Jump to content



Photo

A historically-pivotal valuation level


  • Please log in to reply
4 replies to this topic

#1 steadyquest

steadyquest

    Member

  • Traders-Talk User
  • 772 posts

Posted 17 September 2021 - 12:30 PM

DOW-2021.png

 

 

DOW-2007.png

 

 

DOW-long.png

 

 

NYA-2021.png

 

 

NYA-2000.png

 

 

SPX-long.png

 

 

NDX-2000.png

 

 

 

 

 

 



#2 gannman

gannman

    Member

  • Traders-Talk User
  • 6,948 posts

Posted 17 September 2021 - 04:07 PM

gold is way undervalued no doubt it can get more undervalued


feeling mellow with the yellow metal


#3 Rogerdodger

Rogerdodger

    Member

  • TT Member*
  • 26,863 posts

Posted 17 September 2021 - 05:19 PM

I get tired of doing all the work around here! LOL!

 

Miners are even nastier as seen in NUGT.

nugt.jpg

 

Monthly $USD looks better than $GOLD

Started by Rogerdodger, 09 Sep 2021

 

I can't get too excited about Gold when I look at this monthly chart of the Dollar.

Positive RSI divergence, MACD crossing up, Monthly Golden Cross

Green color= USDollar, Gold color = $GOLD

US-Dollar.jpg

 

US-Dollar.jpg


Edited by Rogerdodger, 17 September 2021 - 05:50 PM.


#4 steadyquest

steadyquest

    Member

  • Traders-Talk User
  • 772 posts

Posted 17 September 2021 - 06:57 PM

My take on gold is that it does not itself possess the characteristic of price; rather it is the currency in which everything else is priced, e.g., a dollar today is "priced" at 0.0006 oz of gold.  When someone states that gold is undervalued, I interpret that as a statement that the dollar is overvalued.  But if the market says that a dollar is worth 0.0006 oz of gold, who am I to argue?  That price is determined by the sum of all market forces, as are the prices of everything under the sun.  Whether or not some of the market forces are nefarious is neither here nor there - they simply are what they are.

The point of my post was that I suspect the markets may be at valuations which have historically resolved into a strong move either to bubbleland or into the ground.  I don't know why, fundamentally, they should go higher from here - apart from via stock buy-backs - but since when do fundamentals matter?

 

WLSH.png
 



#5 Rogerdodger

Rogerdodger

    Member

  • TT Member*
  • 26,863 posts

Posted 17 September 2021 - 09:13 PM

Kitco

Yesterday’s meltdown of $41 in gold was a partial result of dollar strength however, that was responsible for only a small component of the decline. The primary cause of yesterday’s tumble was a direct result of the U.S. Census Bureau’s monthly sales and food services report for August 2021.

With the Federal Reserve set to begin their September FOMC meeting on Tuesday, September 21 the real question becomes how Federal Reserve members will interpret the recent data and their overall outlook of the economic recovery as it pertains to announcing when they will begin to taper their monthly asset purchases of $120 billion

.