Gold, Crypto, & Stk Mkt: Key Tactics Now Stewart Thomson
Feb 23, 2021
I see green shoots for gold! Please click here now. Double-click to enlarge this daily gold chart.
There’s now a double bottom pattern in play.
A breakout above the neckline at $1966 would likely see gold surge to $2089… and higher.
The sentiment of gold investors with weak hands is at “gulag” levels, but nothing has changed fundamentally.
In America, the fear trade dominates gold. The government continues to pile up debt and inflation looks ready to rear its ugly head.
Please click here now. In India, the love trade dominates. There, the nation is winning the war against the Corona virus, and the economy is recovering fast.
The recent gold import duty cut and the strengthening economy has India’s “titans of ton” in a very positive frame of mind, and now gold demand is rising fast.
Please click here now. Double-click to enlarge this weekly gold chart.
There are some great green shoots appearing on the daily chart, but to turn this rally into something really big, my weekly chart 14,5,5 Stochastics oscillator and 5,15 moving averages need to flash crossover buy signals… and do it as gold bounces from the $1767 support zone.
That could happen by Friday of this week.
Please click here now. Double-click to enlarge this lively silver chart. Silver will likely be the leader of the next precious metals market rally.
A move above $31 for silver that occurs alongside buy signals on the weekly gold chart would be very positive.
For investors who find summers too hot and winters too cold, silver could be the ideal investment. It has less sizzle than bitcoin, but more than gold.
What about investors who like hot summers… and red hot investments? Well, please click here now. Double-click to enlarge. In the private money asset class, crypto is the hottest of the hot!
Whether it is real estate, the stock market, fixed income, metals, or crypto, people need to prepare ahead of time… for scenarios that seem unlikely.
Investors who rely on price prediction alone are playing with fire, and most of them get severely burned.
Is a bitcoin meltdown in play now? That’s unknown, but I want investors fully prepared to deploy fiat cash into the market at a bitcoin price of $38,000-$42,000.
For a look at the US stock market, please click here now. Double-click to enlarge this Nasdaq ETF chart.
The stock market has less volatility (arguably due to help from banks and government) than gold or crypto.
That makes the use of the 10,100 moving average series an effective tool. I’ve highlighted the buy and sell signals in black and green colour on the chart.
Note how close the market is to a sell signal. These signals don’t happen very often. When they do, investors should consider taking action.
I don’t think this is the end of the QE-oriented bull run that began in 2009, but a significant reaction is likely.
When the bull run ends, America is likely to become a stagflationary wasteland. What lies ahead is likely a repeat of the 1966-1980 period… on steroids.
Holding lots of gold, lots of silver, and lots of the miners that get those metals is an obvious course of action, and act of sanity, for all investors in this world.
Feb 23, 2021
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is a retired Merrill Lynch broker. Stewart writes the Graceland
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