The SPDR Gold Shares (GLD) exhibits a series of near-term spike corrective lows that have created a formidable near-term support plateau. The plateau from these lows at 168.65 (from Aug 11), 167.77 (Aug 12), and 168.70 (Aug 15)...
Read MoreNothing goes straight up forever. Although it seems to do that quite frequently. And nothing goes down forever, either. When we fall, we fall hard. But a 2100-point drop is quite a fall, and it happened in just a little over two...
Read MoreIf we look closely at the enclosed patterns, we can make the case that since Aug 8 & 9, spot gold is looking a bit toppy, while the emini S&P 500 and spot silver have a considerably more constructive look. If we...
Read MoreThe stock market indices had a tremendous rally today, and if it hadn’t been for the last 15 minute sell-off, it would have been a monstrous day. As it was, it was huge,but they did take back some of the big gains on late...
Read MoreThe stock market indices had an extremely negative close as the mid-afternoon rally was completely taken back and then some. The day started out with big gaps down, as overnight futures were sharply lower. They stair-stepped...
Read MoreWe all know the market has broken down after losing S&P 500 1249 on big volume. It meant we lost the bottom of the base. It also meant we lost the long-term up trend line from the March 2009 lows. When market breaks like...
Read MoreLooking at the iShares Silver Trust ETF (SLV) from a big picture perspective, all of the action off the major April high at 48.35 has carved out a base-like “cup” formation from early May to late July, which has been...
Read MoreIt was certainly turnaround Tuesday for the stock market indices, especially in the last 75 minutes as the indices exploded, but it was a wild and powerful day. The indices opened higher, immediately pulled back to test the...
Read MoreThis morning marked the second consecutive big up-gap open for gold, with the SPDR Gold Shares (GLD) gapping from 167.81 to 170.15. Yesterday’s gap (from 162.21 to 165.66) came after the GLD challenged its upper channel...
Read MoreThe stock market indices had a very bad start to the week as the stocks plunged today from the get-go on gaps down, rallied back, and then went lower. They did manage to have a mid-morning rally that rolled over hard and went to...
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