Like this stuff, sign up as a follower. Its easy, it's free.
Don't miss the GDX chart. Some mechanical systems went short GDX last week, followed by a crushing run up. But that run may be over. See the Chart. Think like a crook, like a Lloyd
Bias is a weird and wild thing, but these charts look pretty bearish to me...however when things are priced in a reserve currency that is being debased, many rules go out the window.
Looks like an exhaustion type move on the PME chart, but tough to get a top when the Fed keeps feeding it. Maybe this week we get a sell the news event or find out exactly how much is already factored in when we here from the Fed. We shall see.
Nice chartfest, steveo!
ReplyDeletePanama gold looks like it has risen quite a bit since I was in HS.....I recall the gold 'fix' was $35/oz back in the day
Bias is a weird and wild thing, but these charts look pretty bearish to me...however when things are priced in a reserve currency that is being debased, many rules go out the window.
ReplyDeleteExcellent work, steveo. Tx
ReplyDeleteLooks like an exhaustion type move on the PME chart, but tough to get a top when the Fed keeps feeding it. Maybe this week we get a sell the news event or find out exactly how much is already factored in when we here from the Fed. We shall see.
Indeed those pressing runs up are very hard to predict the top
ReplyDeleteDid you go long?
ReplyDeleteummm.....no
ReplyDelete