Is The U.S. Dollar Top The Bottom For Gold?

Summary

  • U.S./Russia relations deteriorate.
  • Is the U.S. petrodollar at risk?
  • Gold and Silver bottoms completed.

In my most recent interview I asked Sprott’s John Embry, how can the Fed’s current monetary policies regarding tapering help the U.S. economy and the dollar?

And he remarked:

“In the long run, it can’t. I mean, right now their greatest fear is that the dollar is going to break down particularly at the time of the Russian Crimean crisis, and if you looked at a chart of the dollar, the trade-weighted dollar, it looked hideous, and so consequently, I think a lot of this right now is focused on the dollar, and they’re trying to maintain the fiction that the U.S economy is staging a relatively robust recovery. I do not see that in the numbers. I think that the policy will change again as the economy becomes a problem.”

 

To read more click here…

 

 

Sprott’s John Embry: Gold And Silver Making A Bottom?

In a recent interview, John Embry, Chief Investment Analyst for Sprott Asset Management, discussed factors in the global economy that are bullish for gold.

Embry views Fed Chair Janet Yellen as “Ben Bernanke light.” When Yellen announced that with the sub-par job recovery, the Fed planned to keep interest rates low for some time, the stock market loved it and gold was knocked down. Even so, Embry sees the long-term prospects for gold as “Wildly bullish.”

US Economy vs US Dollar

Embry sees the Fed as facing “two conflicting issues; one is they are trying to support the US economy and at the same time trying to support the US dollar.” The two goals are “mutually exclusive. In the end I think that the dollar is the one that takes the hit.” In the end, Embry said, he does not think the Fed “can do it – keep interest rates low for years.”

The recent Crimean crisis provided evidence of the US dollar’s weakness. During the crisis the US dollar chart “looked hideous.” Embry said, “They’re trying to maintain the fiction that the US economy is staging a relatively robust recovery….I don’t see that in the numbers.” As Embry, I and others have argued before, the US economy is lagging even under a record $4 trillion stimulus package.

Embry said the Fed policy “has been directed primarily at trying to keep the banking system under control, interest rates low, and fund the massive federal deficits….The idea that it would have an effect on the economy was a dream.” He said the economy is “clogged up with excessive debt.” The Fed has been unable to get “money into the public’s hands because there aren’t enough credit worthy borrowers anymore….Those people who need money can’t get it, and those people who don’t need it, don’t want it.” The Feds policy has mainly led to bubbles forming in various markets.

Japan: A Warning?

Embry said more people “should study Japan.” He argued that the Japanese experience is what is coming to the West. Japan has massive debt, a huge bond market that pays next to nothing, and they are trying to create inflation. He asked, “Why would anyone in their right mind own a Japanese bond in that situation?” The Japanese policy is leading to almost no growth, a problem Embry sees enveloping the entire Western world.

Precious Metals

Embry argued that when Putin annexed the Crimea—a negative event for the West—gold was “pounded,” driving it down $100. Embry said, “I can’t see anything that would justify gold going down.” He argued that gold’s decline is the “flipside of trying to keep the dollar strong.” He predicted that the decline is “setting up an even better buying opportunity.” After warning that it is always best to “be circumspect about calling bottoms,” he said, “If we haven’t bottomed [in gold], we are absolutely very close.” Whatever the case, he said, “People shouldn’t be focused on what they could lose in the next two weeks, but on what they could gain in the next two years.”

China

“I’m a long term bull for China,” Embry said, “I think the 21st Century in retrospect will be seen as a Chinese Century, just as the 20th Century was seen as an American Century.” However, he warned, China is “in the throes of going through a very difficult period.” Worse, Embry warned, “I do not believe a lot of the economic numbers they [China] are coming out with; they are overstated.”

China expanded dramatically based on debt expansion and massive selling to the rest of the world. Now Western consumers are largely tapped out, which is starting to slow the Chinese economy, leading to defaults in the Chinese bond market.

