Gold is likely to fall further before it rallies is Mark Hulbert’s headline. In support of his thesis he presents the latest Hulbert HGNSI:
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Malleable Metal
Gold has been oddly interesting lately. Take a look at the chart below, and note in particular two items: first, see the magenta-tinted area in which gold briefly breaks below support. I think that’s a pretty interesting “tell’ that this support isn’t that solid. Second, look at the green-tinted area where gold should have kept marching higher; it didn’t. To me, that’s also a “tell” that there isn’t real strength behind the metal.
No Cigar
The bears put on a brave show yesterday trying to break down through support but the afternoon rally wiped away the losses, and SPX closed well above support at the daily middle band and the 50 DMA. Now, with 16 of the last 18 Tuesday having closed green, the bulls have their shot at breaking out of the current range. SPX daily chart:
Silver Slides Sideways (and gently higher…..)
Absent Friends
My wife and I had some shocking news this morning when she was told that the husband of an old friend of hers was stabbed to death by a random nut in a pub last night. I didn’t know him that well but we’d spent some time with them and he was a very decent, hard working, family man who leaves a wife and two children behind. Just incredible, and a reminder that very bad things can happen to good people, and that people don’t always make it to three score years and ten even nowadays. After two close friends of mine died within three months of each other two years ago that is now three people in my circle all dead from various causes in their early to mid-40s. Very bad luck and extremely thought-provoking. (more…)
