the new floor:
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=7&mn=7&dy=0&id=p07176036802&a=638471359
- On August 23, 2019 at 2:40 pm,
  irishtony says:
  
  Matthew…..That fork is dead…..Long live the fork……………………………….
  - On August 23, 2019 at 2:56 pm,
    Matthew says:
    
    Which one? It poked through two! 🧐
  - On August 24, 2019 at 6:13 am,
    Dick Tracy says:
    
    The fork is in the road, somebody dropped it there, and I took a picture of it. What had been fake is now real. LOL! DT
On August 23, 2019 at 2:26 pm,
RICHARD/DOC says:

Technically, Equinox looks strong.
- On August 24, 2019 at 5:32 am,
  Excelsior says:
  
  Yes sir! EQX on the move. They just rolled back their share count so they can get a US listing on the big board. This will allow them to be included in more funds and ETFs.
  
  Solid company & team.
On August 23, 2019 at 2:49 pm,
OOTB Jerry says:

DNC…….going to Mexico for funding………..drug money backing….go to the gangs..before you go to jail…….. 🙂
https://www.zerohedge.com/news/2019-08-22/desperate-dnc-chair-set-hold-fundraisers-mexico
- On August 23, 2019 at 8:34 pm,
  buzz says:
  
  Since when did CHINA become the big dog in the block? Maybe one of their man-made islands needs to mysteriously sink due to climate change
On August 23, 2019 at 8:40 pm,
BUZZ says:

Of course, that has nothing to do with Obama buying beachfront property on Marta’s Vinyard. Greetings from Edgertown!!

Facebook

RSS Feed

iTunes Podcast

Become a sponsor!