Jordan Roy-Byrne – Chart Outlook For US Markets, Gold, Gold Stocks, And How They Relate Each Other
Jordan Roy-Byrne, Founder and Editor of The Daily Gold joins us to share his technical outlook on the US markets, which have broken out to 1 year highs. We get Jordan to compare the gold and GDX chart to the S&P with a longer term outlook. Jordan points out that gold has held up very well over the past few months and is still looking for a breakout to all time highs.
Multiple supports continue to hold for GLD…
https://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=7&dy=0&id=p32903491880&a=1433953722
SPY is getting ready to drop versus silver…
https://stockcharts.com/h-sc/ui?s=SPY%3ASLV&p=D&yr=1&mn=9&dy=0&id=p26908359799&a=1154931874
Continuing to add to VZLA this pm @ $1.14
Thanks for sharing your trades Marty. I’ve already got the allocation I want as a full position in VZLA, but despite that, I’ve also been considering adding even more to Vizsla lately to “biggie size” it. 🙂
Mulling it over for today…
I still had some capital to deploy today after selling my Comstock position yesterday, even after fortifying a few Uranium positions. Further I sold my Discovery Silver and Americas Gold and Silver positions to take early tax losses in those for this year, and I’ll likely cycle back into both of those after the 30 day wash period has played through (hopefully neither gets nabbed in the next 30 days).
Today I elected to increase my stakes just a bit in AbraSilver, Gatos Silver, Avino Silver & Gold, and Vizsla Silver. Those seemed like good trades for that capital, and I kept a little extra back to add to my dry powder if we see even more corrective action in the resource stocks. The net effect was also decreasing the overall amount of positions I have, and getting slightly more concentrated positions for the near-term.
My account acted like The Fed doesn’t exist. Barely red again. Some up and some down. That is good news as it said they don’t need meetings and they don’t need to talk to us.
They never did ….. need to “talk to US.”…… lol 🙂
+1 or more
Bought Brixton today…
https://stockcharts.com/h-sc/ui?s=BBB.V&p=W&yr=3&mn=3&dy=0&id=p50494641338&a=1338055905
IPT marked its high 2.5 months ago with 3 consecutive daily overbought RSI(14) readings. Today it has 3 consecutive daily oversold readings. I bought more.
https://stockcharts.com/h-sc/ui?s=IPT.V&p=D&yr=1&mn=1&dy=0&id=p04276701023&a=1389634367
Fourteen? …. 14?….RSI.
(Note to self. …buy impact)
14 is the default setting at stockcharts. Being a daily chart we’re talking an RSI reading based on the last 14 days. I have no idea why 14 was chosen as the default. (Why one day shy of 3 weeks? And is there a significance to 14 weeks? 14 months? Quarters?)
XLF:GLD filled its 3 month old gap today…
https://stockcharts.com/h-sc/ui?s=XLF%3AGLD&p=W&yr=7&mn=7&dy=0&id=p36493407768&a=1101859294
UUP bounced at fork support to fill today’s gap…
https://stockcharts.com/h-sc/ui?s=UUP&p=D&yr=0&mn=7&dy=0&id=p70483971005&a=1433903966