The time is at hand for gold stocks to prove a phase change similar to 2001-2003
Gold Stocks: The Time is Now
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Nasdaq 100 Futures (NQ): Video Update
The Nasdaq 100 E-mini Futures (NQ) have spiked to the top of a trend channel
This market has put TAs using nothing but their lines and squiggles in a blender and routinely ground them up. I have seen so many technical setups busted this year (AMAT, for example) in a warning not to be a TA or follow TAs that use only charts with no additional inputs.
Yet this update does just that, uses a chart and literally interprets a point where if NQ is going to fail, it would need to do it at that point. You can follow my new YouTube channel if you’d like.
The Gold Price is Dropping!
The gold price is taking a hit but, importantly, crude oil is taking a harder hit
Let us hear no ghost stories about Banksters attacking gold or as Larry would say inflicting a “take down” on poor old gold, as if it’s planned, personal and a war of good vs. evil. Well it is, but “evil” is a moving target and sometimes wolves hide in sheep’s clothing.
(Editor's note: Good Lord!)(more…)
Q4 2023 Broad Seasonal Situation
SPX bounce underway, but resistance upcoming
This article discusses one diverse component of the broad global markets; the US S&P 500. The market has some poor underpinnings that we routinely keep track of in NFTRH and are beyond the scope of this public article. Also beyond the scope are macro risk indicators, including the US dollar and its relationship with the Gold/Silver ratio.
Filtering all of that out, we have anticipated a seasonal bounce or rally due to market sentiment well biased to over-bearish, oversold conditions and the seasonal pattern (on average) for SPX that has turned up, as per this graphic first presented in NFTRH 779 on October 15.
(more…)Will Gold Mining Stocks Look Past Q3?
Gold mining stock charts have not yet confirmed a sustainable rally, and Q3 fundamentals may be a headwind
We have used this daily chart of the gold stock ETF, GDX in written and video updates to keep NFTRH subscribers apprised of the progress of the bounce from the early October low (after previously using the chart to manage the long correction that began with the May double top).
Let’s update the daily technical situation by noting that the GDX rally has halted where it should have halted, as we’ve expected resistance at or below the 200 day moving average (30.49) and/or clear visual resistance at 30. The pullback is in progress and has done a good thing by filling the upper gap as it grinds and tests the 50 day moving average. All normal.
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