Gold $GLD found buyers at the 38.2% retracement of the April low to the Aug high, that retracement is also the VWAP anchored off the Apr low. That is the good news for gold bulls. The bad news is, there's a lot of price memory ahead that will likely take time to work thru […]
Chart of the Day – Friday, November 15th, 2019
Always an interesting chart to look at $SPY vs $GLD & $TLT #IntermarketAnalysis pic.twitter.com/syPOIP5HYi — Grant Hawkridge (@granthawkridge) November 15, 2019 Today’s Chart of the Day was shared on Twitter by Grant Hawkridge (@granthawkridge). On top is a daily candlestick chart of the S&P 500 ETF, $SPY. In the middle is $SPY/$TLT, and on the […]
Evidence On Both Sides
If we were witnessing a real trial-by-jury (which, at the end of the day, is actually what the market is), I think it’d be safe to say that bears and bulls both have pretty solid evidence to put forth in their favor. Yes, there have been sub-industries that have done well and that we have […]
Gold Forming This Ominous Chart Pattern
Gold has had an impressive run this year. It’s up 25.35% over the trailing twelve months, while the S&P 500 is only up 2.59% over the same period. However, several traders and analysts have pointed out that Gold is forming a head and shoulders top on the daily chart. Gold futures are currently down over […]
Chart of the Day – Monday, September 30th, 2019
Today’s Chart of the Day was shared by Greg Rieben (@gregrieben). It’s a daily candlestick chart of Gold futures. Greg points out that Gold has formed a “textbook” head and shoulders pattern. This bearish chart pattern has developed over the past two months. Gold has been on quite the run this year. It’s currently […]
