I will be traveling Tuesday-Thursday. The Precious Metals update will not be posted on Tuesday. Other postings will depend on time and conditions permitting. Please check here at the usual times for announcements.
While the broad market averages have yet to confirm a 6 month cycle top, the cycle screening measures continue to suggest that one is under way.
The 6 month cycle projection range widened in spite of the SPX giving a little ground. 6 month cycle indicators remain mostly on the buy side.
Gold must hold above a key benchmark to keep the uptrend intact.
Cycle screening measures rebounded enough to prevent a breakdown to a new low on the aggregate indicator but not enough to signal a decisive turn.
SPX rebounded enough to prevent the 6 month and 10-12 month cycles from rolling over. 4 week and 13 week cycle lows were due
Treasury supply has been light through mid month while the Fed injected far more cash than new Treasury supply would absorb.
While the media focuses on the meaningless short term squiggles in consumer confidence indicators, I like to look at the long term trend. I like it because US consumers in the aggregate are far better forecasters of markets and the US economy than are the professional economic and financial pundits who are so focused on…
It would surprise us if Chairman Janet Yellen of the Federal Reserve were not already huddling with lawyers about the danger ahead. That’s our take-away from her testimony this week with the oversight committees in the House and Senate. We don’t mean to suggest that Mrs. Yellen is in peril for any personal wrongdoing. We…
Gold has established short term support and resistance areas that define a new trading range which must be broken before a new up or down swing can get under way.