Loading ...Is your GDX chart telling us that the large caps are on the precipice of a major, life altering, breakout?
If so, would make complete sense as to the pressure on NEM the last couple of days.
Note how we have backtested the major down trend line again seen on 1st monthly chart and stopped at @ 62 % of the last small up wave…. seen on 2nd chart…..make new Hi’s ie > 40.00 on GDX and the pm shares could be off and running.
Bob @ 8:31
Yes, all the photos of the Canadian I have seen are single track. There are passing sidings along the way, of course, but it is manageable for dispatch and careful scheduling of trains and ‘meets’. The single busiest mountain pass in the US is Tehachapi pass in southern California. It connects the central valley to the Mojave desert and mainlines to LA and the BNSF mainline to the midwest. The famous ‘Tehachapi Loop’ is on this line, for gaining elevation as it winds thru the mountain pass. It was built by Southern Pacific, now owned by Union Pacific, and BNSF also has trackage rights on the line. It is single track thru many of the tunnels that could not be expanded, with many long passing sidings where there is room. The line serves over 1,000 trains per month. You can watch live train action on the line here:
https://www.youtube.com/@TehachapiLiveTrainCam/streams
Ferrett
They are provoking everyone even the US citizens which particularly military consider a open border invasion a act of war. If they do retaliate I hope they target the guilty party’s. Most of the US citizens are not the guilty party’s and in fact can do them a favor if they want to steal the election to stay in power.
I bet they’re waiting on the outcome of this election as long as they can. They think here that wars can cancel elections as a back up plan totally disregarding the safety or lives of soldiers they see as their pawns. If Trump doesn’t win and he should when even the inner city minorities both poor and middle class are waking up and voting for Trump, I think they initially thought immigrants were a small minority of people leaving persecution or they even migrated themselves which is not assimilating either. They apparently had their blindfolds on and didn’t realize they’re coming in the thousands, and millions over taking cities and not here to assimilate. If Trump doesn’t come back and these corrupt weak links stay in power then all bets are off with Russia.
Maddog 16:40, it is quite depressing
how ‘they’ think that the American people won’t realise what’s happening. Any response by Russia to the US firing long range missiles from Ukrainian territory will be portrayed as provocation – whereas it would be the US doing the provoking, and Russia defending itself. Just as we were all told Russia was the provoker in 2022, rather than a country exercising its RTD and prevent the genocide of Russian speakers by Ukraine. You know, like the US did in Kosovo ……
My prayer is that all those who want war will be removed from the scene. Doesn’t matter how He does it, sickness, fleeing into exile, Covid jabs …. just get them all out of the way so that those who want to end the killing can get on with the job. In Ukraine, Palestine, Iraq, Syria etc.
Biden Says ‘Working Out’ Letting Ukraine Hit Russia With US Long-Range Missiles
Slowly but surely they ratchet up the pressure……..and with days till the election……it all looks horribly obvious……I pray not.
@Buygold @Maddog
Roger those, Buygold, I bought another 500 shares of AG after that.
Re Gold. This Gold consolidation, started on August 20 with Gold’s all time high at $2,570. Note this correction has not been trending down. I think soon gold will break $2600, and we’ll never see $2500 again after that.
Mr Copper
Tks for those thoughts……I cannot disagree.
Boot on the neck of NEM today
We’re kind of getting screwed in the shares given the tenacity of the SM comeback.
Mr. Copper – think you’re right about some of the inflation. Certainly gas is down, and I understand some of the ag commodities have come down. Not seeing it in eggs, they’re still going up, but I suppose that’s bird flu related. Would like to see it in beef as well.
Looks like you made a good buy on First Majestic the other day. They’re ripping higher.
Maddog
CPI, now it makes sense, thanks.
If Anybody Remembers, I Called the Gold Price Bottom on Sept Third
Also by the way, at the bottom, Gareth Soloway, changed is bearish view today, stating Gold is in a bullish consolidation
Re Gold, My Opinion? The Choppy Lateral Correction, That Started August 20, Has Ended Today
You can see a double bottom with support at $2,500.
https://finviz.com/futures_charts.ashx?t=METALS&p=d
Besides that, lots of things are a LOT cheaper, like heating oil and gasoline.
https://finviz.com/futures_charts.ashx?t=ENERGY&p=d
Here you can see a lot of things cheaper the past three months.
https://finviz.com/futures_performance.ashx?v=14
Down here you can see the indices having a bad day, that took Gold down in sympathy, that I think ended our correction and we should break above $2600 soon.
https://finviz.com/futures_charts.ashx?t=INDICES&p=d
P.S. If you think about it, the Fed’s first fear was deflation. Which would show mismanagement of the Fed Note system, which also will drive gold higher. Gold is money. And in a deflation, money or Gold, gains value.
By the way, I’m going against Garreth Soloway who thinks gold will drop. Scroll to the right to the 20 minute 30 seconds to hear his opinion.
RFKjr
Trump makes a point that I hope everyone hears: Russia has nuclear weapons. The Biden administration’s policy of maximum confrontation, seeking Russia’s humiliating defeat and regime change, is a recipe for nuclear immolation.
We are hanging well in a tough SM
Seems maybe more focused on the dollar. Today would have been ideal for them to waterfall us.
Would like to see a complete reversal in a down SM
goldielocks
What numbers ?????
The CPI…..though it makes no difference what the letters are, the result is invariably …strong Dollar, Strong SM and Weak PM’s !!!!
Buygold
Looks that way. Dow might have a gap below to fill but SP filled one. Not much enthusiasm in the market. The Techs were heading the market till they didn’t and now some are mixed with not a lot of enthusiasm either. I’m keeping a few hedges and out for now. Some buying the sale but the possibility of lower lows to risky just yet for me cuz I don’t want to start day trading. That Sbit short has a 100 po on it but that will depend on what Bitcoin is gonna do. PMs just hanging around for now. Slowly loading natural gas but that’s for months out. Silver and base metals depends on economy for now.
Reversal of fortune
Dollar soaring. CPI looks in-line with expectations, so I’m not sure what they were looking for, probably something soft. PM’s getting hit some, although silver still positive. SM hit too.
I don’t get the feeling that we’re going to get crushed though. SM coming back a bit. Maybe just a knee jerk reaction. The PPI comes out tomorrow. Seems like an endless line of phony reports that come out day after day.
I suspect that even the day the Fed cuts, they’ll take a run at us. Pretty much still the norm.
Never thought we’d have such a boring September before an election with the economy failing, invaders taking over the country, and a world in such a mess. Go figure. 🙂
Maddog
Now I’m gonna ask a question like Bob’s friend I think. What numbers?
Bob
“Canada has a west?”
LOL … and she probably votes too!