Dec 24th – Gold

Hello and welcome back to Chartfreak. It has been a while since I did a public post, so what have we been busy with? While we have traded a variety of trade set ups, like AMD, MU, ENPH, VSLR, and other stocks like it in the General Markets, but we have also been watching the Precious Metals Sector very closely. Why? Well we caught the lows in May and rode many Miners higher into September. Some stocks like EGO, SBGL, HMY, DRD, etc doubled and tripled. After a strong rally, you often get a top and a consolidation period, so we exited leverage in August and sold many Miners in September, anticipating a consolidation period and then another strong run higher. Some individual Miners are still running nicely, like SBGL, SVM, HL, CDE, etc, so we continued to trade those, but we have been watching the correction in GDX, GDXJ, SILJ, etc closely, and I wanted to share what I am seeing now.

Monday Gold pushed a bit higher and it has closed above the 50 sma. On what would normally be a light volume week of holiday trading, GDX pushed away from the 50 sma with decent volume. We now wonder: "Is Gold about to rocket higher?" As mentioned, we have been anticipating that possibility for weeks as the sector churns sideways. The Bullish action in Miners on Monday seems to indicate that it is time to go higher and that this consolidation period will end soon.

Let's just take a look at some of the recent charts from past reports along with the current set ups, and discuss further what we have been looking for.

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June 19- FOMC Countdown

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I want to open up a part of the premium report that my subscribers received this morning to the Public.   We are waiting on a FOMC Decision and things often get volatile around that time, so I wanted to share some interesting observations that I have with my readers. After discussing the General Markets and Oil, the report continued with these thoughts...

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USD - My unbiased look at the USD has me thinking that it looks like it wants to go higher short term. If the Fed  DOES NOT cut rates,  the USD could continue a little higher.  However the 50sma could stop the dollars rise because, ...

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Big Picture Weekend Report – June 8th

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I am opening up part of the Big Picture Weekend Report to the Public.  During the week, I focus  my daily reports on daily action in various sectors of the market.  I then also may offer some lower risk entry points or buy set ups if they develop during pull backs. In the weekend report, however, I take a step back and focus on the Big Picture , and this is more than of that report.  Enjoy!

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