3, 2, 1, Aaaaannndddd…. 8/7/20

by Lee Adler • August 7, 2020

Jobs Friday. Tax data said for July said yooge upside surprise. The as/of date is July 12. Meanwhile- This is a 45 minute bar chart. At 3:30 AM it’s saying we’re either at the bottom of this pullback, or half way down. 3335 is key hourly resistance trend.

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Lee's Free Thinking

Line Dancing is All the Rage 8/6/20

by Lee Adler • August 6, 2020

This is ridiculous. Absurd even.

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Lee's Free Thinking

This Charts Says Gold $4000 in DECEMBER!

by Lee Adler • August 5, 2020

This chart says the price of gold will double in 4 months. Is now a good time to get aboard?

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Lee's Free Thinking

Gold is OVERBOUGHT!

by Lee Adler • August 5, 2020

Interesting that you say gold is overbought. It’s just now reaching intermediate price projections after it recently broke out of a multi-year high, with a conventional measured move objective that’s significantly higher. Short term projection was 2125. I wouldn’t sell it at least until it breaks a trendline.

This really is just the mirror image of the ongoing collapse in the dollar. Here’s where it’s headed.

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Lee's Free Thinking

There’s No Mystery 8/5/20

by Lee Adler • August 5, 2020

Nobody knows what the Fed will do over 5 months. The Fed itself doesn’t know. Nor does the Treasury know how much it will need to borrow that far in advance. The TBAC is pretty good for the current quarter after they’ve had a look at the first 6 weeks, but their estimates for the next quarter are usually way off. Like most econ forecasters they suck at it. But there’s no mystery what the Fed will do…

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