I did a comprehensive interview yesterday for Ike Iossif of
You can listen to it by going here:
By comparing the action of the sectors to the stock market we see where the strength and weakness is. Have you noticed though that Bitcoin has failed to rally with the stock market? It’s telling us that it is simply dying out and is never going to replace the US dollar or gold.
Now Ike and I didn’t talk about the US dollar so I want to show you this chart of the US dollar index that is getting more interesting and suggests that we are heading for a BIG new move in the US dollar to start in the coming months.
The US dollar index put on a tremendous rally last year starting in
This tells us that this sideways action WILL come to an end and another big move will begin in the coming months.
Perhaps it will happen after some sort of Trump/Xi trade deal or a coming FOMC meeting.
A dollar rollover of course would spark a big gold price run through its recent resistance level.
It means gold stocks would explode and they are simply consolidating now in preparation for this coming move. I’m showing you this chart so that you won’t miss what is happening.
Ike and I talked about other things and even though not much really is happening this week I think big things are coming next month in various markets. To listen to our discussion go here:
-Mike
