Jay Day & Gold: Green Shoots Galore? Stewart Thomson
March 16, 2021
With a key US central bank announcement coming on Wednesday (I call it “Jay Day”), more green shoots are in play for gold.
For a look at gold’s technical posture going into this key event, please click here now. Double-click to enlarge this daily gold chart. Note the “green shoot buy signal” in play on the 14,7,7 Stochastics oscillator.
A nice bounce from my $1671 buy zone has occurred, and Fed man Jay will likely determine whether the rally intensifies, or it fades and a double-bottom forms.
Please click here now. Double-click to enlarge this short-term gold chart. An exciting inverse H&S bottom pattern is in play.
It will be the Fed that gives a breakout above the $1740 neckline a green or amber light.
It’s possible that wild trading around tomorrow’s announcement produces a second right shoulder on the chart, adding symmetry to the pattern.
Please click here now. Double-click to enlarge this important US stock market chart.
If Fed man Jay engages in too much “hawk talk”, he’ll cause the stock market to crash, so it’s unlikely that he does that.
A crash is much more likely in the August-October time frame. That’s when the Fed could announce an end to printing money to buy short-term bonds. The result could be a stock market crash and a short-term swoon for gold.
That’s for later, not for now.
Is there any imminent news that could be more important for investors than tomorrow’s Fed meeting?
For the possible answer to that question, please click here now. Double-click to enlarge this exciting bitcoin chart.
A major exchange IPO is upcoming, and it could produce an earthshaking rally in some of the alt coins. With my blockchain newsletter, insider “King Crypto” and I help investors who are both newbies and experienced pros.
We highlight the cream of the alt coin crop, and the coming harvest looks to be… a mighty big one!
This IPO is so big that it stands to affect mainstream money managers as well as the crypto world.
Whether it’s gold, silver, crypto, and now platinum too, in the coming years private money looks set to outperform government fiat by a country mile.
The miners of private money, both crypto and metal, look like they are ready to outperform everything.
For a look at the gold miners via GDX, please click here now. Double-click to enlarge this GDX daily chart.
Yesterday’s technical action was impressive. The breakout above both the downtrend line and the $33 horizontal minor resistance zone is good news.
Next, please click here now. Double-click to enlarge what is likely the world’s most awesome chart for the miners.
While it’s unknown if the current GDX rally from the $30 support zone will become the greatest rally in the history of gold stocks, there’s a good chance that it does.
A breakout from the downtrend line is likely to be accompanied by a powerful crossover buy signal on the 14,5,5 Stochastics oscillator. Note the incredibly oversold position of that oscillator. It’s hinting that something very big and very positive is coming soon.
I’ve already bought the exciting gold $1671 support zone, and it appears that the strong hands of India and the COMEX commercial traders have been buyers there too.
For gold and the entire precious metals market, that’s a solid liquidity flows floor, but for investors who want even more, stay tuned because “Jay Day” could bring… green shoots galore!
Mar 16, 2021
email for questions: email@example.com
email to request the free reports: firstname.lastname@example.org
|Tuesday 6th Apr 2021
Special Offer for 321Gold readers: Send an email to email@example.com and I'll send you my free “GDXJ: It’s Time To Play!” report. I highlight five of the hottest component stocks, with money making points of action for investors!
Updates Subscription Service: Note we are privacy oriented. We accept cheques.
And credit cards thru PayPal only on our website. For your protection
we don't see your credit card information. Only PayPal
|Subscribe via major credit cards
- or make checks payable to: "Stewart Thomson" Mail
to: Stewart Thomson / 1276 Lakeview Drive / Oakville, Ontario
L6H 2M8 / Canada
is a retired Merrill Lynch broker. Stewart writes the Graceland
Updates daily between 4am-7am. They are sent out around 8am. The
newsletter is attractively priced and the format is a unique numbered
point form; giving clarity to each point and saving valuable
Thomson is no longer an investment advisor. The information provided
by Stewart and Graceland Updates is for general information purposes
only. Before taking any action on any investment, it is imperative
that you consult with multiple properly licensed, experienced
and qualifed investment advisors and get numerous opinions before
taking any action. Your minimum risk on any investment in the
world is 100% loss of all your money. You may be taking
or preparing to take leveraged positions in investments and not
know it, exposing yourself to unlimited risks. This is highly
concerning if you are an investor in any derivatives products.
There is an approx $700 trillion OTC Derivatives Iceberg with
a tiny portion written off officially. The bottom line: