Gold Channel … Down

10:47 a.m., EST

Contact points confirm channel

Gold (GLD) heading lower

The two hits on the right side channel line provide confirmation of the trend.

An expanded version of the daily is below:

So far, we’ve had the blockage of the Suez Canal. Auto parts being sent to the bottom of the ocean off Japan. ‘Mysterious’ grain silo fires destroying harvested crops.

But wait, there’s more. This just in:

A fire has destroyed the largest grease plant in the U.S.

If transportation is shut down as a result of cyber attack, fuel pipelines off-line, no grease to lubricate the wheels or any number of other (planned … and don’t think there’re not) events, the last thing that’s going to help get anyone through, is a ‘stack’ of inedible metal.

It’s no secret this site’s been using the Biblical precedent of Genesis 41.

That is: Grain and Corn come first … then gold and silver.

The ‘stacking’ public has got this message reversed. Of course, this is not advice or a recommendation.

However, for those that can see, it’s so obvious the goal is ‘controlled demolition’ of the supply chain. All of it.

We’ll put everything back to ‘normal’ if you just get injected.

Meanwhile, biotech IBB, and SPBIO, have both posted a new daily low.

IBB is poised to penetrate the resistance area identified in this update, and come back to test the wide bar.

If that happens, we have a Wyckoff up-thrust in play. More analysis of biotech to follow.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

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