GLD has seen three major drops during its consolidation that always made significant new lows. We are in the midst of a forth. What makes this one different is that the preceding price action is more bullish. This demonstrates strength not seen with the other drops and so I don't see this one making a new low. If we see it drop below 166 (there are valid...
Just listened to a great interview on the Market Huddle podcast feat. Michael A. Gayed from the Lead / Lag report. Great interview!
So one of his leading indicators discussed was the LBS/GLD ratio and it actually correlates quite well. Although it predicted the 2018 Christmas crash much more distinctly (with a slight trend break down to the trend line false...
Not gunna lie, this position makes me sad.
But when the charts change, my mind changes too
Classic bull trap here. Its consolidating before its next leg down. I think it is going to retest the lower boundary of the parallel channel.
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Stochastic Momemtum Index - a true strength indix tsi with a moving average signal.
This uses the built in with modifications per Anne-Marie Baiynds recommendations - she uses a SIMPLE MOVING AVERAGE
for the signal (signal length at 4x the short length seems to work best to reflect actual price action support or resistance)
see a YouTube vid (Note: settings in...
... for a 1.78 credit.
Notes: Building up a GLD position a little bit here on this recent weakness. Targeting the strike that pays at least 1% of the strike price in credit, which here is the 22 delta 163. Going out to March, as I already have some on in February.
Despite today's correction, if this pullback was considered to be the wave 2 corrective, then the overall expectations have been raised for a wave 3 to 200, wave 4 pullback to 190, and ending in the 5th wave to 220.
Disclaimer: The proceeding content is informational only and based on information available when created. It is not an offer or a solicitation nor is...
Weak dollar, strong gold, with the stimulus is sending out and another bigger check is getting ready, I don't think there is better reason for gold to go bearish in 2 3 months
Consider this as falling wedge, we're trading break out as usual, TP1: 180-181 zone, TP2: old ATH.
I can also see cup and handle on a Monthly chart which is why I wouldn't trade Gold either way at the moment. It's above Weekly SMA40 and I wouldn't short it for sure as long as that it the case. It's still holding VWAP from ATH as well.
Reason why I publish this idea is to be able to follow the price nothing more, it is not an investment advice of any kind, I'm a...
GLD formed a nearly decade long base. Resistance was broken but overhead supply was dumped on heavy volume and the price action quickly retreated below the former high. GLD downtrend ever since. Closed below its 150MA. Bearish for GLD and safe heaven assets. Bullish for risk equities. Don't fight the trends.
The inbound stimulus will cause a flight to inflation protection type assets such as gold and bitcoin. GLD being the most popular and heavily traded in terms of volume is the obvious choice to play gold prices directly. As fiat currencies lose their value, gold prices will rise.
This is also a good ETF to use for options because of how heavily it is traded, it...
Thesis: Market structure for Gold is playing out similarly to the 2008 crash of the S&P500. With the FED rapidly increasing QE, it makes sense that the S&P 500 will see gains for the next year or two, and gold will continue to bleed until we reach an overall market top. From that point on, I expect a huge bull market for precious metals (GLD & SLV).