Tag Archives for " gold "

price of gold

Gold Still Trending Higher

This post is based on an excerpt from the Weekend Market Analysis published for the Insider Membership.

The chart below shows the weekly view for the Gold ETF (GLD).  Gold is tracing out a large ZigZag corrective pattern. The first leg down was Primary Wave A (circled) that completed in December 2015. The next wave is Primary Wave B (circled) that doesn’t appear to be complete yet. Wave B (circled) consists of 3 waves: Wave (A) that ended in July 2016, a triangle Wave (B) that ended in April 2019 and a Wave (C) that still appears to be underway.

 

 

Data thru Friday, October 11

 

This next image shows a little more detail to what looks like the final leg up. At this point I have labeled Minor Waves 1,2, 3 and 4 of Wave (C).  Since waves 1 and 3 are fairly equal in size, I am looking for Wave 5 to be larger than wave 1 or 3, as it pushes higher. We still don’t have confirmation that Wave 4 has finished, but we may be getting close.

 

Data thru Friday, October 11 (this is an image from a video)

no September weakness

No September Weakness | Stock Market Update

September has historically been a very weak month for the stock market, but there was no September weakness this year.  The stock market is extended. Can it keep trending up? Yes.  Can it turn south in a New York minute? Yes.

Today’s video focuses on the S&P 500 (SPX), looking at the daily, weekly and monthly charts. I also look at the VIX, the Homebuilders ETF (XHB), the Emerging Markets ETF (EEM) and finally Gold ETF (GLD). Gold put in a very interesting pattern for September.   Continue reading

Extreme Conditions

extreme conditions

January 2008 – January 2016

The video attached below is a very condensed version of what I provide to my Insider Members in their Weekend Market Analysis. 

The retracement in the stock market continues and we are now rapidly approaching my targets for this 4th wave.

Continues to Plummet

In the Baltic Dry Index chart above you can see that it continues to plummet to new all-time lows.  I last talked about this on January 6 in the post “What is the Baltic Dry Index Saying Now?” The situation is now much worse. Continue reading

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