- With a key US central bank announcement coming on Wednesday (I call it “Jay Day”), more green shoots are in play for gold.
- For a look at gold’s technical posture going into this key event: Click to enlarge this daily gold chart. Note the “green shoot buy signal” in play on the 14,7,7 Stochastics oscillator.
- A nice bounce from my $1671 buy zone has occurred, and Fed man Jay will likely determine whether the rally intensifies, or it fades and a double-bottom forms.
- Please click here now. Double-click to enlarge this short-term gold chart. An exciting inverse H&S bottom pattern is in play.
- It will be the Fed that gives a breakout above the $1740 neckline a green or amber light.
- It’s possible that wild trading around tomorrow’s announcement produces a second right shoulder on the chart, adding symmetry to the pattern.
- Please click here now. Double-click to enlarge this important US stock market chart.
- If Fed man Jay engages in too much “hawk talk”, he’ll cause the stock market to crash, so it’s unlikely that he does that.
- A crash is much more likely in the August-October time frame. That’s when the Fed could announce an end to printing money to buy short-term bonds. The result could be a stock market crash and a short-term swoon for gold.
- That’s for later, not for now.
- Is there any imminent news that could be more important for investors than tomorrow’s Fed meeting?
- For the possible answer to that question, please click here now. Double-click to enlarge this exciting bitcoin chart.
- A major exchange IPO is upcoming, and it could produce an earthshaking rally in some of the alt coins. With my blockchain newsletter, insider “King Crypto” and I help investors who are both newbies and experienced pros.
- We highlight the cream of the alt coin crop, and the coming harvest looks to be… a mighty big one!
- This IPO is so big that it stands to affect mainstream money managers as well as the crypto world.
- Whether it’s gold, silver, crypto, and now platinum too, in the coming years private money looks set to outperform government fiat by a country mile.
- The miners of private money, both crypto and metal, look like they are ready to outperform everything.
- For a look at the gold miners via GDX, please click here now. Double-click to enlarge this GDX daily chart.
- Yesterday’s technical action was impressive. The breakout above both the downtrend line and the $33 horizontal minor resistance zone is good news.
- Next, please click here now. Double-click to enlarge what is likely the world’s most awesome chart for the miners.
- While it’s unknown if the current GDX rally from the $30 support zone will become the greatest rally in the history of gold stocks, there’s a good chance that it does.
- A breakout from the downtrend line is likely to be accompanied by a powerful crossover buy signal on the 14,5,5 Stochastics oscillator. Note the incredibly oversold position of that oscillator. It’s hinting that something very big and very positive is coming soon.
- I’ve already bought the exciting gold $1671 support zone, and it appears that the strong hands of India and the COMEX commercial traders have been buyers there too.
- For gold and the entire precious metals market, that’s a solid liquidity flows floor, but for investors who want even more, stay tuned because “Jay Day” could bring… green shoots galore!