Gold stock sentiment indicator. Employment and wages data out...

Gold stock sentiment indicator.

Employment and wages data out today for Australia.

Obviously it is not going to be good but will it beat estimates?

Either way the AUD may be under pressure again.

I have fears for the broader market – could be on the next leg down.

Confirmation bias means I am seeing similar technical analysis starting to appear.

http://news.goldseek.com/CliveMaund/1588601700.php

I have a decent respect for Clive’s analysis. Usually on the mark.

If markets fall the issue will be - will it slide or collapse.

A slide may see gold stocks hold up but we already know what happens in a collapse.

I do not expect the same capitulation as occurred mid-March.

On another topic – how do you encourage innovation and support start-ups?

Not with tax relief and subsidies.

Like NSW, you do it with pre-orders. Such as is happening with ventilators to be supplied to the NSW government.

With a pre-order you can walk into a bank or go to the market and be appropriately financed.

This is why the US is able to support the start-up sector. Government pre-orders often come from defense but other sectors also indulge.

When will Australia’s brain-dead governments of all stripes wake up?

All we do is buy our stuff from every other country. This includes pre-orders for aircraft and submarines still in development and pay even though duds.

The government says it does not pick winners but it certainly backs losers.

The sentiment indicator ticked up nicely. Stocks now have a bit of room to absorb a future fall (maintain trends).

Watch for a higher high on the indicator. If it does not get there then we are still in the down cycle.

Leading indicators rose but are still at levels from a few days ago and below the sentiment indicator.

In a bit of a grey area ATM. Wish I could be more conclusive/confident.

A lot will depend on market moves over the next day or two.