Gold sold off as equities rallied. I didn't watch it closely but got the sense from the headlines the move in equities was due to some positive noise about a trade deal with the EU. My thinking is that the reason Gold challenged the highs is because it's pricing in the possibility of Powell's sacking - which isn't going away. The egulfing candle at the ascending triangle resistance doesn't look good for longs (like me), though.
Hi andy, it's just a divergence and divergences are early indictors so I cover it. Not a disaster but the stock market is so vertical and necrotic at the same time there won't be much warning when the turn comes and it will.
Gold sold off as equities rallied. I didn't watch it closely but got the sense from the headlines the move in equities was due to some positive noise about a trade deal with the EU. My thinking is that the reason Gold challenged the highs is because it's pricing in the possibility of Powell's sacking - which isn't going away. The egulfing candle at the ascending triangle resistance doesn't look good for longs (like me), though.
I see the candle…
it's funny, you mention the Dow hasn't made a new high since July 3 like its a disaster. is it supposed to make one every day?
Hi andy, it's just a divergence and divergences are early indictors so I cover it. Not a disaster but the stock market is so vertical and necrotic at the same time there won't be much warning when the turn comes and it will.
is there ever a warning?
I think bitcoin is breaking down, i'm going based on sentiment primarily. The treasury ideas are getting absurd. https://www.linkedin.com/posts/antongolub_michael-saylor-put-actual-pyramid-in-his-activity-7353523068192940033-WYf9