If you look at your support in the market on an 18-week moving average, it's back at $1993. So to negate the bearishness of the market, you've got to get back over $2041.90.
Gold and energy stocks fell this past week. Gold has a history of making important yearly lows in the December, January, and February period. Could it happen again?
“In a bear market many stocks will sell at 5 to 7 times earnings, while in bull markets the average level would be about 15 to 18 times earnings.” The “live” price/earnings ratio right now for the Casino 500 is 49.7x.
Bubble-valued stock markets are overdue for a major selloff. Gold’s streak of new records will drive bullish financial-media coverage, generating mounting investor excitement.
When we take a look at the gold, you’re in a corrective mode. You’re down 1.28% for the week and you’re still over the 18-week average support of $1987.50.
Gold closed December, making weekly, monthly, and quarterly all-time closing highs, but its upside momentum failed to materialize. Gold to $3,000/oz and $4,000/oz will not materialize until...
When you look at the gold, I hope that the market gives you a break back to the 18-week average of closes at $1986.70. It would be the ideal situation that if you can hold there, then you start anew.
