Via Energy and Gold.com 4 troubling charts:   1. Chicago PMI at levels which have historically almost always correlated with recessions     2. Producer prices offer a strong whiff of deflation…   3. U.S. 1st quarter GDP was absolutely dreadful regardless of all the excuses we may want to make     4. U.S.… Continue Reading

Via Energy and Gold.com: The TSX-Venture has spent the last 6 months putting in a bottoming pattern (ascending triangle) and running into resistance just above the 700 level. However, a breakout could be close at hand…   The series of higher lows remains intact and the pullbacks have become shallower. The current pullback is testing… Continue Reading

Via Energy and Gold.com: One of the things I noticed early on in investing in junior mining equities is that they follow technical patterns fairly well. In other words, the charts are much cleaner indications of investor supply & demand with much less influence from HFT (high-frequency trading) and hedge funds than one sees in… Continue Reading

Via Energy and Gold.com: If I didn’t know better I could have never guessed that crude oil is down nearly 50% in less than a year. The Houston real estate market is white hot with residential listings regularly going for above asking price and sellers are finding eager buyers in a matter of days. Houston… Continue Reading

Via Energy and Gold.com: The EUR/USD currency pair is fast approaching a key technical crossroads :   The ~1.15 level represents support/resistance from January/February and also roughly equates to a 50% retracement of the entire December-March decline from 1.2556 to 1.0462. One can also easily discern a fairly clean bottoming pattern similar to a complex… Continue Reading

Via Energy and Gold.com: US based gold producer Newmont Mining (NEM) has been a serial underperformer in recent years with shares falling more than 70% from its late-2011 all-time high to the December 2014 low. However, things may be on the verge of turning around for Newmont investors. The stock has carved out a very clear… Continue Reading

Via Energy and Gold.com: The Dow Jones Transports have been putting in a top for the last six months, ever since the parabolic rally of October/November 2014:   This is at least the 6th test of the 8500-8600 support/resistance zone since last December and the bounces off this support zone have become increasingly shallow and… Continue Reading

Via Energy and Gold.com: We have been all over Continental Gold (CNL.TO) during 2015 and our persistence has rewarded readers who paid attention. Despite a relatively lackluster junior gold sector shares of CNL have performed superbly with a 35%+ gain year-to-date:   CNL carved out a head & shoulders bottom pattern between February and April of… Continue Reading

Via Energy and Gold.com: A couple of noteworthy charts from the RBC technical analysis team: (click to enlarge) Dow theory non-confirmation: Despite the S&P 500 essentially sitting at all-time highs and the TSX Composite resting just below all-time highs  we are seeing a lot of sector weakness and a distinct lack of participation from the… Continue Reading

Via Energy and Gold.com: Last week was a messy one for the gold miners. It began with yet another failure to break-out above resistance followed by what was shaping up to be a steep decline before buyers stepped in and price closed down a modest 1.48% for the week. While the price action remains messy,… Continue Reading

Via Energy and Gold.com: This is an interesting graphic courtesy of RBC illustrating a large drop-off in managed money (CTAs, commodity pool operators, etc.) positioning in commodity futures: After reaching extremely high net long exposure earlier last year before the crude oil crash, managed money positioning has fallen off a cliff and moved down to a… Continue Reading

Via Energy and Gold.com: It might be hard to believe but WTI crude has rallied nearly 50% since March 17th. While crude’s recent rally has certainly taken the crowd by surprise (as illustrated by tremendous short covering in the exchange traded fund USO) there’s ample reason to believe that crude oil’s upside move may have… Continue Reading

Via Energy and Gold.com: Famed bond fund manager Jeffrey Gundlach gave a presentation at the New York Yacht Club today in which he reiterated a $1,400 target for gold by year end. From what I gather Gundlach has two primary tenets to his bullish gold thesis: Negative interest rates in Europe will make gold very… Continue Reading

Via Energy and Gold.com: Yesterday the new “Bond King”, Jeffrey Gundlach, spoke at the Ira Sohn Investment Conference and emphatically stated that interest rates have bottomed. This morning we are seeing more downside in Treasurys and the yield on the 10-year note is rising to test its falling 200-day moving average (most important indicator of… Continue Reading

Via Energy and Gold.com: I resided in the City of Baltimore for one thousand five hundred seventy-seven days. I actually pulled up to my husband’s medical school graduation in a U-Haul truck. I had enthusiastically packed. During my 4-year stint there, the city’s population dropped from 701,000 to 645,000. The mass exodus was marked by… Continue Reading