Even if China goes “through reasonable economic difficulties,” Embry predicted that China will continue to acquire more physical gold. Given the demand from China, Asia, the Middle East, and India, Embry said, “I don’t know where it [all the gold] is going to come from.” The outlook for gold, he said, is “looking extremely positive.”

Embry said, “I think silver is materially cheaper than gold in the longer term sense.” He advised accumulating silver at around $20, which he called, “an absolute gift price.”

Mining Shares

Embry said that some mining stocks were “looking pretty perky up to two and half weeks ago,” but then they were hammered. One dropped 31%, which he said had no basis for such a drop.

Embry predicted that over the next two years, gold and silver bullion will move much higher. He argued that mining stocks are “remarkably cheap” and that the recent decline is “a renewed opportunity to buy them at remarkable prices.” However, he warned, “You have to be very selective” because some mining stocks are damaged. He advised investors to do their homework, select mining companies carefully and “you’ll be shocked at how much money you’ll make.”

True Fundamentals

In closing, Embry advised investors to “Step back, and look at the true fundamentals of the situation in the world economy and how cheap gold and silver are.” He fears that “a lot of people [are] tied up in paper and they could be badly hurt if this thing unfolds the ways I see it coming.”

The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed herein constitutes a solicitation of the purchase or sale of any futures or options contracts.

Metals Outlook: Has Silver Bottomed?

China’s debt levels out of control?

China is amassing debt at record levels and it signals the potential for another major financial crisis in the horizon. Since June of last year, more than 10 provinces and cities in China have loaded up on fresh stimulus plans that total up to 20 trillion Yuan ($3.3 trillion), according to a recent report by the Chinese newspaper First Financial Daily. China’s doubling its debt levels to $3.3 trillion at the end of 2012 is a very disturbing sign.

“China has the highest investment-to-gross domestic product ratio in the world — a downturn in its investment cycle would not only adversely affect its economy but also those of others, and global commodities prices,” Standard & Poor’s said in a February report.

Japan’s default is imminent.

To read more click HERE.

The VC Price Momentum Indicator – Weekly Futures Swing Trading Instructions – March 28, 2014

Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.

GOLD

WEEKLY MOVING AVERAGES

The April gold futures contract closed at 1294. The market closing below the 9 MA (1315) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bullish short-term trend to neutral.

VC CODE WEEKLY MOMENTUM INDICATOR

With the market closing below the The VC Weekly Price Momentum Indicator of 1305, it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral.

VC CODE WEEKLY PRICE INDICATOR

Cover short on corrections at the 1274 and 1255 levels and go long on a weekly reversal stop. If long, use the 1255 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1325 to 1.355 levels during the week.

 

 

SILVER

WEEKLY MOVING AVERAGES

The May Silver futures contract closed at 19.83. The market closing below the 9 day MA (20.71) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral.

VC CODE WEEKLY MOMENTUM INDICATOR

With the market closing below TheVC Weekly Price Momentum Indicator of 19.99, it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral.

VC CODE WEEKLY PRICE INDICATOR

Cover short on corrections at the 19.67 and 19.50 levels and go long on a weekly reversal stop. If long, use the 19.50 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 21.25 and 22.02 levels during the week.

EURO

WEEKLY MOVING AVERAGES

The Euro PA Index contract closed at 1.3750. The market closing above the 9 day MA (1.3423) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bearish short-term trend to neutral.

VC CODE WEEKLY MOMENTUM INDICATOR

With the market closing below The VC Weekly Price Momentum Indicator of 1.3785, it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral.

VC CODE WEEKLY PRICE INDICATOR

Cover short on corrections at the 1.3693 to 1.3638 levels and go long on a weekly reversal stop. If long, use the 1.3638 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1.3840 and 1.3932 levels during the week.

RUSSELL 2000

WEEKLY MOVING AVERAGES

The contract closed at 1.152. The market closing below the 9 day MA (1.178) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral.

VC CODE WEEKLY MOMENTUM PRICE INDICATOR

With the market closing below TheVC Weekly Price Momentum Indicator of 1.156 it confirms that the price momentum is bearish.  A close above the VC Weekly, it would negate the bearish signal to neutral.

