Monday, September 28, 2020
Gold Stocks Seasonal Plunge / Commodities / Gold & Silver 2020
By: Zeal_LLC
The gold miners’ stocks have just been hammered, plunging to new correction lows. That shattered their indexes’ 50-day moving averages, pounding nails in the coffin of this sector’s recent high consolidation. This necessary correction probably isn’t over yet. It is still small and short compared to this bull market’s precedent, the gold stocks are nowhere near oversold, and they are heading into a seasonal-plunge month.
Seeing the gold stocks rolling over into a correction shouldn’t surprise anyone. They enjoyed a great run, as evident in their leading and dominant sector benchmark the GDX VanEck Vectors Gold Miners ETF. From mid-March’s pandemic stock-panic lows to early August, GDX rocketed 134.1% higher in just 4.8 months! That powerful and fast upleg left gold stocks seriously overbought, necessitating a correction.
That healthy process to rebalance stretched technicals and greedy sentiment began right away. In the first four trading days after GDX peaked at $44.48 in early August, this ETF plunged 12.2%. The major gold stocks of GDX mirror and amplify gold, which overwhelmingly drives their earnings. So the gold-stock selling ceased with gold’s own sharp selloff. Gold had shot parabolic to extraordinarily-overbought levels.
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Monday, September 28, 2020
Why Did Precious Metals Get Clobbered Last Week? / Commodities / Gold & Silver 2020
By: MoneyMetals
Precious metals markets got clobbered early this week as gold and silver broke down from their high-level consolidations.
Strength in the U.S. Dollar Index seemed to be the catalyst that got the selling going. Once key technical levels got breached, the selling intensified.
Gold prices fell below the $1,900 level on Wednesday. Meanwhile, silver plummeted below $24 an ounce and traded as low as $22 on Thursday before recouping some of those losses by the end of the trading day.
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Monday, September 28, 2020
Is The Stock Market Dow Transportation Index Setting up a Topping Pattern? / Stock-Markets / Stock Markets 2020
By: Chris_Vermeulen
RESEARCH HIGHLIGHTS:
- The Transportation Index, has been unusually aligned with the S&P 500 over the past 8+ months.
- Classic Japanese Candlestick top/sell reversal “Three Rivers Evening Star topping pattern” setting up.
- We may see a much bigger downside price move where price attempts to find support near 9,800 or 9,200.
The Transportation Index, which typically leads the US stock market by 2 to 4+months, has been unusually aligned with the S&P 500 over the past 8+ months. Recently, though, the Transportation Index has rallied up to recent new all-time highs (over the past 9+ months) and has rotated lower – below resistance near 11,440 (the MAGENTA LINE on the first chart). Our researchers are warning us that any continued breakdown below this level could prompt a bigger downside market move.
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Sunday, September 27, 2020
China Ramps Up U.S. Crude Oil Imports As Elections Near / Commodities / Crude Oil
By: OilPrice_Com
China has been buying a lot of U.S. crude oil lately, perhaps in a belated attempt to fulfill some of the energy import quotas agreed with Washington last year or perhaps in a bid to take advantage of supercheap U.S. crude. But the buying spree is about to end.
This month alone, China could import between 867,000 bpd, according to Reuters' Refinitiv data, and 900,000 bpd, according to oilfield services company Canary. And then the flow of U.S. oil into China will decline, and it will decline sharply, Reuters' Clyde Russell wrote this week. The reason as simple as it is worrying. The U.S. crude that has been going into China since July—and reaching major records in terms of volume, with the July daily average alone up 139 percent on the year—was bought much earlier, in April, May, and June. This was oil bought when West Texas Intermediate was trading at multi-year lows. By June it had recovered to about $40, Russell notes, so purchases since then have been more modest.
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Sunday, September 27, 2020
Will Next SPX Cycle Be Directional Opposite Of March-September? / Stock-Markets / Stock Markets 2020
By: Mike_Paulenoff
Typically exhibiting a 100 to 110 trading day cycle from low to low, the S&P 500's cycle low on March 23 was actually 117 days after the prior cycle bottom in October 2019.
The 117-day cycle that hit its low on March 23 initiated a new cycle that -- owing to massive Federal Reserve liquidity injection -- climbed relentlessly for 114 days into the September 2 all-time high at 3588.11.
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Sunday, September 27, 2020
Gold Price Setting Up Just Like Before COVID-19 Breakdown – Get Ready! / Commodities / Gold & Silver 2020
By: Chris_Vermeulen
RESEARCH HIGHLIGHTS:
- Gold rebounded quickly and broke to higher prices after the COVID deep selling.
- Our Fibonacci support levels for Gold are resting near $1,885, $1,815 & $1,790.
- More downside pressure on price is possible, but if support is maintained at $1,885 then we could see a big upside recovery trend take Gold to $2,250.
