The GDX & GLD ETF’s are now sitting at a key technical area as they have both reached areas of strong prior technical support, and the classic pivot point of a 50% pullback of the prior move.
36.50 is a key pivot point for the GDX. And with this mornings negative open, that may be tested. [...]
Tags: Add new tag·GDX·GLD·GLD & GDX Charts·Gold Charts
Gold is still comfortably within it’s bullish uptrend, and technically you have to stay long “of gold” (as Dennis Gartman would say) until it breaks support.
Fundamentally, gold is trading as the last remaining sound currency in a world of un-sound central banking. And gold is up an astounding 22% to 42% against the major [...]
Tags: Bailout·G-20 Meeting·Gold·Gold Charts·Gold vs. Currencies·Gold vs. US Dollar·IMF·IMF Bailout·IMF Special Drawing Rights·Stimulus Package
The HUI Gold Bugs Stock Index now reflects the market shift from the debate over inflation versus deflation, to the debate of recession versus depression.
HUI Gold Bugs Index Chart
Yesterdays selloff was reflective of the worst of all worlds…
– an indication that the House will not pass the bailout/stimulus package.
– a complete exodus from commodities and [...]
Tags: Gold·Gold Charts·HUI·HUI Chart·HUI Gold Bugs Stock Index·HUI Index Chart