VC CODE WEEKLY PRICE INDICATOR

Cover short on corrections at the 1.145 and 1.137 levels and go long on a weekly reversal stop. If long, use the 1.137 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1.164 and 1.175 levels during the week.

The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed herein constitutes a solicitation of the purchase or sale of any futures or options contracts.

TRADING DERIVATIVES, FINANCIAL INSTRUMENTS AND PRECIOUS METALS INVOLVES SIGNIFICANT RISK OF LOSS AND IS NOT SUITABLE FOR EVERYONE. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

The Global VC Price Indicator – ETF’s Swing Trading Instructions weekly – 3/28/2014

Signals are automatically generated by integrating electronic prices and weekly statistics with proprietary algorithms.

GLD

WEEKLY MOVING AVERAGES

The contract closed at 124.60. The market closing below the 9 day MA (126.65) is confirmation that the trend momentum is bullish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral.

WEEKLY VC CODE MOMENTUM INDICATOR

With the market closing below theVC Weekly Price Momentum Indicator of 125.19, it confirms that the price momentum is bearish.  A close above the VC Weekly, would negate the bearish signal to neutral.

WEEKLY VC CODE PRICE INDICATOR

Cover short on corrections at the 123.25 and 121.93 and reverse to go long on a weekly reversal stop. If long, use the 121.93 as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 126.51 to 128.45 levels during the week.

GDX

WEEKLY MOVING AVERAGES

The contract closed at 24.10. The market closing below the 9 day MA (25.52) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral.

WEEKLY VC CODE MOMENTUM INDICATOR

With the market closing below theVC Weekly Price Momentum Indicator of 24.19, it confirms that the price momentum is bearish.  A close above the VC Weekly, would negate the bearish signal to neutral.

WEEKLY VC CODE PRICE INDICATOR

Cover short on corrections at the 23.17 and 22.25 and reverse to go long on a weekly reversal stop. If long, use the 22.25 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 25.12 and 26.14 levels during the week.

SLV

WEEKLY MOVING AVERAGES

The contract closed at 19.06. The market closing below the 9 day MA (19.89) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral.

WEEKLY VC CODE MOMENTUM INDICATOR

With the market closing below theVC Weekly Price Momentum Indicator of 19.12, it confirms that the price momentum is bearish.  A close above the VC Weekly, would negate the bearish signal to neutral.

WEEKLY VC CODE PRICE INDICATOR

Cover short on corrections at the 19.81 and 18.56 and reverse to go long on a weekly reversal stop. If long, use the 18.56 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 19.36 and 19.67 levels during the week.

AGQ

WEEKLY MOVING AVERAGES

The contract closed at 64.25. The market closing below the 9 day MA (70.40) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral.

WEEKLY VC CODE MOMENTUM INDICATOR

With the market closing below theVC Weekly Price Momentum Indicator of 64.84, it confirms that the price momentum is bearish. A close above the VC Weekly Indicator, it would negate the bearish trend to neutral.

WEEKLY VC CODE PRICE INDICATOR

Cover short on corrections at the 66.19 and 68.12 and reverse to go long on a weekly reversal stop. If long, use the 68.12 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 66.19 and 68.12 levels during the week.

TRADING DERIVATIVES, FINANCIAL INSTRUMENTS AND PRECIOUS METALS INVOLVES SIGNIFICANT RISK OF LOSS AND IS NOT SUITABLE FOR EVERYONE. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

Silver Bottom Completed

It appears the silver markets have fulfilled the secondary corrective pattern objectives with the low of 19.58 established on Thursday March 27. The secondary cyclical bottom came in as expected during the 28/31 March time frame. Once this bottom unfolds, the next wave up in silver should takes us into the 26 to 27 region over the next 3 months. This pattern projects an intermediate uptrend into the late May early June time frame.

