Despite the potential for armed conflict in Ukraine and the specter of China’s shadow banking system teetering on the brink of collapse, there is hardly any volatility at all in the current market environment: Click to enlarge S&P 500 Weekly with Average True Range Underneath (ATR-14) VIX Weekly Here’s Scott Murray from www.volatilityanalytics.com: “There is… Continue Reading
Gold has broken above major resistance near $1360 this morning after a healthy 2-week consolidation between $1320 and $1355: Click to enlarge The strength of the current uptrend is even more impressive on the weekly timeframe and shows all the signs of a strong trend that is only gaining in momentum: Price is now equidistant… Continue Reading
While gold continues to form a bullish consolidation pattern just below resistance ($1355-$1360): Click to enlarge Another precious metal, albeit a less popular one, is shining brightly after breaking out from a 3-year symmetrical triangle last week: This breakout has all the makings of one that investors should not take lightly (volume, duration, and price… Continue Reading
Canadian Solar’s (CSIQ) earnings disappointment last Friday has set the stage for a potentially large shakeout in one of the best performing sectors of 2014. After a 40% gain for the solar sector during the first two months of the year, many of the leading solar names are set up for a sizable correction: Click… Continue Reading
NovaGold Resources (NG) has completed an impressive multi-month bottom with this morning’s breakout above $4: Click to enlarge The next substantial level of interest is major support/resistance from 2012 near $5.00. The accumulation of NG shares has accelerated in recent weeks as the price of gold has remained relatively stable between $1320 and $1350. Moreover,… Continue Reading
Growing disinflationary headwinds are likely to push the European Central Bank (ECB) toward launching a 300-500 billion euro asset purchase program on Thursday morning. Such a monumental shift in monetary policy posture from the ECB could deliver an outsized impact to global financial markets (although we have clearly seen some front running of this announcement… Continue Reading
This morning gold is up over $30/ounce on a combination of Russia/Ukraine fears and speculation that the ECB might announce an “inflation program” on Thursday morning: Click to enlarge Just overhead there lies a significant confluence zone between $1360-$1375, if price can get through this nest of resistance it could be a quick trip up… Continue Reading
With virtually a limitless amount of information floating around out there for investors to decipher, it is usually best to keep things as simple as possible. Removing price from the weekly chart and only leaving the 10-week simple moving average allows us a very clear picture of past trends and nascent trends which might be… Continue Reading
April gold futures reached as high as $1345.60 overnight for a more than $100 gain for the yellow metal during the month of February. There are plenty of signs that gold may soon need a rest, ranging from a sharp turn in sentiment to major resistance in the $1340-$1360 area: Click to enlarge A pullback… Continue Reading
CCJ Weekly (Cameco Corp.) One of our top picks for 2014, CCJ is ready to power higher from its 2+ year base. IVN.TO Daily (Ivanhoe Mines Ltd.) Definitely one of our favorite names in the Canadian resource space, over $2.10 IVN can easily rally another 20% in the near term FCU.V Weekly (Fission Uranium Corp.)… Continue Reading
After a very impressive rally in precious metals and mining shares during the past couple of weeks, there is some cause for near term concern as sentiment has suddenly turned bullish on the sector. The latest Commitment of Traders data from the CFTC clearly shows a massive amount of short covering and some renewed speculative… Continue Reading
Facebook sees an opportunity to integrate a company called Whatsapp into its array of offerings so it decided to pay as much as a whopping $19 billion for a company that loses money. An excerpt from the CNN Money article: “Zuckerberg said he doesn’t anticipate trying to aggressively grow WhatsApp’s revenue until the service reaches… Continue Reading
Barrick Gold (ABX) was one of our top picks for 2014 and the chart has done nothing but get better as the year has progressed – there is ample potential for a huge breakout over the coming weeks: Click to enlarge RBC upgraded Barrick to outperform this morning: “We believe Barrick has the ability to… Continue Reading
What a difference a new year makes! It wasn’t long ago that despondency and gloom permeated the junior resource sector. Now, just 7 weeks later there is optimism in the air and the animal spirits are beginning to awaken ever so slowly. Today the TSX Venture Composite closed above 1000 for the first time since… Continue Reading
A couple days ago we pointed out the huge upside potential in the silver chart, especially relative to gold. This morning Silver is breaking out with a nearly 4% gain: Click to enlarge Silver futures are testing the 38.2% Fibonacci retracement level of the entire August-December decline. Over $21.25 silver should quickly head up to… Continue Reading
