• 98 days Will The ECB Continue To Hike Rates?
  • 98 days Forbes: Aramco Remains Largest Company In The Middle East
  • 100 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 500 days Could Crypto Overtake Traditional Investment?
  • 504 days Americans Still Quitting Jobs At Record Pace
  • 506 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 509 days Is The Dollar Too Strong?
  • 510 days Big Tech Disappoints Investors on Earnings Calls
  • 511 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 512 days China Is Quietly Trying To Distance Itself From Russia
  • 513 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 517 days Crypto Investors Won Big In 2021
  • 517 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 518 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 520 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 520 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 524 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 524 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 525 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 527 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Gold, Silver, Mining Shares Bottom Evident

The chart below of GLD shows support on the long standing up trend line. GDX has sported a bullish “Morning Star” pattern. Normally, Mercury Retrograde ends an up movement, but in this case has ended a down movement. Expect some upside fireworks to begin tomorrow (Sept 1) and especially on the employment report Friday. The final “C” Wave of the sequence should commence.

GLD Daily Chart
Larger Image

GDX Daily Chart
Larger Image

The stock market gave us a minor buy signal in the low 2160's SPX today. It may end up being a one day wonder. Time will tell. The 10 week low is still ahead of us. A 115 TD top is due October 3rd. A big move down looks likely from October into November.

As always, we trade the market not the forecast.

 


I'm offering a special 2 for 1 subscription offer good until Labor Day September 6. See my website for details.

Brad Gudgeon, editor and author of the BluStar Market Timer, is a market veteran of over 30 years. The subscription website is www.blustarmarkettimer.info

 

Back to homepage

Leave a comment

Leave a comment