"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 23 hours OPEC ‘Supergroup’ Keeps Oil Exports Subdued
  • 1 day One Belt, One Road, One Direction for Precious Metals
  • 1 day Vicious Trio Keeps Bitcoin in Chokehold
  • 1 day How Infrastructure Is Driving A Commodity Boom
  • 1 day What’s Really Happening With Venezuela’s “El Petro?”
  • 1 day Gold Bull and Bear Markets
  • 2 days 5 Big Drivers of Higher Inflation Rates Ahead
  • 2 days U.S. And China To Face Off Over Aramco IPO
  • 2 days Gold Bulls, Brace Yourselves – Fed Hikes Are Coming!
  • 2 days Stocks Fail to Hold Gains, But Still No Correction
  • 2 days Cryptojacking: A New Threat Vector To Critical Infrastructure
  • 3 days Why The Next Oil Boom Will Be Fueled By Blockchain
  • 3 days 5 Things Investors Should Know About China this New Year
  • 3 days Is The South Korean Crypto-Drama Finally Over?
  • 3 days Miners’ Rally? What Rally? Watch Out for More Fake Moves!
  • 3 days Four Percent 10-year Note Yield Will Be a Floor Not a Ceiling
  • 3 days The End Is Near
  • 4 days 5 Record Breaking Gemstones Even Billionaires Can’t Buy
  • 4 days Irredeemable Currency De-tooths Savers
  • 4 days CFTC Offers Bounty For Crypto Pump And Dump Whistleblowers
GLD May Not Yet Be Ready To Break Out

GLD May Not Yet Be Ready To Break Out

While I have gone on…

Decision Time

Decision Time

Last week, I mentioned that…

Not Out of the Woods Yet...

Last Friday, we posted this NYA Index chart showing how it was on the cusp of breaking down into a correction.

It has been touch and go during the week as the index tested its 7471 and 7478 support levels. Wednesday was a reprieve when the index bounced up from the supports and closed higher.

But, the market is not "out of trouble" yet. Take a look at the blue arrows and see what has been happening. The closing highs have been moving lower since November 5th, and that has to change or the market will fall below support levels and go into correction.

So, we are not out of the woods yet, and investors should keep an eye on these important NYA index support levels next week.

NYA Index

 

Back to homepage

Leave a comment

Leave a comment




Don't Miss A Single Story