...The 200-week average dipped and the market finally did break down. Is there a lot of downside since you're in a downtrend and you're under these averages? Not really.
Gold is a safe haven; it has no liability and cannot be destroyed. It is especially true if the geopolitical situation deepens and U.S. dysfunction gets worse.
‘Tis terrible such tragedy has brought focus to Gold. Yet within that conversation, we hope arises a wider awareness of just how inexpensive Gold remains vis-à-vis currency debasement.
Gold stocks’ precedent during past major gold uplegs implies the performance gap will unwind soon, with miners surging fast to catch up with their metal.
SPX is still in a clear downtrend channel from the July high at this point. So if the seasonal is going to be more than a quick trade, follow through here or more downside grinding are needed.
When you take a look at the gold, you are up one-fifth of a percent for the week. So this rally that came up there did its thing but now the market's sort of stalling...
