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Yes, I'm talking about Gold again...
Read MoreIt seems that many things within the market structure are lining up again. Let's take a look...
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SPX - We did get our initial burst higher out of the anticipated lows as shown on the 2 charts below.
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This was Oct 31 - Anticipating the trade-able low
SPX now - We got the lows and the initial run higher, but will it continue? Notice how the 13 SMA affected the first run. The 2nd run tagged it and then crawled sideways for weeks. No good trade resulted Long or Short for months last summer, and that may happen again. It can still be bought or held above that 13 sma.
Read MoreWhen you look at the flowers in the above picture, you cannot really tell what the future will hold at this point. It is hopeful as we begin to see growth, but the surrounding conditions are difficult. Will it remain too dry for growth or will some refreshing rains begin to nurture it? And even if all of the conditions exist for solid growth, will it avoid being trampled on?
What does this have to do with the Precious Metals market? We'll compare this flowers future with the dry conditions that we've seen in that sector lately and discuss future prospects.
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