Dana Lyons Commentary – Thu 26 Dec, 2019

Comments On The Moves In Precious Metals and US Markets

Dana Lyons joins me on this Boxing Day to share his thoughts on the big moves over the last couple trading days in gold and silver. We discuss the timing of the moves and the overall trading strategy that Dana continues to employ for the metals. We also touch on the US markets which just continue to push higher.

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Comments:
  1. On December 26, 2019 at 12:04 pm,
    Nigel says:

    Gold definitely looks like it’s broken the downtrend from September, I’m not totally convinced it couldn’t turn down again one more time but it is looking good

    • On December 26, 2019 at 10:00 pm,
      Excelsior says:

      Gold makes headway above $1,500 on path to best year since 2010

      Bloomberg News | December 26, 2019

      “The break-through $1,500 in the face of new highs in US stocks, a rebound in U.S. #Treasury yields and a strong #dollar “leads to an assumption that bulls will buy in the New Year, so the market is trying to position ahead of time,” said Tai Wong, the head of metals derivatives trading at BMO Capital Markets. “It has momentum that is a little mysterious and no one wants to stand in the way.”

      “Without a dovish Fed pivot, it’s unlikely gold will make explosive gains, but it does appear the market is trying to carve out a new higher trading range,” Stephen Innes, chief Asia market strategist at AxiTrader, said in a note. That current trend “is a very favorable sign for gold bulls,” he said.

      “Gold is up about 18% this year as investors weigh the benefit of havens amid the to-and-fro of the U.S.-China trade war and a run of central-bank easing. The latest tick higher came even as President Donald Trump said Tuesday a deal with Beijing is “done.”

      https://www.mining.com/web/gold-makes-headway-above-1500-on-path-to-best-year-since-2010/

  2. On December 26, 2019 at 5:49 pm,
    markedtofuture says:

    Prince Harry meets w
    @FLOTUS
    – DELIBERATELY sets luciferian hand symbolism for photo opp.

    https://mobile.twitter.com/Jali_Cat/status/1202876212277907457

  3. On December 26, 2019 at 8:56 pm,
    Matthew says:

    Big Fibonacci fan breakout for GDXJ:
    https://stockcharts.com/h-sc/ui?s=GDXJ&p=W&yr=7&mn=11&dy=0&id=p98978465725&a=385422417

  4. On December 27, 2019 at 6:59 am,
    Dick Tracy says:

    Today is the last day for tax loss selling. DT

    • On December 27, 2019 at 7:44 am,
      Excelsior says:

      Most of the tax loss selling wrapped up in November and early December this year, but we may see a few more sell downs in some of the dogs today, so I’ll be on the hunt for year-end clearance sales.

  5. On December 27, 2019 at 7:45 am,
    Excelsior says:

    Edward Gofsky @EdwardGofsky

    “Silver {Ultra Long Term} chart. Silver was in a bear market from the {Wave 5} parabolic top in 2011 at $50 to the lows in 2016 at $13.62. Since then we have embarked on a new bullish {Wave Count}”

    https://twitter.com/EdwardGofsky/status/1210384409351708672

  6. On December 27, 2019 at 7:56 am,
    Excelsior says:

    From Extreme Pessimism To Extreme Optimism In One Year

    by @Goldfinger on 27 Dec 2019

    “From “the sky is falling and the long awaited bear market is here!!” TO “everything is wonderful and the S&P will never drop more than 1% again” in exactly one year. As a student of market history I have followed the recent relentless climb higher in equities with a bemused expression. On the one hand I know very well that trends tend to trend, and as a human being who is concerned with his well being I also know that walking in front of trains is bad for ones health.”

    “However, I also know that things are rarely as good as they seem to be at bull market highs, just as they are rarely as hopeless as they feel at bear market lows. As we enter 2020 I couldn’t think of a year in my lifetime in which more things could go horribly wrong than this one we are about to set foot in. Yet, if we pulled up any number of stock charts you would have to come away with the exact opposite assessment.”

    https://ceo.ca/@goldfinger/from-extreme-pessimism-to-extreme-optimism-in-one-year

  7. On December 27, 2019 at 9:17 am,
    Matthew says:

    There’s a confluence of important resistance near $20 for SLV, 20% above. Notice the volume in 2019 versus 2016. Considering gold’s “writing on the wall” position above its own 2016 high, I don’t think it will take long for SLV to take on that $20 level (roughly $21 silver).
    https://stockcharts.com/h-sc/ui?s=SLV&p=W&yr=8&mn=0&dy=0&id=p67313951934&a=532172659

  8. On December 27, 2019 at 9:39 am,
    Matthew says:

    I will be surprised if GDXJ doesn’t see $70 in 2020.
    https://stockcharts.com/h-sc/ui?s=GDXJ&p=W&yr=9&mn=11&dy=0&id=p99609309069&a=573032536

    • On December 27, 2019 at 11:03 am,
      Excelsior says:

      +70

  9. On December 27, 2019 at 9:45 am,
    Matthew says:

    The GDM Gold Miners Index is breaking out from an important Fibonacci fan resistance:
    https://stockcharts.com/h-sc/ui?s=%24GDM&p=D&yr=1&mn=5&dy=0&id=p83650093312&a=577064562