John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (18572)

1/5/2017 3:21:24 AM

From: John Pitera

2 Recommendations Read Replies (1) of 33421

H1, i have been getting a bit more interested in the precious metals recently... but some of my currency work leads to bullish and bearish aspects.

The Miners are always the canary in the coal mine and moves occur first in the miners.

I will be watching them more closely over the coming 7 to 10 days........... one of my go to guys who I value is Gregg.

Gregg has been seeing really good action in the miners and the Chinese are aggressively supporting their currency just recently.. ....... see Gregg's comments as I am in agreement with.

Boing! Gold Gets Going! - Webinar Skim 2016-12-29
Greg Schnell | December 29, 2016 at 07:51 PM

The last three weeks I have been discussing Gold extensively. Today, some of the action has been remarkable in the gold miners. The most important part is the buy signal that we got that suggests a change in trend.

The gold miners accelerated today and stretched slightly above the steep downtrend line.

The junior gold miners also surged on high volume.

The $USD continues to struggle to move higher. The failed test of the high yesterday did a lot of technical damage. Today, the dollar closed at the lowest level in two weeks. The MACD crossed down after making a lower high.

The webinar started with a lot of helpful tips on how to get set up for 2017. Suggestions for how to annotate your trades, organize your chartlists, and label your chart names were all covered.

.RIght now over the next month of two I am not expecting a home run move higher in the precious metals.... it's a market that I am underweighted due to the conflicting signals my work gives me.

JJP

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