Here are today’s gold stock screens and data, along with cycle conditions and projections for gold and HUI index, and Chart of the Day...
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With many traders away this week and extremely light trading, it’s easy to be suspicious of the numbers. Be that as it may, they continue to strengthen, with intermediate cycle projections now all pointing higher than they were a few days ago.
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The slight advances in the SPX over the past 2 days has caused some ambiguity to develop in the indicator picture. It is no longer a monolithic bearish sweep.
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The question hanging over the market now is what Ben will do. The technical picture suggests that traders are predisposed to react a certain way, but there’s a key support level that could send a signal one way or the other depending on whether it holds or breaks.
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The test of the lows has arrived and it does not appear that they will hold for long.
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Wild gyrations have become the norm as cycles apparently remain juxtaposed to one another in an illiquid environment. The churning will continue until the expected downturn in the 13 week cycle. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within...
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There are some indications that the market is at or within a day or two of a short term low, including the testing of major support, but intermediate signals suggest that 6 weeks of decline lie ahead.
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The market took a normal breather one day after a triangle breakout.
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The market marked time again on Wednesday. The underlying indications showed no sign of weakness.
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The rally was based more on a knee jerk news reaction than any cyclical flows, ostensibly because some French banks agreed to let Greece default and not call it a default. There are no clear signs yet that it will be sustained. We’re getting into the mid stage of a 13 week cycle up...
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The market took a step toward signaling the13 week cycle turn that is due. Most downside projections have been hit but few indicators are confirming a turn. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t...
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The market appears set for a rally, mostly on the basis of the short term indicators, as we head into the last month of QE2.
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Technical indicators continue to strengthen as the market rises. There’s not much here for bears other than potential resistance in the 1370s. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I...
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The market has reached a moment of truth with short term indications hinting at a stop here, while intermediate indicators are pointing up, but without much momentum behind them.
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The Fed can pump all the money in the world. If their dealer henchman are scared, or just craven, it won’t matter. They won’t deploy it, and they’ll just short the market to hell. That’s what this market is beginning to smell like. Click here to download complete report in pdf format (Professional Edition...
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Support held on Thursday, but most indicators continued to weaken, including both broad market indicators and cycle screening measures. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you...
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7 of the nine cycle based stock screen measures were slightly weaker. These are not the kind of numbers that would strike fear and trepidation into the hearts of bulls.
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Now that the distortions induced by the homesucker’s tax credit have been removed from the market, housing trends have returned to where they would have been. New and existing unit sales have collapsed. New unit prices have also collapsed, as the temporary artificial shortage that resulted from the tax credit demand bulge, has reverted...
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13 week cycle indications grew stronger again on Thursday. New signals were strong on the buy side while current status indications stayed on the sell side. This cycle should be in a down phase, but prices are refusing to turn down. Click here to download complete report in pdf format (Professional Edition Subscribers). Try...
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Short term signals aren’t even relevant at the moment, because short term cycles have been overtaken by the strength in intermediate cycles. The 6 month cycle numbers are the ballgame. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that...
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The dollar strengthened dramatically in an apparent short squeeze that triggered liquidation across most asset types. The dollar has emerged strongly from a formidable bottom on the charts, as the first response of dollar carry traders to double down and increase their bets back in December has come back to bite them and the...
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Most market participants do not seem to notice the creeping weakness. Complacency abounds, and that is a dangerous situation. Most players are oblivious to the danger signs. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t...
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This week was a big week of Treasury auctions, with $54 billion in new supply. The vast majority of that won’t settle until next week, and $40 billion of it was in short term paper. So the bond market is getting a huge break this week and next. Even though the Fed buying will...
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Little changed in the technical picture on Tuesday. Most indicators remained in bullish patterns with the notable exception of some 6 month cycle indicators. However, the price projection for that cycle continued to rise. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty...
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On the Treasury front, this week’s paydowns were only $13 billion, but next week the Treasury will swing to a huge negative influence as it dumps mass quantities of new supplies of 3, 5 and 7 year notes on the market. Depending on the size of the 4 week bill auction and whether or...
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On the Treasury front, this week’s paydowns will be only $13 billion, and next week the Treasury will swing to a huge negative as it dumps mass quantities of new supplies of 3, 5 and 7 year notes on the market. It will not be pretty and it will only get worse for the...
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