Jun 10
30
Before we close for the holidays and return July 6th:
While the S & P 500 has broken below the H & S neckline, the DJIA hasn’t–but is close. It also has given a MACD sell signal.
Keeping in mind July and August are gold’s two most seasonally-weak time frames, I’m quite pleased to see gold build a base here. The fact that it’s quite above it’s 200-Day M.A. also makes me okay with some more sideways action. Risk is $1,185 and upside $1,300+ for the next couple of months.
- GATA gently slaps Tokyo Rose (most deservedly).
- Very good article
- UN says good bye to the U.S. Dollar
- Watching Rome burn
- Grandich comments on ADV in The Prospector
- After the close today, EVG announced drill results. While I’ve not had a chance to talk to the company, my first take is we now know we’re in the neighborhood of a big system. While it’s strictly smoke today, EVG should have come away from this news with a good sense of where to send the fire engines.
