It’s a new month, and I have a lot of cool monthly charts for you guys (including some unorthodox ones, e.g. kagi, three-line-break), but unfortunately not a lot of time for explanation today. Long story short, I had a crazy bitch over at my place last night who vomited and crapped all over my floor. Poor dog must’ve gotten into my “medicinal” stash. To boot (pardon the pun), her owner was no longer in the mood for romance after that. Ah, bitches, you can’t live with ‘em.
Anyway, I’ll do a data dump (ahem) for you guys, and post these charts for your perusal, perhaps we can discuss in the comments.
A quick point, though: I haven’t been presenting the 5% 20-day EMA envelopes for the longest time, as I’ve been trying to shift my focus away from daily action, but it really is an important chart to follow, providing excellent tradeable signals most of the time (pretty much excluding only the major, short-lived "3-sigma" type events).
Seems to me gold still has some room to climb, with the 20-day EMA of ~$1300 (or better, 40-day EMA at ~$1285) a good place for a stop. So I went long Friday, gambling on a move to $1375-1400.
And here's an amazing monthly 3-line-break chart (since the '80s) of 10-yr yields measured in oil. Almost as interesting as the regularity of the chart is how the upward trends coincide with major geopolitical/macroeconomic events, which kind of peter out ... and it's business as usual again (government borrowing becomes cheaper in black gold, and real sh#t in general). Note we're very close to a reversal this month! I'll be following this so you don't have to.