In this report I also said, “This cyclical low was anticipated and published in Seeking Alpha on December 22, 2013. According to the cyclical pattern confirmed at the end of last year, the market is in the process of building the secondary bottom for the next move up that should take it into the end of May to the July 15 time frame.”

In my last report regarding silver I said, “Cover short on corrections at the 19.73 to 19.18 levels and go long on a weekly reversal stop. If long, use the 19.18 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 21.25 and 22.02 levels during the week.”

The silver market made a low of 19.58 last week as it fulfilled and completed this second corrective wave pattern triggering the initial Buy signal at 19.73 mentioned above. With the market closing above this first level of support, it increases the probabilities greatly that the intermediate bottom is in place. Use last weeks low as a protective weekly stop. If stopped out re-enter the longs on a test of 19.18. This is a low probability count in my opinion but a historic buy if tested. The initial profit objective is the 20 levels. A close above 20 would trigger additional short covering and new buyers as we move into the 21.25 to 22.02 area and weekly swing resistance levels.

Displaying SI 05-14 (Daily) 18_12_2013 - 28_03_2014.jpg

The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.

Trading derivatives financial instruments and precious metals involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results.

A Speculative World About To Blow

Summary

  • The Fed is creating a world speculative bubble.
  • U.S. response to Crimea is stupid and dangerous.
  • World instability creating demand for gold.

In a recent interview, David Stockman, former director of the Office of Management and Budget, painted a grim picture of an unstable global economic system drowning in speculation due to the free-money policies of central banks around the world. Stockman said, “The greatest danger [to the world today] is the central banks.” He argued that all of the central banks are out of control. They have all expanded their balance sheets to a point that someday will be called “lunatic.” He criticized Federal Reserve Chairman Janet Yellen for pursuing a policy of “Yellen-nomics,” which continues the “folly of free money.” Instability extends to the political sphere in international relations. Stockman said, “I think there’s a lot of insanity loose in the world, and particularly on the Ukraine.” He soundly criticized the US and Western European governments for their response to the Russian seizure of the Crimea, calling their response “stupid and dangerous.” He stressed that the Crimea is not strategically important to the West and that the Crimea has long been a part of Russia, which annexed Crimea in 1783, before California even became a part of the United States. He believes the crisis is the result of the decisions taken in the 1990s to expand NATO eastward at a time when the Cold War was over and the alliance’s reason for being had disappeared. NATO should have been dissolved and the United States should have demobilized, Stockman argues. When the world environment is so unstable, there is demand for gold, which in part explains its recent rise. Another indication of the speculative nature of the unstable international monetary system is the recent crash in copper. The copper crash may be due to reduced demand and a slowing world economy or, Stockman argued, it may be because the bubble in China is so “immense.” Stockman argued that the bubble in China “is so out of control that they are using anything they can get their hands on to get loans and using the proceeds to speculate….The copper stockpiles are no longer simply a feed into an industrial production process, but they have become gambling chips in the global casino.” He characterized “China is one huge speculative bubble,” like a volcano, and it is only a matter of time before it blows. With the high of 1392.60 made on March 17, the market has fulfilled and completed the first leg of the 2014 bull market for the yellow metal. As profit taking developed at these levels it brought the market down to a low of 1328.10 in 3 days under fast market conditions. As I said in my last report, ”If long, use the 1360 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1391 and 1400 levels during the week.” This cyclical low was anticipated and published in Seeking Alpha on December 22, 2013. According to the cyclical pattern confirmed at the end of last year, the market is in the process of building the secondary bottom for the next move up that should take it into the end of May to the July 15 time frame. Where do we go from here? To answer that question technically let’s take a look at a few instruments that we can use to trade or invest in the derivative markets like ETF’s, and futures contracts in the precious metals markets. GOLD The April gold futures contract closed at 1335. The market closing above the 9 MA (1312) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral. With the market closing below the The VC Weekly Price Momentum Indicatorof 1350, it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral. Cover short on corrections at the 1306 and 1277 levels and go long on a weekly reversal stop. If long, use the 1277 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1378 to 1422 levels during the week. SILVER The May Silver futures contract closed at 20.29. The market closing below the 9 day MA (20.72) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral. With the market closing below The VC Weekly Price Momentum Indicator of 20.69, it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral. Cover short on corrections at the 19.73 to 19.18 levels and go long on a weekly reversal stop. If long, use the 19.18 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 21.25 and 22.02 levels during the week. GLD The contract closed at 128.47. The market closing above the 9 day MA (126.40) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral. With the market closing below the VC Weekly Price Momentum Indicator of 129.75, it confirms that the price momentum is bearish. A close above the VC Weekly, would negate the bearish signal to neutral. Cover short on corrections at the 126.29 to 124.12 and reverse to go long on a weekly reversal stop. If long, use the 124.12 as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 131.93 and 135.39 levels during the week. GDX The contract closed at 25.52. The market closing above the 9 day MA (25.47) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral. With the market closing below the VC Weekly Price Momentum Indicator of 26.10, it confirms that the price momentum is bearish. A close above the VC Weekly, would negate the bearish signal to neutral. Cover short on corrections at the 24.58 to 23.64 and reverse to go long on a weekly reversal stop. If long, use the 23.64 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 27.4 and 28.56 levels during the week. SLV The contract closed at 19.52. The market closing below the 9 day MA (19.90) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral. With the market closing below the VC Weekly Price Momentum Indicator of 19.87, it confirms that the price momentum is bearish. A close above the VC Weekly, would negate the bearish signal to neutral. Cover short on corrections at the 19.13 and 18.74 and reverse to go long on a weekly reversal stop. If long, use the 18.74 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 20.26 and 21 levels during the week. AGQ The contract closed at 67.52. The market closing below the 9 day MA (70.56) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral. With the market closing below the VC Weekly Price Momentum Indicator of 70.07, it confirms that the price momentum is bearish. A close above the VC Weekly Indicator, it would negate the bearish trend to neutral. Cover short on corrections at the 64.72 and 61.93 and reverse to go long on a weekly reversal stop. If long, use the 61.93 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 72.86 and 78.21 levels during the week. The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts. Trading derivatives financial instruments and precious metals involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results.

