A closeup of the gold chart shows a narrowing and tightly wound price coil of lower highs and higher lows. This narrowing trading range has formed a symmetrical triangle (pennant formation) that probabilistically favors a move in the direction of the underlying trend (60/40).Read More
In a stark reversal from the collapse of nearly every market just six months ago, the winds of inflation have pushed the sails of those same markets back to new (or near) all-time highs.Read More
The precious metals market is very clearly in a secular uptrend and prices look poised for further significant upside into the end of the year.Read More
Precious metals prices broke out this morning above key resistance levels in the mining sector as well as the underlying futures market for the raw metal.Read More
The S&P500 finally worked its way back above 3000 today, and in the process has cast into question the likelihood of a second wave down. In the sight of all doubters, price has pushed through the 61.8% Fibonacci retracement of 2920 measured from the February highs to the March lows.Read More
I want to review price action in gold. Here is the long term, 40-year semi-log chart of gold monthly futures. I have drawn my fibonacci levels from the secondary high in 1980 ($720) to the bottom in 2001 ($250). The story is as follows:Read More
I want to review price action in gold. Here is the long term, 40-year semi-log chart of gold monthly futures. I have drawn my fibonacci levels from the secondary high in 1980 ($720) to the bottom in 2001 ($250). The story is as follows:Read More
The last two weeks have been extremely volatile in the markets, and for the first time in a long time my friends and family have called to inquire about “what is going on in the markets?”Read More
The last two weeks have been extremely volatile in the markets, and for the first time in a long time my friends and family have called to inquire about “what is going on in the markets?”Read More
