Can you copy that chart and use it in your updates Matt? Comes from the sentiment king. I think he used to head of trading at Morgan Stanley. Probably in his mid 70's from the photo I saw.

$GOLD initial upside target parallel channel: https://static.seekingalpha.com/uploads/2024/4/7/675703-1712544632770399_origin.png

Gold lined up with peaks and troughs in GLD puts versus calls: https://static.seekingalpha.com/uploads/2024/4/7/675703-17125171705946884_origin.png

Matt used to keep track of this some years ago. Gold bullion bank short positions. Gold tends to bottom into lows on this data as shown at every turning point:

https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa41e7ab5-cb96-40c8-9d4d-bf78cb2469a6_1538x699.png

Matt used to keep track of this some years ago. Gold bullion bank short positions. Gold tends to bottom into lows on this data as shown at every turning point:

https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa41e7ab5-cb96-40c8-9d4d-bf78cb2469a6_1538x699.png

Its a New Year.  May the New Year bring everyone joy, peace, love, financial freedom and happiness. To find inspiration watch this trailer for Gratitude Revealed and watch the movie when you have time for free: https://gratituderevealed.com/watch-film/

Inspiration ---   https://www.louiechannel.tv/       

Glad a bought this little Gold miner, just before they bought out GFI's 50% ownership of their mine without shareholder dilution. Should now have nice moves relative to Gold price increases:

https://stockcharts.com/h-sc/ui?s=GAU&p=W&yr=4&mn=0&dy=0&id=p01911711915&a=669809756&listNum=61

Flipped this week to bullish longer term pattern:     https://stockcharts.com/freecharts/pnf.php?c=GDX,PWAAWANRRR[PA!E20,2][D][F1!3!1.0!!2!20

Matt, I see that GDX had a DeMARK 13 on Friday. The RSI 5 is at 93 with no negative divergence. How should we interpret a DeMARK 9 followed by a DeMARK 13? 

Is it likely to pull back now? Seems like not a very good time to add to any mining equity positions.

Nice breakout on the monthly Silver chart. How far, how fast? I went heavy into Silver miners on October 4th.  Tried to pick the highest beta ones in the run ups in 2010, 2016, and 2020 as the Gold divided by Silver ratio suggests its time for another run like that in favor of Silver.  Think this run goes until they take out their Feb 2021 highs. That run lasted 11 months. Longer holds at consequential turning points is my favored trading style. Thankfully it seems to have been a good move. The only one I don't like is EXK because they diluted their stock right into the lows to make sure they had enough capital to build the Terranova mine. Stupid management decision.  Got into CDE not long after I saw that 2.00 low compared to 1.98 in 2020 when Silver spiked down to 11.64 versus prices today on their monthly chart.  Bought all these below.

https://stockcharts.com/h-sc/ui?s=$SILVER&p=M&yr=14&mn=0&dy=0&id=p49817448586&a=1121677380&listNum=61

https://stockcharts.com/h-sc/ui?s=$GOLD:$SILVER&p=M&yr=14&mn=0&dy=0&id=p49817448586&a=1121677380&listNum=61

https://stockcharts.com/h-sc/ui?s=SILV&p=M&yr=14&mn=0&dy=0&id=p49817448586&a=1121677380&listNum=61

https://stockcharts.com/h-sc/ui?s=FSM&p=M&yr=14&mn=0&dy=0&id=p49817448586&a=1121677380&listNum=61

https://stockcharts.com/h-sc/ui?s=GATO&p=M&yr=14&mn=0&dy=0&id=p49817448586&a=1121677380&listNum=61

https://stockcharts.com/h-sc/ui?s=SVM&p=M&yr=14&mn=0&dy=0&id=p49817448586&a=1121677380&listNum=61

https://stockcharts.com/h-sc/ui?s=HL&p=M&yr=14&mn=0&dy=0&id=p49817448586&a=1121677380&listNum=61

https://stockcharts.com/h-sc/ui?s=CDE&p=M&yr=14&mn=0&dy=0&id=p49817448586&a=1121677380&listNum=61

https://stockcharts.com/h-sc/ui?s=MAG&p=M&yr=14&mn=0&dy=0&id=p49817448586&a=1121677380&listNum=61

GDX has had a bearish point and figure chart for months. Yesterday, that changed: https://stockcharts.com/freecharts/pnf.php?c=GDX,PWAAWANRRR[PA!B20][D][F1!3!1.0!!2!20]

See the weekend newsletter just posted but its really the Sept 20th, newsletter

Aside from WPM, only one other Silver miner has a bullish point and figure projection currently. According to their recent update, at the end of the quarter, all their drilling will like lead to a report that the mine life of the high grade Silver mine will increase by six years. It tanked before when the resource base was cut back. Hence the renewed drilling to prove it up. Impressive projection:

https://stockcharts.com/freecharts/pnf.php?c=gato,PWAAWANRRR[PA!A][D][F1!3!1.0!!2!20]

See Ray Dalio owns about 30Million worth of LU. Took a modest position. Point and Figure chart with reversal flag. Above 2.00 triggers target: https://stockcharts.com/freecharts/pnf.php?c=LU,PWTADANRRR[PA!E20,2][D][F1!3!!!2!20] 

Anyone else not getting any sound on the newsletter?

Artical commenting on the just released IPCC report on Climate Change and impacts on human civilization and the economic stability:

https://medium.com/eudaimonia-co/we-just-got-our-final-warning-on-climate-change-and-its-terrifying-bdd2db4f61f2

Bollinger band is extremely tight on ZSL: https://stockcharts.com/h-sc/ui?s=ZSL&p=D&yr=0&mn=7&dy=0&id=p87833089133&a=334149954&listNum=61

https://www.elliottwavetrader.net/p/analysis/GLD-Trying-To-Break-Out-202301138269610.html

One of the Elliot wave guys thinks Gold may try a direct breakout above resistance without a proper wave 2 correction. Does he know that retail sentiment on Gold is 92% bulls. How much more room to the upside is there with that many on the bullish side?

"As I write this, the GLD is attempting to break out despite not seeing a clearly defined 2nd wave.  Yet, the GDX or silver have not done so.  Moreover, the MACD has now turned up again even though it has not turned down to the ideal pullback set up.  So, it may attempt a direct break out.

But, if the GLD will break out, I would expect GDX and silver to follow. So, I will be watching these resistances over the coming week."

https://stockcharts.com/h-sc/ui?s=CGC&p=W&yr=4&mn=0&dy=0&id=p1430031897c&a=648303529&listNum=36

Look at the volume on the weekly chart. Looks like a 1, 2 pattern with more upside to come.