GOLD 0.51% $1,391.7 gold futures

Occasionally I need to remind myself that yesterdays dip was a...

  1. 1,636 Posts.
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    Occasionally I need to remind myself that yesterdays dip was a buying opportunity, not a selling one.
    Opinion basically the same as yesterday.
    I let the market tell me what is going on, not MSM columnists - or Skol.

    I did not sell any stock yesterday.

    My leading indicators had fallen in a heap yesterday (36% from 58% a week ago).

    A browse through the watchlists showed a potential significant reversal to the upside yesterday. And what a reversal.

    Short term indicators back to 52%.
    Seems to be happening again today.

    The perennial question – do stocks lead the gold price or vice versa?

    With 5 years of data I can tell you there is no evidence of one or the other.

    If anything you may be better off using a bellwether stock. And these miss highs and lows for POG by weeks.

    The indicator averages these moves.

    I consider the current price of gold excellent. Lovely consolidation, continued drift higher.

    The slightest wobble in the market and I expect stock prices to move higher hard and fast.

    Stock prices are still disconnected from the price of gold. The effect of risk-on.
    This is only my opinion.

    https://hotcopper.com.au/data/attachments/1929/1929430-d9da563c59d47b31f83b001f0e45b1aa.jpg

 
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