SD Outlook: The near-term sure does look bearish for gold & silver heading into the week, which is exactly the reason it’s called an “upside surprise”…
The dog-n-pony show that is the trade war will need to share the stage this week.
The Fed playing make-believe with the “markets”:
Monday and Tuesday are just the warm-ups.
In preparation for the Kashkari Soliloquy, followed by the Friday Finale:
Throw in a few economic
lies statistics for good measure, and we see?
Quite possibly a new all-time record high in the stock market.
So that everything is just hitting in hyper-efficient stride.
From the awesomeness of JOBS, JOBS, JOBS!
To the firm, “tough love” on trade negotiations.
To the World’s Police Man, saving the day.
That’s right, but know one little thing.
It’s called a “peak” for a reason.
We’ve gone over Peak Trump.
So with this “sucker’s rally”.
Of confidence in Trump.
A peak within a peak.
But ending soon.
Such ugliness in the “technicals” of gold & silver, isn’t there?
It can be seen in the gold-to-silver ratio:
If the ratio gets to 90, that would be a “back-up-the-truck” moment for those stackers positioning for the gold-to-silver ratio arbitrage, but I do think the ratio is rolling over, and I say that with the caveat that it sure does look like we’re overdue for one of those massive spiking-black candles of cartel blunt-force brutality.
The overnight “pressure” on gold & silver did not come with strength in the dollar:
So either the dollar is going to drop, the dollar is going to pop, or gold & silver are going to reverse (as in rise), but they sure have set silver up for the bottom to fall out, haven’t they?
Dang straight I’m sweatin’ bullets on my “silver has bottomed at $14.57” call:
If the mid-$14.50’s do not hold, then the bottom could very well fall out of the silver price, but, and this is important – I don’t think price will fall for long, and I don’t think price will fall all that much lower, so stackers looking to snipe the best possible price to buy real, physical silver need to already be in a neutral, concealed position, have their breathing under control, and be ready to pull the trigger when the target comes into sight.
If gold can close above $1288.40, we will have the beginnings of a change in direction:
That would paint the first higher-high on gold’s chart in the short-term, though I really do not think technicals matter right now – especially when the cartel has recently shown their piece-of-cake willingness to naked-short the snot out of some paper gold.
Palladium could be making a run to the resistance ($1400) of its sideways channel:
If that is the case, the technicals are very supportive for a break-out to the upside.
Platinum looks like it could be consolidating at $860:
Going back a year, there’s more support at $860 than anywhere else on platinum’s chart.
The bottom line for the metals this week is that the cartel has succeeded in painting the charts pretty darn bearish in the short-term, especially the gold & silver charts, so while the charts are showing a breakdown looks imminent, especially in silver, I’m just not so sure, I do think my call of the bottom at $14.57 holds, though in the morning hours we traded down to as low as $14.61, and I do think we’re more likely to rally hard then for the bottom to really fall out, so any weakness here should be bought, especially with silver so cheap and plentiful right now, and with a gold-to-silver ratio totally and artificially out-of-whack, so I’d say it’s a buyer’s market within a buyer’s market.
If $2.75 doesn’t hold, the next line of support is $2.70 for copper:
For the better part of a year, copper has spent most of its time between $2.60 and $2.80, but I have been slowly warming-up to the idea of a triple-bottom before a major move higher.
The newly formed golden cross suggests the price of crude oil is going higher:
I think the price of crude oil is going higher, not just because the technicals suggest it with the golden cross, but also because I think the US dollar is headed lower, however, more than anything, I simply think that is the Deep State Globalists’ plan.
The Dow is still in striking distance of all-time highs, but the Russell 2000 looks very, very tired:
The saving technical-grace for the Heartbeat of America Index is the bullish inverted head-n-shoulders pattern.
I’m not so sure last week’s spike in volatility was the worst of it
We could even see volatility rise in the short term if there is an absolute mad-dash scramble to send the stock market to new all-time highs just one more time, but with each passing day and with each passing pucker-moment, I’ve called it “now or never” & “do or die” time, and now we’ve pretty much run out of cliches.
Either way, I still contend the stock market is coming down, along with yield on the 10-Year Note:
We could even see a new 52-week low in the next few days if the stock market resumes its decline in a meaningful way.
The US dollar is at an interesting point on the chart:
The year-to-date trend has been up, but we are now several weeks into a continuous decline, so we’re right at the point where the US dollar would get a boost from the ESF and/or the Fed working as an agent of the ESF, but I really do think it comes down to the US dollar being held within an acceptable range until the attempt to walk down the dollar begins.
The question is do they really have this much control of these “markets”?
For now, it appears like they do, but it’s appeared that way all year.
And since we are very quickly approaching the 2019 mid-point.
They could really create the “tale of two halves” narrative.
No need to fool the sheeple because they’re oblivious.
And those who claim to be ‘awake’ in the alt-media?
They’re focused President Trump’s next move.
He’ll lock-up all of the Traitors in America.
And we’ve gotta wake up all the people.
So they can learn they’ve been lied to.
Because it will be hard for them.
So Trump’s making it easy.
In his Swamp Draining.
The only problem is.
The alt-media is.
Full of sheeple.
Who can’t see.
– Half Dollar
About the Author
U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.