Metals & Mines: The Charts Are Golden

Gold! Supreme money gold! It looks awesome and it even feels awesome to hold.  

It’s the money of kings, the money of most of Asian citizens, and (more and more) it’s becoming the righteous money of most hardcore gold bugs in the West.

What about the charts… are they awesome too? They certainly are, and to view one of the great ones... 

On this daily chart, the powerful bull wedge breakout just turned the $3200 zone into a significant floor of support.

It’s not easy for over-excited bears to push the price through numerous floors of support, and there are now a lot of these floors in play for gold.

Note the extremely rare third upturn in a row from the momentum zone (at about 50) for the key 14,7,7 Stochastics oscillator.

That’s a sign of an incredibly strong market.

In contrast, to view an extremely weak market:

This is an ominous Nasdaq ETF chart. A massive top pattern is in play and even if it doesn’t play out in textbook fashion, well…

This is the SP500 CAPE/Shiller ratio chart. The US stock market is almost as outrageously overvalued as gold is undervalued.

The tariffs are simply the icing on a late-stage American empire cake. For all practical intents and purposes, global business empire transition is essentially complete; it’s moved from the relatively small population of business owners in debt and fiat-oriented America… to the huge population of business owners in gold and savings-oriented China. In a nutshell:

The business owners in the East don’t have time to play cat and mouse tariff tax games with US “Gmen”, or with their own.  

They are moving on; they are finding new markets… and the movement will soon become a gigantic tidal wave.  

The great news for the gold bugs of the West is that these business owners and their workers will celebrate their success in finding and opening new markets... with big purchases of gold!

This is a mindboggling US fiat versus gold chart. The government’s poster boy dollar looks like a Dodo bird thrown off an empire transition cliff.  

Analysts who think the mangled Dodo bird is going to climb back up the cliff from the abyss may need to do some serious soul searching… and dare I suggest they do it today?

This is the GDX bull wedge breakout chart. The dip took GDX into my exciting $47-$46 buy zone for gamblers.

From there the breakout occurred and of course we took the trade at my GU Swinger trading service. There’s nice follow-through in this morning’s pre-market action and we are already looking very good. 

In the short-term, the stock, commodity, and bond markets are gyrating wildly while gold marches steadily higher. The GU swing trade newsletter offers great value at $289/3mths. Given the surge in the miners and the solid tactics we use with items like GDXU, NUGT, and SQQQ, I’m doing $249/4mths special offer this week. Click this link or send me an email if you want the offer, and I’ll get you onboard! Thank-you.

Silver stock bugs have been waiting for their day in the sun… and this chart suggests it may be here.

Note the divergence between silver bullion and the miners since March; silver has yet to take out the highs while the miners did it with ease… and now there’s a bull wedge in play for the miners too.

The GDXJ chart is also showing textbook bullish action.  

Note the “bounce of perfection” from $58.50 support, and there’s also now a very nice bull wedge breakout.

Individual miners? 

This is the “big is better” Newmont chart. Not only is Newmont a massive company, but it sports a massive inverse H&S pattern with a juicy $77 target price.

Both long-term investors and call option gamblers may want to take immediate action on Newmont and other key miners… and then sit back to enjoy what could be a very golden ride!

Thanks!

Cheers

St

Special Offer For Gold-Eagle Readers: Please send me an Email to [email protected] and I’ll send you my free “Get Jacked With J!” report. I highlight key GDXJ stocks that could surge after Fed man Jay’s speech this week! Both core and trading position tactics are included in the report.

Stewart Thomson

Galactic Updates

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Stewart Thomson is a retired Merrill Lynch broker. Stewart writes the Graceland Updates daily between 4am-7am. They are sent out around 8am-9am. The newsletter is attractively priced and the format is a unique numbered point form. Giving clarity of each point and saving valuable reading time.

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Stewart Thomson is no longer an investment advisor. The information provided by Stewart and Graceland Updates is for general information purposes only. Before taking any action on any investment, it is imperative that you consult with multiple properly licensed, experienced and qualified investment advisors and get numerous opinions before taking any action. Your minimum risk on any investment in the world is: 100% loss of all your money. You may be taking or preparing to take leveraged positions in investments and not know it, exposing yourself to unlimited risks. This is highly concerning if you are an investor in any derivatives products. There is an approx $700 trillion OTC Derivatives Iceberg with a tiny portion written off officially. The bottom line:

Are You Prepared?

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