Wealth Creation Through Natural Resources
The S&P 500 is testing an important level of support that has led to a rally each of the last 3 times that it’s been tested: With the S&P working on its 4th consecutive down day and below the … Continued
GDX passed an important test of support today. The goldies were looking absolutely dreadful this morning but buyers showed up near a crucial area of support around lunchtime and put the throttle to the floor into the close: $18.75 … Continued
BitGold (XAU:TSXV) has taken the TSX Venture by storm the last couple weeks before settling down this week. The stock has been a roller coaster since trading first began on May 13th. BitGold is building the world’s largest online … Continued
Weekly chart wrap for the week ending 6/5/2015 – we saw some seismic moves in interest rates as equities began to show some chinks in their armor. The current trends are as follows: Oil: Oscillating within a range Precious metals: … Continued
At the beginning of May we pointed out that energy stocks were set for a pullback. Now after dribbling lower for the last month it’s time to get back into energy equities: A large bullish outside reversal following this … Continued
Treasury yields are bumping up against major resistance this morning. The 10-year note yield, in particular, is threatening a breakout above multi-year resistance in the 2.30%-2.40% yield range: There are a few reasons why this recent surge in yields … Continued
As John Maynard Keynes famously stated “When the facts change, I change my mind. What do you do, Sir?”. I am very close to changing my mind on the direction of long-term interest rates. The chart of the 10-year US Treasury … Continued
For the last two months gold has been ping-ponging between support around $1180 and resistance near $1225: To be sure, the $1180 level has been tested many more times than the $1225 resistance level. Given the extremely low levels … Continued
It’s been a long time since i’ve seen such an abundance of yellow/red flag warning signs out there. At this moment I would be remiss if I did not point out all the warning signs i’m seeing: M&A activity during the … Continued
4 troubling charts: 1. Chicago PMI at levels which have historically almost always correlated with recessions 2. Producer prices offer a strong whiff of deflation… 3. U.S. 1st quarter GDP was absolutely dreadful regardless of all … Continued