Just before the COVID-19 collapse in the markets hit near February 25, 2020, Gold started a double-dip move after reaching $1,692 on February 24. First, Gold dipped from $1,692 to $1,564, then recovered to new highs ($1,704.50) on March 10, 2020. Then, as the deeper COVID-19 selling continued, Gold prices dipped again – this time targeting a low level of $1,450.90.
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Sunday, September 27, 2020
UK Coronavirus 2nd Wave SuperMarkets Panic Buying 2.0 Toilet Paper , Hand Sanitisers, Wipes... / Politics / Pandemic
By: Nadeem_Walayat
Britains incompetent government has once more lost control of the Chinese Coronavirus pandemic that is now at the very beginnings of a second wave that looks set to be about half as severe as that of March and Aprils first wave and as was the case before the Panic buying has once more already begun starting at major super markets such as Tesco and Morrisons who Friday announced restrictions on items purchased on many goods including hand sanitisers, toilet rolls, flour, pasts, baby wipes, antibacterial's and eggs which is likely to spread to many other supermarket goods as the number of local lockdown's multiple in the face of the exponential spread of the virus that has now passed above r 1.5. Though hopefully to nowhere near the extent of March panic that this video illustrates of just how bad things could get once more all courtesy of an incompetent government advised by moronic mad scientists who are more interested in feathering their nests then giving useful advice hence you cannot blame people for panic buying when faced with morons in charge!
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Sunday, September 27, 2020
Gold, Dollar and Rates: A Correlated Story / Commodities / Gold & Silver 2020
By: Arkadiusz_Sieron
Mining production? No. China’s consumer demand? No. The main drivers of gold prices are, as I’ve repeated many times, the U.S. dollar and real interest rates. You don’t believe it? You don’t have to – just look at the charts below.The first one displays the greenback and the dollar-denominated price of gold. Because other series start much later, I used here the Trade Weighted U.S. Dollar Index against major currencies that circulate widely outside the country of issuance. Although the correlation is not perfect, the inverse relationship is quite strong and bull and bear markets in gold coincide with the bear and bull trends in the U.S. dollar.
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Sunday, September 27, 2020
WARNING RTX 3080 AIB FLAWED Card's, Cheap Capacitor Arrays Prone to Failing Under Load! / ConsumerWatch / Computing
By: HGR
There is growing disquiet across the blogosphere surrounding the RTX 3080 AIB cards that goes beyond the frustration of lack of supply and this is because of countless reports that AIB card's are proving problematic for many users that whilst playing GPU intensive games result in issues such as artifacts on screen or that they end up being kicked back to their desktops which suggests an issue when the GPU's are under heavy load i.e. at high boost clock speeds and temperatures.
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Friday, September 25, 2020
Boris Johnson Hits Coronavirus Panic Button Again, UK Accelertoing Covid-19 Second Wave / Politics / Pandemic
By: Nadeem_Walayat
Britains incompetent government has once more lost control of the Chinese Coronavirus pandemic that is now at the very beginnings of a second wave that looks set to be about half as severe as that of March and Aprils first wave in advance of which British Police have been steadily given new powers to accumulate arrest points towards criminalizing people who for instance don't wear masks or are found in groups of 6 or more whilst those who breach self isolation rules could be hit with fines of upto £10,000. Police forces increasingly putting high risk areas and groups of people under surveillance, which translates into ethnic and deprived areas receiving special attention, officers roaming the streets, shops and super markets looking for law breakers with even plans to deploy the army in support of the police towards enforcement of local lockdown's.
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Friday, September 25, 2020
Precious Metals Trading Range Doing It’s Job to Confound Bulls and Bears Alike / Commodities / Gold & Silver 2020
By: Rambus_Chartology
The trading range on the HUI and other PM stock indexes continues its job of confusing both the bulls and bears alike. I’ve always said that trading an impulse move is much easier than trading during a consolidation phase. During a strong impulse move up it is easy to see the price action making higher highs and higher lows. Trading during a consolation phase is usually completely different.
Below is the daily chart we’ve been following for the HUI which shows the morphing triangle that has been in play since the first of August. Last week the price action made a feeble attempt to breakout above the top rail which was quickly negated when the HUI traded back inside of the triangle. Today the price action gapped below the 50 day sma and found support on the bottom rail which completed the 7th reversal point.
I added a parallel blue trendline taken from the top rail of the blue triangle if that pattern morphs into a bigger consolation pattern that could either be a bull flag or a bullish falling wedge depending where the last reversal points comes into play. I’ve also said this many times as well in the past that the 4th or last reversal point in a consolation pattern is always the hardest to spot in real time. They don’t become visible until the price action can rally far enough above the last reversal point that it finally shows itself. Whatever the consolation pattern ends up being it should still be looked at as a halfway pattern to the upside as shown by the green arrows.
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Friday, September 25, 2020
Gold and Silver Are Still Locked and Loaded… Don't be Out of Ammo / Commodities / Gold & Silver 2020
By: MoneyMetals
In military terms, the phrase "locked and loaded" refers to "locking" a magazine or cartridge into a firearm and loading a round into the gun's chamber. A variant is to "lock the safety" and then load a magazine into the weapon.
