gannman it is entirely possible that C ended sunday night./monday morning. its a little early for me to definitively come to that conclusion. i do see the dollar/yen riskon/riskoff looks toppy and is an area of resistance.
much like the late 60s the pressure is mounting for a good dose of stagflation. oil prices leading the way. the oil embargo in 72/73 kicked it off and nixon then closed the gold window. the inflationary pressures are mounting. crb has firmed up. the backdrop looks good. those mountains of debt assure that the usa government will continue to have huge borrowing needs. the stage is set
seasonally we are at or very close to the low demand part of the year for gold =june/july. i suspect we could be looking at it right here. seems like a low risk trade. still not completely sold that 1277 isnt tested. BUT i do see the possibility that C has ended. the dsi @10 last week was a key. the sector is hated. and the arrows to 1k grew more numerous and loud
nibbling on quality mining stocks whose valuations are at or near historic levels
dharma
recapturing the round # and above 1309 would then settle the deliberation for me time is not a factor here, but price is
the fed meets in june . its settled the market believes powell will raise rates. they are raising rates , because of mounting inflation pressures and also they have room to lower when the next recession hits. this expansion is very long in the tooth
Edited by dharma, 22 May 2018 - 10:03 AM.
