Daily Archives: May 7, 2017

Aussie Dollar Hinting at Further Weakness for China & Australia

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For many years, the charts have shown that, as China’s Shanghai Index (SSEC) goes, so goes Australia’s Composite Index (AORD), as shown on the multi-year comparison graph below.

However, a closer look at the following year-to-date comparison graph reveals that SSEC’s attempts to continue to advance fizzled in mid-April and is now flat for the year, while AORD remains a bit more elevated. (more…)

Metal Mania

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Gold has been in a general downtrend for nearly six years now. There have been spurts here and there, of course, and those who play the leveraged instruments (DUST, JDST, etc.) in the right direction have been able to make fortunes (or get ground into hamburger). Let’s take a quick look at a few SlopeCharts of what’s happening out there.

First there is the junior miners. Short-term, this is on the low end of a descending channel, meaning that we could get a bounce higher in the days ahead. Longer-term, however, this trendline break is severe. I don’t think any bounce will get GDXJ any more than a few points.