tag:blogger.com,1999:blog-7179384084412903332.post4410537016128869582..comments2023-07-14T07:39:33.346-07:00Comments on Gold Scents: CHART OF THE DAYToby Connorhttp://www.blogger.com/profile/07774977275885524428noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-7179384084412903332.post-72458592927688823412014-07-25T12:45:22.794-07:002014-07-25T12:45:22.794-07:00Interesting Gary watching the action into the clos...Interesting Gary watching the action into the close, Gold has had a decent bounce off $1287 200dma up nearly $20 yet the miners who are to lead the bullish charge are not setting off any fireworks, GDX up only 2.09% GDM 1.80% HUI 1.8% and the leader of the pack for 2014 GDXJ up 3 %.....Next Thurs close for July and the weekly on Fri is going to be very interesting indeed!.............jj<br /><br />I think that red arrow you have on the CRB chart going to da moon at 1650 is a bit rich..................................just kidding, I know your showing the possible trend outcome.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7179384084412903332.post-57173144460472492062014-07-25T09:29:04.987-07:002014-07-25T09:29:04.987-07:00This last year since the announcement of the QE ta...This last year since the announcement of the QE taper almost every FOMC date has produced a Bear or Bull trap knee jerk reaction....Fri close and the following Mon action will be a better indicator, I'd rather have confirmation of a new uptrend in place or not ....than bottom fishing...........jjAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7179384084412903332.post-18143355509643168912014-07-25T09:13:01.442-07:002014-07-25T09:13:01.442-07:00Thanks for the answer. I hope the knee is healing...Thanks for the answer. I hope the knee is healing fast!<br />JoshAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7179384084412903332.post-58466551475538094082014-07-25T09:07:57.073-07:002014-07-25T09:07:57.073-07:00I think we will know by next Wed. when the GDP and...I think we will know by next Wed. when the GDP and FOMC are announced.Garyhttps://www.blogger.com/profile/14556370683669428668noreply@blogger.comtag:blogger.com,1999:blog-7179384084412903332.post-72261372369508480292014-07-25T09:00:21.143-07:002014-07-25T09:00:21.143-07:00Gary, your 1292 level in gold seems to be holding ...Gary, your 1292 level in gold seems to be holding for now. Do you think the gold pull back is over? <br /><br />JoshAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7179384084412903332.post-60871100516927231802014-07-25T07:45:09.688-07:002014-07-25T07:45:09.688-07:00I dobt the S&P will be able to get through 200...I dobt the S&P will be able to get through 2000 without at least a multi week consolidation or a full on intermediate cycle correction. Garyhttps://www.blogger.com/profile/14556370683669428668noreply@blogger.comtag:blogger.com,1999:blog-7179384084412903332.post-47826364832500775852014-07-25T07:37:07.170-07:002014-07-25T07:37:07.170-07:00Yes, we know that... but my point was that such da...Yes, we know that... but my point was that such data usually is an excuse for the markets to rally hard isn't it?Bob UKnoreply@blogger.comtag:blogger.com,1999:blog-7179384084412903332.post-90478500637407072942014-07-25T07:27:30.171-07:002014-07-25T07:27:30.171-07:00Bob, ALL global government data is 100% Bull !!Bob, ALL global government data is 100% Bull !!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7179384084412903332.post-46229540616414817962014-07-25T07:20:36.228-07:002014-07-25T07:20:36.228-07:00Surely they will 'fix' the US GDP figures ...Surely they will 'fix' the US GDP figures out next Wednesday(?) to be very positive and the conventional markets will simply surge upwards as a result?<br /><br />Or is that a simple view of it?Bob UKnoreply@blogger.comtag:blogger.com,1999:blog-7179384084412903332.post-24119274914524194722014-07-25T06:35:45.730-07:002014-07-25T06:35:45.730-07:00Gary, if you look at the $CRB:$SPX ratio chart the...Gary, if you look at the $CRB:$SPX ratio chart the turn maybe in process already as it bottomed early Jan at .148 and the indicators turned positive again last week at .1493<br /><br />Any ratio chart of $Gold:$SPX or GLD, GDX, GDXJ, HUI they are a different read as their indicators are turning negative and the trend line lows of late Dec and June are a lot lower.<br /><br />Both Gold and Silver hit their 200dma on the daily chart Thurs, that's now the key level for Bulls and Bears $1287 and $20.34..........jj Anonymousnoreply@blogger.com