Richard Postma - The Doctor Is In – Thu 10 Oct, 2019

An in-depth look at the S&P and Gold charts

Doc kicks off today with a close look at the S&P and gold charts. We breakdown some of the key technical factors that we are watching as well as outline where we see the markets going into next year.

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Comments:
  1. On October 10, 2019 at 11:23 am,
    bonzo b. says:

    Doc, OR made it down to 9.11 today but is back to 9.37
    SLB is down to 30.7 but I am waiting for a tumble. I think I like silver better.
    Did you ever buy any IMBBY or BTI or IRVRF?
    Nail biting time as the Astros must win tonight or go home till April.
    Mattress Mac, a Houston furniture dealer, bet $3,500,000 on the Astros to win the World Series with a Louisiana bookie last week. If the Astros win it all he collects 11.5 million. What do your charts say about that?

    • On October 10, 2019 at 11:41 am,
      RICHARD/DOC says:

      BB, I haven’t since I believe they still have further to fall. IMBBY has the potential to see 15 As I mentioned the other day, be careful with OR. I bet it moves down further.

      • On October 10, 2019 at 1:54 pm,
        bonzo b. says:

        Doc, IMBBY is supposed to earn 3.58/share next year so 15 would be just over 4 times earnings. Hard to believe it! But I think BTI may do better long term.

      • On October 10, 2019 at 5:05 pm,
        Nigel says:

        BB, I sold my position in OR at 9.64 last Friday for a loss, gave it a chance to recover all through September but it was one way traffic don’t see that changing anytime soon

  2. On October 10, 2019 at 11:35 am,
    Matthew says:

    That looks like a successful retest of the 9/30 low, complete with positive strength divergence:
    https://stockcharts.com/h-sc/ui?s=OR&p=D&yr=1&mn=0&dy=0&id=p67392059487&a=691582934

    • On October 10, 2019 at 2:03 pm,
      bonzo b. says:

      Thanks, Matthew. Doc thinks OR may drop more but that chart gives me hope that it has formed a double bottom. The RSI is very oversold and the MCAD looks like it may be about to turn up. OR looks like a real bargain compared to RGLD, FNV, and SAND, all of which I own. WPM also looks cheap but I have so much WPM I should probably go for more OR. Fortunately I own FNV@26 and RGLD@27 so I can afford to take a short term hit in OR as I am confident it will be much higher in a couple of years. But maybe I should buy more USAS, Irving, and NSRPF instead…

  3. On October 10, 2019 at 11:44 am,
    Matthew says:

    GLD/GDX/GDXJ filled their 10/8 gaps today and the miners are now up while GLD is still down .75%
    https://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=1&mn=1&dy=0&id=p82935988339&a=674222302

  4. On October 10, 2019 at 1:02 pm,
    SilverDollar says:

    Doc: “On the short term gold daily chart, watch the MACD”
    Michael Oliver: “Momentum speaks first. Price usually follows.”

    • On October 11, 2019 at 3:40 am,
      RICHARD/DOC says:

      Silver, you’re correct; I’m watching that with fascination. It’s flat lining and ready to break one way or another.

  5. On October 10, 2019 at 2:25 pm,
    john says:

    i am a subscribe to Michael Oliver’s gold newsletter and consider it well worth the money.

    It would be nice if Cory could have him on the show once in a while.

    • On October 11, 2019 at 10:17 am,
      SilverDollar says:

      +1

    • On October 11, 2019 at 11:47 am,
      Excelsior says:

      I agree that Michael Oliver is a sharp technician, but he may have an exclusive deal going with Jay Taylor.

      • On October 11, 2019 at 1:30 pm,
        Matthew says:

        I’ve never subscribed to Oliver but should. His approach resonates with me more than all others and he was appropriately bullish over the last year while most were bearish.

  6. On October 10, 2019 at 2:53 pm,
    markedtofuture says:

    OPUS 179 Kurdish Opportunists

    Hear me Loud and Clear: Trump is RIGHT to get out of the Middle East! The Kurds dont need us. Obama’s CIA created ISIS and the mess has to stop!

    https://www.youtube.com/watch?v=5oQwAcQeOg4

    • On October 10, 2019 at 9:30 pm,
      CFS says:

      Of course, the Whistle-Blower had to wait 18 days, while Atkinson changed the whistle-blower form to allow second-hand information.

      No conspiracy to see here.

      The deep state, FBI and CIA, would never be involved in Sedition or trying to unseat a legitimately elected President.

  7. On October 10, 2019 at 7:36 pm,
    markedtofuture says:

    Joe Biden worked with whistleblower when he was vice president, officials reveal

    https://www.washingtonexaminer.com/news/joe-biden-worked-with-whistleblower-when-he-was-vice-president-officials-reveal

    • On October 10, 2019 at 9:23 pm,
      CFS says:

      The whistle-blower worked with Joe Biden and EVEN flew with him on Airforce 2 to Ukraine.

      nothing partisan to see here !

      The Whistle-blower consulted with house Democrats and was given lawyers to draw up the complaint (by Schiff & Pelosi)

      No collusion to see here.

  8. On October 10, 2019 at 8:52 pm,
    markedtofuture says:

    Trump: Biden ‘understood how to kiss Barack Obama‚Äôs ass’

    https://www.washingtonexaminer.com/news/trump-biden-understood-how-to-kiss-barack-obamas-ass

  9. On October 11, 2019 at 2:12 am,
    CFS says:

    When you hear southern district of N.Y. arrest two operatives associated with Giuliani,

    Also remember this article:
    https://www.politico.com/story/2017/01/ukraine-sabotage-trump-backfire-233446

  10. On October 11, 2019 at 7:09 am,
    CFS says:

    TRUMP-SYRIA…..MAYBE NOT A MISTAKE.

    https://www.youtube.com/watch?v=2hPZszqpupk

  11. On October 11, 2019 at 10:35 am,
    Matthew says:

    GLD has fallen much more than necessary to fill its 10/2 gap and has bounced off of Bollinger Band and pitchfork support:
    https://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=5&dy=0&id=p60412675654&a=692805130

    SLV and the miners (GDX, etc) have bullishly held up much better and have not filled their 10/2 gaps much less fallen to their lower Bollinger Bands.

    • On October 11, 2019 at 1:22 pm,
      Matthew says:

      Update: In the final 20 minutes, GDX did fill the 10/2 gap with today’s low happening at 1 cent below the 10/1 close. There’s Bollinger Band support about 2% below today’s close.
      Today’s low also happened at a fork support and there’s another fork support just below the Bollinger Band. The significance of either fork support in this case is admittedly questionable, especially the green one…
      https://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=0&mn=5&dy=0&id=p91819174345&a=692845231

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