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This is part 2 of the special weekend report discussing how we Search for a possible bottom in Gold. This half of the report will include many more charts with just the facts of what is happening in many areas. Again, these facts keep both Bull and Bears unbiased. They also indicate that GOLD may already be hammering in a bottom. Miners especially have the hallmarks of a longer term low in place.
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This chart adds to out last discussion in part 1 and my Big Picture view that I have been pointing out for months now. I pointed this out in this DEC 11 chart . It shows that with the SPX bull market , and the bear market in Gold, we have repeatedly seen Gold ICL'S ( deep trade-able lows) and also Golds Bear Market Rally Peaks moving inverse to The SPX . I drew this to make that clear.
T= a TOP & ICL = A LOW
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I also said that I would be looking for a break down in this area ( A change). Here is my updated chart
So...
Read More I believe that Gold is in a 3 phase bull market, with 2 phases already behind us. After a 4+ yr bear market, there are finally solid signs of a bottom , in many different areas. There is no gain in clinging to a bias, that is how one loses money in the markets, but by gathering important relevant facts you can develop a check list and watch as necessary things begin falling into place ( or not). JUST THE FACTS. Currently I see things falling into place, indicating that THE bottom is either already in place, or very close. This bear market may be coming to an end, and catching the recent lows has already been very profitable. Riding a renewed Bull will be very rewarding. We will look at " Just the facts" here in our extended weekend report. To the charts...
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First a review of recent bullish expectation in Miners:
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REVIEW- In the last 2 weekend reports we watched the HUI & GDX in the bigger time frame. This is a monthly chart of HUI, on the edge of an important break out. It has spent 6 MONTHS at the lows, a solid base on prior support. Today the HUI is near $150. A break out.
GDX reversed from below $12.50 and also looked ready to break out above from a 7 month base. Above $15-$16 is important. It is now at $17 as of Feb 5. 🙂
We need to look at a lot more than just the Miners and Precious Metals, however. Currencies come into play, along with a variety of other influences, so we'll examine the Metals now, historically , and other factors that can indicate where we are in the process of a 3 phase bull market...
Read MoreYes , It's a Supberbowl weekend in the U.S., but there is something more to cheer about. I am currently doing several studies with very bullish implications for the GOLD & SILVER market. My readers know several of the things that I've been tracking for months, and there are other areas that I look into also. Right now I see things that indicate ... Well, I'll leave that for the weekend report. Right now look at these 2 charts.
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The HUI has had bear mkt rally after bear market rally since 2012, but each 'cycle' could not surpass the last one from low to high. THIS CHART is a first, and it is just 1 sign of change to cheer about.
HUI CLOSE UP
My weekend report will likely be released by late Sunday night or Monday morning, and it will be filled with facts that will build your confidence that finally we could be seeing the Bear Market Lows, expectations, price projections, etc. : )
Lets look at some of our trade ideas for now....
Read More2 Charts of the $USD - Can you believe that I drew this drop in the dollar a week ago? It was based on the first drop that took place in early December. Lets look at the dollar as of yesterday.
$USD Wednesday - This may be a piece of toast and what might that do for Gold?
Let me give you a quick idea ...
Read MoreIt has only been 1 trading day since the 2 weekend reports were released, but we can still check this puppy out and see if everything is as expected. To the charts!...
SPX - The markets sold off, but were bought back as the day ended. We still have plenty of time for upside to continue.
Read MoreOver the past few weeks , there have been a lot of buying opportunities. Long precious Metals, ETFs that allow you to Short the markets, etc. I have about about 50 more charts (in addition to Part 1 of this weekend report) to further discuss the buying opportunities currently forming. To the charts ...
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When The NASDAQ back tested that break...
You could have bought TQQQ low risk at $80 with a stop right below the lows. Since I think there is more upside, it is still a buy if you ask me. Especially if we get a dip in the markets. See also ETFs like UPRO, SOX, AND TNA
There is much more...
Read MoreWe are getting the follow through that we expected in many different areas of the Market. The small pieces of the big picture continue to add up. Will it continue? Lets check the charts! 🙂
SPX Jan 27 - I pointed out that the drop mid week was normal, the same thing happened coming out of the August lows. I still expected a run higher.
SPX Jan 29 - Friday we got our follow through.
Moves higher out of the lows can be convincing, but will it lead to a break to new highs in a bull market, or a bounce?
Read MoreI wasn't planning on a Friday report, but Thursdays action in several areas was important enough that I wanted to share a few charts. Also a reader ( we shall call him D.F.), pointed out an area of interest that I will touch on here too.
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Lets start with the USD. I saw weakness and have been saying that I expect it to drop. I posted these charts last week.
We have been in Gold & Miners for a while now, but a weak dollar could help Precious Metals and Commodities further. I will cover this more in the weekend report , but for now, what did the Dollar do Thursday?
Read MoreThe markets are always dancing around on a Fed Wednesday, and often the volatility spills over into Thursday. Lets take a look at the charts and see what we can see.
SPX - The markets sold off after the Fed Decision. I called for lows recently and I still expect higher prices to develop from a bounce. You can see that this is how the markets moved coming out of the lows in August too. I do not expect the recent lows to be broken, but a little more downside is not out of the question. Please notice how difficult it would have been to trade the Lows in August/ September.
That being said, the RUT / IWM looks like a bear flag, so lets look at a few other areas.
Lets look at the NASDAQ...
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