Gold – Technically bearish “outside day”

Posted by Peter Grandich -

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U.S. Stock Market – While tomorrow’s jobs (or lack there of) report is a potential market mover, I continue to believe barring a significant negative surprise, the market is going to continually grope towards the top of the trading range I’ve spoken about for months.


Gold and Silver – Both had a technically bearish “outside day” and if there’s significant follow through selling tomorrow, the market could end up perceiving some fair to moderate daily and weekly technical sell signals have been given. Again, I’m not looking for any significant top and will for the umpteen time note most of the surprises in this “mother” of all gold bull markets has been to the upside. I would welcome  a 3%-5% consolidation. It would give the perma-bears yet another time to clean the blood off themselves and put another line in the sand stating the run is over. No better indicator for almost a decade has been the “Tokyo Rose’s” of the bear camp. It’s only a question of when we will be asked to give another dollar to his fund.

RSI very overbought and close to giving a short-term sell signal. Again, $30-$50  down now makes $200-300 higher  next 12-24 months more likely.


U.S. Dollar Index – The 74 area continues to be a solid downside target and an area where  significant consolidation and minor counter-trend rally can form. But don’t forget it’s terminally ill and the increasing currency war talk is real and potentially very negative for general equities and bullish for gold.


Posted in All Posts Gold U.S. Economy US Dollar US Stocks on Peter’s Website..

On Major Moves, Grandich has been very right and not only saved many investors fortunes, but expanded them dramatically. On November 3, 2007 at the MoneyTalks Survival Conference, Peter Grandich of the Grandich Letter warned that “an unprecedented economic tsunami will hit American beginning in 2008”.   Peter advised publicly to short the US market two days from the top in October, 2007 and stayed short until the last week of October, 2008. He began to buy stocks in March 7th,  2009. He also bought oil and oil related investments near the lows after the dive from $147.
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