Loading ...GDM – Daily
Using GDM as a proxy for the other indexes as well – HUI, XAU, GDX, GDXJ. They each built out a similar pattern at, on, or near support this month. Whether it might be a continuation pattern to the down side or a reversal pattern to the upside is a coin toss at the moment IMHO.
It seems unusual because, as a rule, the PM indexes don’t hang around much at resistance or support. They usually drop by, kiss the wife, hug the kids, and skedaddle. This could be an important inflexion point.
At the very moment GOLD is poised to break upwards out of its consolidation pattern, the miners are poised to break downwards out of their consolidation pattern if GOLD’s upward advance fails. This is extraordinary weakness on the part of the miners. Honestly, what could it mean?
This is a very go post Foxy
Exactly to the point.
What could it mean ?
For me the sector is BEARISH.
I am accumulating slowly but the weakness in Miners and Silver is NOT a Good Thing ….no siree Bob !
Something is definitely brewing, and a resolution isn’t too far away.
I agree NS something is brewing and it’s been brewing for awhile. Major inflection points in history always seem to take the masses by surprise and the so called people in the know along with it. History altering moments start small and snowball once the masses realize they have a common ambition for change just for the sake of change sometimes. I’m not so sure any paper bourn financial instruments can protect against that type of change. FIAT and debt have been inflated to the point where credit yields negative lol? That is a bubble undeniable NIRP is a bubble. So what is the 180 of NIRP? Debt Free – but how can you when your government has taken it upon themselves to burden the free world with unpayable debts. Anybody who did or didn’t vote is guilty of the current situation. The downfall of Rome is well documented. I particularly like the part where the arts and socialist agenda are the last spike in the empirial coffin. So close with Bernie for POTUS. But hey France Germany and Belgium are picking up the slack.
Is everybody here debt free? The PM’s and the SM that we all watch daily, hourly and probably live stream do we even look at the balance sheets anymore?
GLTA