blloyd

blloyd Updated 

Gold miners are clearly worthless now that gold is down 10% from the high. Does anyone know who planned this event?

blloyd

The foundational problem here is that globally there is no growth story that does not involve assistance from central banks, which has been clear for a few years now. Regardless it has been great to be in stocks but, at the end of last year signs of the US consumer slacking off started to crop up. The first signs were in durable goods after that, transports fell...

blloyd

This looks like a bottom for the time being. The divergence on the RSI is not to be ignored.

blloyd

Today's GDX selloff is likely due to an antecipation of a V shaped recovery in the markets.

blloyd

Overhead resistance for GDX is to be found at $35.50 and $39 Assuming that GDX reaches these levels over the next 2 to 4 weeks $NUGT could reach $53.50 and $64.80 respectively. GDX will open above $31 to $31.79 resistance which puts $NUGT at $42.0 to $42.70 Daily RSI will indicate a hold long.

blloyd

It is uncharacteristic for the miners to lag in this way, usually, it goes the other way around. The explanation is simply that the S&P is near all-time highs and has signaled repeatedly to short the gold mining companies and ETFs. GDX resistance in the $31 region is not likely to hold this time. Gold miners are seeing all-time record profits due to gold...

blloyd

As the SPX XAUUSD and DXY dollar index all snake higher it looks as though the S&P 500 is losing steam. Any moves made by the fed or statements by Trump / Mnuchin to stop and reverse the USD milkshake theory from unfolding and reverse the dollar will send XAUUSD higher at an even faster rate. RSI indicates a repeat of the previous move higher in gold. This move...

blloyd

There are a lot of things wrong with this chart on many timeframes. An Edge to Edge move on the 4-hour cloud takes the price into the target area displayed above. - H&S confirmed - Clear momentum reversal - %R still hold short

blloyd

A new top will likely happen on the upper edge (blue band) of the pitchfork, followed by consolidation. Global fiat currency debasement, combined with geopolitical risk and global economic slowdown; make Gold an attractive hedge.

blloyd

People got overly pessimistic on OSTK, taking it down to $6.60. Q4 should look a lot better judging by housing numbers and positive retail indicators.

blloyd

Look for convergence on the ADX and DI indicator to find the next top and consolidation level. This will likely happen on the upper edge (blue band) of the pitchfork. Global fiat currency debasement, combined with geopolitical risk and global economic slowdown; make Gold an attractive hedge.

blloyd

Look for convergence on the ADX and DI indicator to find the next top and consolidation level. Global fiat currency debasement, combined with geopolitical risk and global economic slowdown; make Gold an attractive hedge.

blloyd

Miners have yet to catch up to XAUUSD, It looks like Gold at $1620 will happen within the next month. I estimate that would take NUGT to ~$54.

blloyd

The otherwise bearish gold chart may not touch down on $1400 to $1420 as many expected it to. Trade wars and tariffs along with the debasement of all fiat currencies may trigger the return to higher gold prices. Gold bugs who have been frustrated again and again over the last 5+ years may now see another large scale move as short positions are covered heading...

blloyd

The ascending triangle in the gold price displayed here: Has produced a double bottom and bullish XABCD pattern displayed above in pink on the $JNUG chart. A return to the recent highs will likely send $JNUG back into the $76 to $83 range. Gold is, momentarily, no longer inversely correlated with the stock market. Negative real interest rates globally and...

blloyd

The ascending triangle in the gold price displayed here: Has produced the consolidation wedge displayed in the green triangle pattern above in $NUGT. A return to the recent highs will likely send $NUGT back into the $36 to $38 range. Gold is, momentarily, no longer inversely correlated with the stock market. Negative real interest rates globally and the...

blloyd

Gold is, momentarily, no longer inversely correlated with the stock market. Negative real interest rates globally and the inverse correlation with USD is now the primary driving force in the price of gold.

blloyd

Negative real interest rates and (not QE) QE are repricing the dollar against major world currencies.