June 2016
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The Gold & Commodities category is a sub-section of Market Analysis that includes charts and commentary associated with precious & industrial metals such as gold, silver, and copper as well as various hard & soft commodities such as oil, gas, wheat, corn, etc…

GLD & GDX Outlook (video)

An overview of gold via spot gold prices & GLD as well as the gold mining sector via GDX & NUGT.

Jun 29, 2016 4:46pm|Categories: Gold & Commodities|Tags: , , , |2 Comments

GDX Update

I've had a few request for an update on GDX (gold miners ETF). While I still don't yet have the confidence to add GDX and/or NUGT as an official short trade idea, I do still favor a pullback to any or all of the horizontal support lines on this daily chart. Even if gold (which [...]

Jun 27, 2016 10:59am|Categories: Gold & Commodities|Tags: , |3 Comments

GLD Testing Support + GDX Update

Not only are these two levels (120.28 & 119.16) decent price support, they are also the 50 &61.8% Fibonacci retracements of the most recent rally in GLD. Should 120.25 go, GLD will likely continue down to at least the 119.15 area/61.8% Fib (60-minute chart): GLD 60-minute June 23rd The bigger picture for gold [...]

Jun 23, 2016 2:01pm|Categories: Gold & Commodities|Tags: , , |4 Comments

USO Testing Key Resistance Level

The 11.84 level has been a key support/resistance level posted on my 60-minute charts since the first day of the month. Further validation of that level has come so far today as USO has struggled at that level all day so far.  USO just took out 11.84 with a 1-minute stick close above (as I [...]

Double Negative Divergence Confirmation Pending on GDX

This consecutive or 'double-negative divergence' will be confirmed should GDX move & close much below the 25 level today or tomorrow. GDX daily June 20th

Jun 20, 2016 9:57am|Categories: Gold & Commodities|Tags: , |2 Comments

On Watch for Consecutive Divergent Highs In GLD & GDX

This test of the 5/2 highs (or any relatively minor break above) in GLD (gold ETF) marks (or will mark) the 2nd consecutive divergence high, or double negative divergence in GLD unless prices breakout & continue much higher. I'll be watching the price action closely in the next few sessions to see if gold can [...]

Jun 15, 2016 3:01pm|Categories: Gold & Commodities|Tags: , , , |5 Comments

Equity Market Overview 6-13-16 (video)

This video takes a comprehensive look at the diversified U.S. stock indices as well as many key sectors of the U.S. market. These index & sector ETFs are discussed in the following order: SPY, QQQ, IWM, XLF, USO, XLE, XOP, XES, XLV, XBI, IBB, PBE, XRT, XLP, XLU & GDX.

Jun 13, 2016 7:30pm|Categories: Equity Market Analysis, Gold & Commodities|Tags: , , , , , , , , , , , , , , |8 Comments
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