Should the stock market slice through that support over the coming weeks or months, then we have an early warning sign that a major bear market has potentially begun.
Gold fell 4.6%, silver dropped 3.2% divergence with gold, and, platinum continues to be miserable off 3.4% on the week and down 7.6% on the year.
Higher high, lower low - the charts got a lot of damage.
Gold remains ever so cheap for the wise … the bottom line thus being: Got Gold? Don’t be a chicken! Get yourself some real nuggets and win!
I’m looking for gold stocks to start rallying about now.
Positions as of 12 November, 2024
The market is into the first major support. The market fell there and it's still hanging at the 100-day average.
Any way you want to cut it, $230 is a monster break in a market, alright. The trend is clearly down - lower highs, lower lows.
If the market extends we look for the possibility of getting into the $2564 level or the Bollinger Band.
Is the US stock market now in a blow-off stage, like in 1929? If so, how will the coming collapse affect gold, silver, and mining stocks?
