David expects a lower-low soon, and then we should be off to higher-highs. Here’s more…
David looks back at the last rally for gold and discusses how the $300 move became overbought from a technical perspective. That rally has only corrected by a third, which is a good sign of a bull market. He expects that there will be a lower low soon, and then we should be off to higher highs.
Almost everything is overvalued today except earnings, which have been flat since 2014. The economy is undoubtedly sliding into an official recession. This time around, they are implementing QE with markets at all-time highs, and any sign of stress could overwhelm current Fed liquidity.
Time Stamp References:
0:40 – Why he is bullish on gold.
3:20 – His approach and favorite technicals.
7:00 – Fed, liquidity, and valuations.
10:20 – Favorite authors and books.
13:30 – How a collapse may unfold.
18:15 – Calm before the storm of 2020.