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My goal in writing this article was to keep it as simple as possible — not an easy task for me as I’d love to delve deep into the minutiae of analyzing a whole slew of my charts, data, and information I’ve assembled over months and, even years — but, for your sake and the sake of reaching a coherent conclusion and forecast for the fourth quarter of 2019, I’ve had to, considerably, whittle down my presentation. So, while looking through my superpower lenses, here goes…
(more…)How about that…since I wrote my post of January 23, GOLD Futures (GC) finally hit just above its target price of 1550 on August 26…and it carried on to make a 2019 high of 1566.20 on September 4, for a gain of 21.58% from that date.
The moving average Golden Cross, that had just formed a couple of days prior to that, held, price retested the 200 MA (which is normal after these form), and the formation is still in play, as shown on the following daily chart of GC.
(more…)Based on purely technical reasons, which I’ll explain below, I’d hazard a guess that US bonds are not in a bubble. If anything, equities look more like their bubble is about to burst.
The price on the following monthly charts of US 2-yr, 5-yr, 10-yr, and 30-yr bonds is currently trading around their respective regression channel medians, after a lengthy move up over the past year off very oversold lows (around the channel -2 deviation level).
(more…)Senator Lindsey Graham unleashed a series of tweets Saturday morning after learning of drone attacks on Saudi oil refineries.
I’ve yet to hear whether the Saudis will blame/have blamed Iran for the attacks and whether war will eventually be declared against them. It’s been reported that, “Houthi rebels – who are backed by Iran in a yearslong Saudi-led war against them in Yemen – have reportedly claimed responsibility for the attacks and have vowed that further attacks could be expected in the future.”
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