7 thoughts on “CHART OF THE DAY

  1. TenYear

    GDX has a gap up around $32 ish….this move from the bottom is very strong with good volume. Things could be aligned to take GDX higher to fill that gap in a week or two.

  2. Bob UK

    Gary,

    I know that you feel that gold might go down when the USD does but – and I am no expert by any means – I just can’t see that happening.

    Surely a weaker dollar will just see more people seeing it as a gold/silver/miners buying opportunity?

    I will watch with interest though.

    1. gary Post author

      At the moment gold is getting late in it’s daily cycle. This isn’t a great point to chase. It’s a better spot to take off leverage and maybe take partial profits.

      I’m guessing a move back down to $1250 at the next daily cycle low. That’s where I would load up again.

  3. Sam

    … It’s a better spot to take off leverage and maybe take partial profits. .. I’m guessing a move back down to $1250 at the next daily cycle low

    Gary, I scroll through all your posts on this site and I thought you are still bearish on Gold, expecting a at least a retest or break of the low at $1130?

    At what price did you recently get back in? At 100%? Thank you.

    Sam

    1. gary Post author

      Gold is clearly in the advancing phase of an intermediate cycle. Based on the normal duration for an 8 year cycle I’m skeptical we’ve seen the final bear market bottom yet as it’s still about two years too early for the 8 year cycle low. That being said if gold can make a higher intermediate high above 1347 then I will buy the crap out of it at the next intermediate cycle low due in March or April.

  4. Carl Vanhaes

    To humbly add on Gary’s comment: from November 2014, when you look at GLD or SLV chart and put it in view of DX or UUP chart, you can only ackowledge that they perfectly move in synch !! So I indeed wouldn’t be surprised to see DX and precious metals retracing in synch as well. And for Gold it would perhaps mean a new low…
    http://imagizer.imageshack.com/img912/1034/76mmEP.png

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