Loading ...Tomorrow May Be TOO LATE!
Gold and Silver are a powder keg, ready to blow at any minute. While it is possible for nothing to happen the rest of today, tomorrow could be too late. We have seen many big moves overnight and if one takes place it could leave you on the sidelines come tomorrow’s stock market open. There could be huge runaway gaps at the open. Not worth the risk. Finish your buying while things are relatively quiet. Good luck and best wishes for a happy and healthy New Year!
Agree. Something seems to be simmering.
Some silver chart looks good. GDX, GDXJ, many gold miners look terrible. GDX weekly is still weak and at this point needs to be a H&S until it’s right shoulder is invalidated. If that pattern plays out, it will point to GDX 20!
I cannot see that happening. Worst case scenario it double bottoms and perhaps make a marginal new low to scare the crap out of everyone watching that pattern. Wouldn’t be the first time.
If the stock market crashes, all bets are off however. But again, with the printing presses literally smoking, i cannot see that happening.
me neither, but the PTB may want to crash this Biotch with Biden coming in. That Great Reset thing all the creeps are pushing.
I am going strickly on the charts, price action of the metals and the stocks of the miners. I don’t believe news moves markets, I believe the markets do what they are going to do and the news is applied after the fact as the”reason” why something happened. I believe the upside explosion is hours or at most, days away. Just saw something about Senate may have votes to pass the $2000 instead of $600. If it passes that may be the news used to fit the coming upside explosion?
GDX weekly. Yellow highlight the 2 shoulders. Safe play might be a break of the weekly trendline (blue dotted) which would also rule out the H&S pattern. (These were pointed out by Rambus, one of the best chart guys out there)
https://www.screencast.com/t/azBzkHLNsV7
Whoops, yellow nightlights one
https://www.screencast.com/t/KVL66UbG2EY
GOAU just gapped down 5.36%. WTF??
I am firmly of the belief that gold and the miners have found their bottoms. I agree a large pop is possible in gold in the first or second week of January or even before then (i.e. any day now).
That being said, even if it happens sooner rather than later, this could be shaping up like nothing more than the first half of 2010, where the miners did nothing for the seven months before August 2010–they basically round tripped between February and August. This would be in line with my prior analysis that the miners nnd metals need to cool off and consolidate after the run they have had since 2018. And it is very possible that the miners meet or even marginally exceed their highs from this summer in the next 2-3 months before coming back down.
I am fully invested already, but I will admit I have no idea if we will continue on to blow away this summer’s high in the next few months or if we simply manage to retest those highs and then head back down for a few months before the breakout is possible. Given the historical action in metals and miners, it’s very possible we will be more or less range bound into summer 2021.
It’s also possible that silver and silver miners do their own thing and can manage significantly higher highs while gold and gold miners struggle to match their recent highs. I am overweighted silver miners for this reason.
We shall see. I truly hope you are correct and we can manage to hit or even exceed $50 next year and can manage to tag $40 in the next handful of months.