Doug, the dollar fell hard today. Is the bottom in for gold?
Answer; No. The dollar is still in an uptrend.
Doug, Is there fear in the markets overall?
Answer; Let’s take a look at the VIX which still shows signs of fear but not enough to worry about yet.
Doug, another indicator you have is the 10 Year Treasury. What does it tell us?
Answer; It tells us rates are falling. I think rates have even further to fall. It fits right in with my deflationary scenario perfectly.
Money velocity still non-existent.
Stock market moved higher today why? Because of speculation of an OPEC meeting? Didn’t it just do this about a week ago?
The data we have seen come out has been horrendous and the stock market moves up. What we saw was a technical bounce off of the 16,000 resistance level on the DOW coupled with a bounce in oil. Nothing more.
What we saw was gold move up with a dollar fall. Nothing more.
Nothing has changed with my prognosis and the data doesn’t lie.
We’ll see what tomorrow brings.
Related posts
About Doug EberhardtDoug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534
Disclosure:
Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with capital you can’t afford to lose. This is neither a solicitation nor an offer to Purchase/Sell futures or options. No representation is being made that any account will or is likely to achieve gains or losses similar to those discussed in this outlook. The past track record of any trading system or methodology is not necessarily indicative of future results.
All trades, patterns, charts, systems, etc. discussed in this outlook and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author.