OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

Say Good-Bye to ‘Free Speech’… it’s gone. We live in a mil rule system now. Free speech is now treated as a terrorist attack on critical infrastructure. Tucker interviews Mike Benz in this mind-boggling expose’ of how our system just got inverted on itself… When Military Rule Supplants Democracy

https://www.zerohedge.com/geopolitical/when-military-rule-supplants-democracy

. . . Rep. Massie Warns About Fed Plan to Electronically Track All U.S. Cattle to Stymie Beef Production

Rep. Massie Warns About Fed Plan to Electronically Track All U.S. Cattle to Stymie Beef Production

https://www.reuters.com/markets/commodities/canadas-gabriel-resources-loses-damage-claim-against-romania-failed-gold-mine-2024-03-08/

This Is Textbook Topping Action: Will Dip Buyers Jump in Monday Morning?

Let’s see if there’s some follow-through to the downside early next week, which may be something of significance.

By James “Rev Shark” DePorre

March 8, 2024 at 4:30 PM EST

That news could have been a good excuse for a strong move, but market participants remained focused on the price momentum generated mostly by the semiconductor sector (SMH) and Nvidia (NVDA). The action was downright frothy on Thursday. It appeared to be a buying capitulation, with some folks deciding they would forego their reticence to chase these names that seem to go up every day.

That looked like a smart decision on Friday morning as the market had a positive reaction to the jobs news, but there was a very sharp intraday reversal that changed the market mood. Nvidia went from a new all-time high of about $974 to a low of $865 very quickly, and many technology names followed with nasty reversals.

The good news is that breadth was just slightly negative, and the mighty Apple (AAPL) finally bounced after a seven-day losing streak. There was a big supply of new 12-month highs also before the reversal hit at mid-morning.

Technically, this is textbook topping action—buying capitulation, followed by a blow-off top and a sharp reversal—but it needs some confirmation before it matters. It could just be another opportunity for dip buyers who love to jump in on Monday morning, but if we see some follow-through to the downside early next week, then it may be something of significance.

The good news is that this is no longer a market that is solely dependent on the Magnificent Seven. There is quite a bit of other activity of interest, and some of the best action is in secondary stocks.

https://realmoney.thestreet.com/investing/this-is-textbook-topping-action-will-dip-buyers-jump-in-monday-morning

https://www.youtube.com/watch?v=QOtCKeW_gtw

RUFUS RASTUS 1905 ORIGINAL VERSION

Is the gold breakout for real?  [SENTIMENT TRADER]

The confirming (or non-confirming, as the case may be) indicators detailed above do not inspire great confidence at the moment.

Key points Gold has broken out to a new all-time high (which is one of the most bullish things any security or market can do) At the same time, the Gold/SPX Ratio remains mired in a downtrend Likewise, gold is still technically in the unfavorable portion of the 8-year cycle While the bullish trend retains the benefit of the doubt as long as the price holds above the breakout point, the lack of confirmation may be a cause for concern if the breakout fails to hold A new all-time high One unwritten rule in trading is “never fade a new all-time high.” Like most investing “rules,” there are exceptions. But generally speaking, when a security initially breaks out to a new all-time high in price, it is better to go with the trend than to try to fight it.  After trying literally for years to do so, gold recently punched above resistance and traded at a new all-time high price.

What the research tells us… The oldest adage in trading is “The trend is your friend.” Currently, the trend for gold objectively has to be designated as “favorable.” And with gold at a new all-time high, it may be dangerous to fade the trend. But the other question is, “How confident should we be that the uptrend will continue?” The confirming (or non-confirming, as the case may be) indicators detailed above do not inspire great confidence at the moment. If history is a guide, the current rally for gold may run out of steam. However, that is not a prediction – just words of caution.  Fortunately, the proper course of action for traders looking to play gold is pretty straightforward. As long as the price of gold holds above the recently pierced resistance level, seasonal and cyclical factors should be ignored, and the bullish case should be given the benefit of the doubt. However, if the breakout fails and gold falls below the breakout level, a much more cautious (or even outright bearish) stance might be in order.