Outlining the short and mid-term outlook for US markets, bonds, and gold
Dana Lyons kicks off today with his outlook and trading strategy for US equity markets, bonds, and gold. Dana has been calling these moves very accurately over the past year and really should be listened to for all the traders out there.
There does not appear to be much downside for now…
https://stockcharts.com/h-sc/ui?s=GLD&p=W&yr=5&mn=0&dy=0&id=p32778303843&a=688605966
Oops, sorry about posting the same chart twice. I don’t remember which chart I meant to post but the following GLD breakout chart is a fine replacement…
https://stockcharts.com/h-sc/ui?s=GLD&p=W&yr=3&mn=11&dy=0&id=p94465636249&a=683083655
Is the UUP:GLD bounce almost over?
https://stockcharts.com/h-sc/ui?s=UUP%3AGLD&p=W&yr=5&mn=6&dy=0&id=p21142631700&a=672334249
GLD at support above the 50 day MA:
https://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=1&mn=1&dy=0&id=p87022656809&a=683082522
This alternate fork is also relevant:
https://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=7&dy=0&id=p21271936485&a=678425491
They would’ve spoofed gold lower by now–
Another sign of strength: Gold has pulled back about $80 yet hasn’t lost its weekly RSI(14) overbought reading while GLD lost it for just one week and has regained it.
https://stockcharts.com/h-sc/ui?s=GLD&p=W&yr=3&mn=6&dy=9&id=p0259070480c&a=650141574
GDX gained 8.2% versus SPY this week:
https://stockcharts.com/h-sc/ui?s=GDX%3ASPY&p=W&yr=5&mn=0&dy=9&id=p26943114962&a=686435930
E.B. Tucker, director of Metalla Royalty & Streaming, is betting that silver will hit $20 in the next two months.
https://www.youtube.com/watch?v=zmjyr_V2jsk
Gold’s 89 month moving average bottomed yesterday, so, as of today, all the Fibonacci-based monthly moving averages (1 thru 377) are pointing up. It’s been about 6 years since that’s been the case.
HUI:GLD took back its 200 week MA today and did so by one cent. Experience tells me that single cent matters so next week will probably be a good one.
https://stockcharts.com/h-sc/ui?s=%24HUI%3AGLD&p=W&yr=3&mn=9&dy=0&id=p95386073790&a=675549285
Gold has held up better than even I had expected…
(GLD)
https://stockcharts.com/h-sc/ui?s=GLD&p=W&yr=5&mn=0&dy=0&id=p32778303843&a=688605966