My Own Market Narrative
"It will take a rally of monumental proportions to save the penis of John McAfee" - Zerohedge, 2017
Friday, December 5, 2014
Morning charts for gold and the miners
Well, GDX has sorta failed. It still looks like an upward channel at this moment, but that also makes it look like the start of a bear flag.
GDXJ has really failed, no doubt about it. Then again, GDXJ is full of companies that have no hope.
And yet, gold ex-USD is still where I want it to be.
And gold has lost the SMA(50), but is still above its Bollinger mean.
Dunno what's happening. Gold needs to lose another $10 or so for this to be a true fail. Can we get that today?
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