The analogy in his essay is that from a technical (chart) standpoint, the price of gold and silver are building energy to the point that they are getting closer and closer to breaking out of a consolidation pattern and beginning the next impulse in the bullish sequence of higher highs and higher lows.
The pullback this week does not negate the outlook for higher prices in the coming weeks and months.
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Friday, September 25, 2020
Throwing the golden baby out with the covid bath water - Gold Wins / Commodities / Gold & Silver 2020
By: Richard_Mills
The dollar is the most important unit of account for international trade, the main medium of exchange for settling international transactions, and the store of value for central banks. The Federal Reserve is the lender of last resort, as in the 2008–09 financial crisis, and is the most common currency for overseas borrowing by governments and businesses.
Investors want to own dollars when the proverbial poo hits the fan, or a wrench is thrown into the machinery of the global economy - pick your metaphor they all fit the coronavirus crisis.
On Monday the US dollar index, DXY, soared as investors flocked to safety amid a global stock market rout resulting from rising covid-19 cases, especially in the UK and Europe.
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Friday, September 25, 2020
A Look at the Perilous Psychology of Financial Market Bubbles / Stock-Markets / Liquidity Bubble
By: EWI
Investors acknowledge a market bubble but optimism prevents them from seeking financial safety
The months before the 2000 and 2007 stock market peaks saw a measurable rise in news stories that used the phrase "financial bubble."
But instead of selling, many investors kept right on buying.
The logic went something like this: "This bubble could burst one day -- but not just yet."
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Friday, September 25, 2020
Corona Strikes Back In Europe. Will It Boost Gold? / Commodities / Gold & Silver 2020
By: Arkadiusz_Sieron
The number of new daily infections in Europe is rapidly increasing, even reaching new heights in several countries. That is just another reminder that the second wave in fall or winter is upon us.Yes, I know. You are all fed up reading about the coronavirus. And yet, the coronavirus is not fed up with spreading around the globe. The number of new daily infections keeps going up, as the chart below shows.
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Friday, September 25, 2020
How to Boost the Value of Your Home / Housing-Market / Home Improvements
By: Submissions
Giving a new touch is often conducted by people who want to put their house on the market. Starting from renovating rooms or installing a new flooring, it can be a great option to maximize the value of any home. Let’s find out several ideas on how to boost the value of home that can effectively attract people.
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Thursday, September 24, 2020
Key Time For Stock Markets: Bears Step Up or V-Shaped Bounce / Stock-Markets / Stock Markets 2020
By: Ricky_Wen
Tuesday’s session played out as an inside/range day per expectations given Monday’s temporary bottom context. Essentially, price action formed an intraday double top after the RTH open and then bottomed out by 11AM in order to grind up towards 3300 on the Emini S&P 500 (ES) for the rest of the time. The overall range was 3309.5-3256.50 including overnight globex hours.
The main takeaway remains the same as short-term trend on the daily chart remains bearish and this is still treated as a deadcat bounce until further evidence. Today is an important day for bears to turn things around given the context and where price action is hovering just below some key resistance levels such as 3326/3350. Make or break sort of playbook as we’ll be stalking for a southbound train ride soon unless proven otherwise.
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Thursday, September 24, 2020
Five ways to recover the day after a good workout / Personal_Finance / Health and Fitness
By: Sumeet_Manhas
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Wednesday, September 23, 2020
Global Stock Markets Break Hard To The Downside – Watch Support Levels / Stock-Markets / Stock Markets 2020
By: Chris_Vermeulen
RESEARCH HIGHLIGHTS:
- New reports of widespread financial corruption likely triggered the current sell-off.
- Watch out for market support levels to see if this is a short-term correction or the start of a downtrend.
- Support for the DOW is just above 26,000.
- Support for the SP500 is around 3,100.
US and global markets were already under pressure over the past few weeks related to COVID-19 issues and global economic expectations. The technology sector had driven valuations to levels not seen since the DOT COM bubble near the end of August and many of the US Indexes has reached or breached all-time highs again. My research team and I warned followers to “stay cautious” throughout much of the price rally as our proprietary price modeling systems suggests the rally was isolated and not organic. The US Fed has spewed capital into the markets and speculative traders piled into the “excess phase” of the market to drive price levels higher. Take a moment to review these recent research posts to learn more:
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Wednesday, September 23, 2020
Beware of These Faulty “Inflation Protected” Investments / Stock-Markets / Investing 2020
By: MoneyMetals
The Federal Reserve last week reiterated its commitment to an unprecedented inflation-raising campaign.
Specifically, the Fed aims to push the inflation rate above 2% for an extended period.
The risk for investors is that central bankers succeed in their mission to depreciate the currency more rapidly – perhaps even more rapidly than intended or acknowledged in the official (understated) inflation data.
Inflation is a corrosive force that eats away at the real value of savings and investments.
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