NFTRH 298 updates the precious metals rally, which has gone through what we called Resistance #1 on GDX and as of today rests right at Resistance #2. There is a viableResistance #3 a little higher as well. Silver remains stretched vs. gold and the CoT data – not yet widely reported due to the holiday – made another disturbing move. We are still working a big bottom, and even established up trends in the quality items we follow. But there are short-term issues gathering.
There is also Option 1 and Option 2 on the stock market. Option 1 would be the healthy thing for the market to do and that is the way I am leaning. Option 2 would be exhilarating in the short-term and then… all done; macro pivot time.
Lot’s more including some NFTRH+ trade updates and the usual spectrum of global stock markets, commodities and currencies.
NFTRH 298 out now.
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