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This is some good sh*t from Stewart Thomson=Institutional money managers are only going to become more enthusiastic about gold, silver, and the miners

Posted by Richard640 @ 9:30 on July 31, 2019  
  1. Any pullback in the gold price now will be bought by their very strong hands.
  2. There’s a rectangular drift in play, and per Edwards & Magee (writers of the technical analysis “bible”), rectangles have roughly a 67% chance of consolidating the existing trend, which is up.
  3. Even if the price were to reverse on a disappointing Fed announcement, there’s great intermediate time frame support at $1360-$1275.
  4. Institutional money managers are only going to become more enthusiastic about gold, silver, and the miners as the business cycle matures and the Fed becomes more dovish. Any pullback in the gold price now will be bought by their very strong hands.
  5. What about the stock market? If there’s a crash in September or October, would gold stocks suffer?
  6. Well, the CDNX index (where the “ultra-junior” miners trade) fell with the Dow during last year’s crash season swoon, but gold and most senior miners blasted higher!
  7. Please click here now  . Double-click to enlarge this spectacular GDX versus US stock market ratio chart.
  8. From a performance perspective, gold stocks look poised to “destroy” the US stock market. 
  9. A massive inverse H&S bottom breakout is in play. 
  10. Please click here now  . Double-click to enlarge this gold versus Nasdaq ETF chart (QQQ).
  11. In 2011 the dollar began breaking out from a huge base pattern against the yen. Gold began to break down from a huge double top pattern against the Nasdaq. This told me a general risk-on theme was emerging and I suggested investors sell some gold and put the proceeds into the stock market. 
  12. Now, the opposite situation is beginning to take shape and investors should consider allocating some capital from the equity markets to gold, silver, and the miners now…
  13. And with bigger size when there’s a breakout over 9 on the weekly gold versus Nasdaq chart.

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.