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.
This past Wednesday, Senior Gold Miners GDX, retraced to 50%.
Thursday, price action tested that level and closed lower.
On the chart below, we’re going to present price action facts; leaving out ‘hyperinflation’, YouTube grifting, ‘dollar destruction’, ‘it’s all ending tomorrow’, click-bait.
Before getting to the chart, let’s add, on this site, it’s always been about the food supply first, then gold and silver, link here (not advice, not a recommendation).
The video at left, is five years old.
Since then, there’s been a massive learning curve concerning livestock.
All but one of those hens is gone now, she being retired, having produced 850 – 900 eggs.
Others have been brought in to continue the supply.
Now, on to the click-bait 🙂
Senior Miners GDX, Daily
GDX, posted an up-thrust, March 2nd, then collapsed a whopping -32.8%; read that, as ‘coincidental’ 33%.
It’s now retraced to 50%, and also in a potential channel.
Volume for yesterday contracted on the test, but it was also a pre-holiday trading day.
So, let’s just note that and not put undue weight on the fact, commitment to the upside was weak (not advice, not a recommendation).
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.
Putting aside the YouTube ‘silver to the moon’ hype, ‘dollar destruction’, and ‘economic collapse’ narratives, along with every other form of hysteria or mania du jour, we’re going to try something novel; like just looking at the chart of silver (SLV), itself.
Silver Tracking ETF, SLV: Weekly
There it is.
The last top and reversal, kicked off a bear market lasting about nine-years.
This time around, downward thrust pressure (Force Index) is more than double that of the previous reversal (not advice, not a recommendation).
It’s interesting, we don’t hear any more stories about silver bullion being flown to the LME.
That’s because the last such flight was (reportedly) way back in October, link here.
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.
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.
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.
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.
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.
This is not 1980, or 2011, says the report at this link. Website, link here.
The premise for ‘it’s different’, is the demand for ‘physical delivery’.
The chart in yesterday’s post, showed tracking fund SLV, very close to its Fibonacci 161.8% projection, near 76.30.
If we refer back to recent interviews with Ed Dowd, and to some extent, Bert Dohmen, they both talk about the current bubble(s).
However, Ed Dowd in particular, discusses the potential for a ‘deflation scare’.
That in turn, allows a provocative thought:
Maybe, deflationary pressures are so intense, the only way to get a blow-off mania spike (this time), is to demand delivery and stress the infrastructure (not advice, not a recommendation).
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.
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.
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.
The Danger Point® 