Craig Hemke – Markets and Metals Rebounding On Fed Speak But What Are They Saying About The 2nd Half Of The Year
Craig Hemke, Founder and Editor of TF Metals Report joins us discuss the rise in markets and PMs on the back of Fed speakers shifting rate hiking expectations for the Fed meeting in under 2 weeks. We also discuss recent economic data and where Craig sees this data trending through summer.
Turd’s take on recent relevant events and what might happen in the near future generally.
Silver has acted well since last Friday’s low.
https://stockcharts.com/h-sc/ui?s=%24SILVER&p=D&yr=1&mn=6&dy=0&id=p79404222552&a=1424428306
SILJ:GDX tested and exceeded its low of over a month ago but looks good.
https://stockcharts.com/h-sc/ui?s=SILJ%3AGDX&p=W&yr=3&mn=11&dy=0&id=p61109072410&a=1408282914
Has this bounce just been a backtest or “B” wave for gold? Possibly but the action lately throughout the sector makes me doubt it.
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=2&dy=0&id=p14038587264&a=1422192281
Priced in gold SILJ took out last summer’s low before reversing convincingly.
https://stockcharts.com/h-sc/ui?s=SILJ%3A%24GOLD&p=D&yr=1&mn=3&dy=0&id=p60158868738&a=1415748228
HL, CDE, SILJ…everything you’ve said seems to be right on, thank you.
You’re welcome and thanks Terry. This sector never makes things easy that’s for sure.
In just another day or 3 we should know what to expect through the summer. More strength tomorrow looks likely and is needed. The more strength the better which is technically not always the case in these situations.
HL:
https://stockcharts.com/h-sc/ui?s=HL&p=D&yr=0&mn=11&dy=0&id=p31983687083&a=1417997420
Copper put in a low 2 days before gold and silver.
https://stockcharts.com/h-sc/ui?s=%24COPPER&p=D&yr=1&mn=3&dy=0&id=p74514396339&a=1079142485
Weekly closes throughout the sector will be important.
Silver for example:
https://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&yr=3&mn=7&dy=0&id=p25144246904&a=1416851192
GDX:SPY suddenly looks like it has bullish potential…
https://stockcharts.com/h-sc/ui?s=GDX%3ASPY&p=W&yr=7&mn=11&dy=0&id=p12720780617&a=1352444094
I don’t own it but K92 Mining looks quite appealing.
https://stockcharts.com/h-sc/ui?s=KNT.TO&p=D&yr=1&mn=1&dy=0&id=p38701387978&a=988774876
AG (My exposure is through SILJ):
https://stockcharts.com/h-sc/ui?s=AG&p=D&yr=1&mn=9&dy=0&id=p76396949608&a=1323717277
CDE:SLV pulled back sharply from today’s high but still looks good for more imminent upside.
https://stockcharts.com/h-sc/ui?s=CDE%3ASLV&p=78&yr=0&mn=1&dy=5&id=t0184089918c&a=1423632150&r=1685665293385&cmd=print
The USD reversed sharply precisely at fork resistance…
https://stockcharts.com/h-sc/ui?s=%24USD&p=D&yr=1&mn=3&dy=0&id=p75350801050&a=1294481280