Gold is looking good. The weekly levels are 1601 and 1629. The monthly levels are 1571.5 and 1645.50. The QTR A up is which is our target btw, is 1682. The gold monthly number line is +8 and the 5 day momentum number line is +9. We are also seeing good price action in Silver, Copper and Platinum (PPLT for you home gamers).
Here is a list of the strong and weak 5 day momentum number lines of importance. Basically anything +- 5. IYT +9 XLF +8 KBE +8 KRE +7 VNQ +5 Financials are very strong and most of them are breaking out. The transports are also breaking out. XLU -6 NG -5 Natty confirmed monthly A down. Utilities also confirmed a monthly A down.
ACD is versatile. I am getting ready to bust out the silver equipment for my little bullion biz that does well when silver is hot.
I hope everyone is watching the breakout of metals across the board. Not just gold and silver but also platinum and palladium. I bring you the ETF Glitter or ticker symbol GLTR. GLTR holds all 4 metals. The breakdown is this: Gold 53% Silver 34% Platinum 9% Palladium 5% As you can see, it broke through the monthly A up at 88. Last solid monthly A up was last January!
I haven't seen number lines this strong in Gold in a while. The monthly number line is 11 and the 5 day is 10! Last monthly A up in Gold was January!