Category Archives: Gold

Gold Breaking Down

Posted on November 20, 2013 by macromon

Gold is down about $16 today and is below some key support.   The set-up is bearish and a little follow through here could lead to another 5-10 percent of downside. Gold should have rocked on QE3 and hasn’t.   In fact, … Continue reading →

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Gold’s Bearish Technical Setup

Posted on November 12, 2013 by macromon

We noted last month gold’s head and shoulders formation, which, at 125o-ish was met with a massive short covering schnapper.  Last week’s strong GDP and employment data seems to have changed the sentiment and moving up tapering and higher rates. … Continue reading →

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Still Watching Gold

Posted on October 5, 2013 by macromon

The gold ETF (GLD) did penetrate the neckline of its head and shoulders formation but bounced back the next day.  Another close below the 125.15 neckline (1291.70 cash gold) with some follow through does set up a measured move  down … Continue reading →

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Gold’s H&S Formation

Posted on September 28, 2013 by macromon

Check out the gold’s head and shoulder formation.   A break of the neckline at GLD, 125.15 and cash glold at 1291.70  sets up a measured move down to $112.75 and $1,1170, respectively.   Keep it on your radar. (click … Continue reading →

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The 2013 Global Interest Rate Spike

Posted on September 16, 2013 by macromon

Nice chart illustrating the year-to-date increase in global interest rates (10-year local currency government bond yields) .  Not surprising the emerging markets lead the global rate spike.  Also note, Italy, Spain and Greece are more credit instruments rather than sovereign … Continue reading →

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Correction Time? Now or Never…

Posted on February 20, 2013 by macromon

The S&P500 had its worst daily decline for the year.  The VIX spiked over 19 percent, its biggest 1-day increase in 2013.  The dollar index closed at its highest level since November 16th,  which was the day the S&P500 bottomed … Continue reading →

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Gold: The Valentines Day Heartbreaker

Posted on February 14, 2013 by macromon

If you are thinking about giving the sweetheart some gold for Valentines Day,  you may want to wait a few days.  This is one ugly chart and shows gold — in the form the GLD ETF — hanging by a … Continue reading →

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Gold’s 50-day Moving Average

Posted on January 19, 2013 by macromon

If technical levels matter, they matter in gold.  Check out how it was rejected both Thursday and Friday right at the 50-day moving average. Looks like gold is about to break either way.  We’ll wait for confirmation.  Could the Bank … Continue reading →

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Technical Chart Patterns and Perspective

Posted on January 8, 2013 by macromon

Yesterday we posted a technical piece on gold, which one of our friends down under picked up.   They made us think about how technical analysis is more art than science (just like economics, by the way) and how bull/bear conclusions … Continue reading →

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The Golden Flag

Posted on January 7, 2013 by macromon

Gold has begun the year thrashing around in its flag chart pattern and off about 1/2 percent YTD.   Along with Apple,  it has been our printing press over the past five years.   Both currently trade like dog dirt. Yesterday’s low … Continue reading →

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