"Have we not met somewhere before?" -- Nick Rivers, Top
Secret
Similar to the head and shoulders neckline of death that was
seen in $HUI, $XAU and GDX, we now see the weakest recovery sector
(commercial real estate), it is now entering the broad definition
of a bear market (down on the year, 20% off the highs (almost)) and
is clearly not loving any sort of taper action. When I posted
that GDX head and shoulders I was thought to be mistaken.... all
the money printing would make GDX go to the moon. Well, QE
means low interest rates forever, right? Note bearish weekly MACD
crossover and impulsive nature of down moves.
Deja Vu.....
GOLD COULD HAVE MADE THE BOTTOM TODAY
Posted by kalinm on 22nd of Nov 2013 at 03:01 pm
"Have we not met somewhere before?" -- Nick Rivers, Top Secret
Similar to the head and shoulders neckline of death that was seen in $HUI, $XAU and GDX, we now see the weakest recovery sector (commercial real estate), it is now entering the broad definition of a bear market (down on the year, 20% off the highs (almost)) and is clearly not loving any sort of taper action. When I posted that GDX head and shoulders I was thought to be mistaken.... all the money printing would make GDX go to the moon. Well, QE means low interest rates forever, right? Note bearish weekly MACD crossover and impulsive nature of down moves.
Nice charts Kalinm
Posted by steve on 22nd of Nov 2013 at 03:35 pm
Nice charts Kalinm
Thanks for the article.
Posted by hirahara on 22nd of Nov 2013 at 03:12 pm
Thanks for the article.