The VC Price Momentum Indicator – Weekly Futures Swing Trading Instructions March 21, 2014

 

Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.

GOLD

WEEKLY MOVING AVERAGES

The April gold futures contract closed at 1335. The market closing above the 9 MA (1312) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral.

VC CODE WEEKLY MOMENTUM INDICATOR

With the market closing below the The VC Weekly Price Momentum Indicator of 1350, it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral.

VC CODE WEEKLY PRICE INDICATOR

Cover short on corrections at the 1306 and 1277 levels and go long on a weekly reversal stop. If long, use the 1277 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1378 to 1422 levels during the week.

 

SILVER

WEEKLY MOVING AVERAGES

The May Silver futures contract closed at 20.29. The market closing below the 9 day MA (20.72) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral.

VC CODE WEEKLY MOMENTUM INDICATOR

With the market closing below The VC Weekly Price Momentum Indicator of 20.69, it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral.

VC CODE WEEKLY PRICE INDICATOR

Cover short on corrections at the 19.73 to 19.18 levels and go long on a weekly reversal stop. If long, use the 19.18 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 21.25 and 22.02 levels during the week.

EURO

WEEKLY MOVING AVERAGES

The Euro PA Index contract closed at 1.3793. The market closing above the 9 day MA (1.3734) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral.

VC CODE WEEKLY MOMENTUM INDICATOR

With the market closing below The VC Weekly Price Momentum Indicator of 1.3830, it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral.

VC CODE WEEKLY PRICE INDICATOR

Cover short on corrections at the 1.3712 and 1.3631 levels and go long on a weekly reversal stop. If long, use the 1.3631 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1.3911 and 1.4029 levels during the week.

RUSSELL 2000

WEEKLY MOVING AVERAGES

The contract closed at 1.194. The market closing above the 9 day MA (1.163) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral.

VC CODE WEEKLY MOMENTUM PRICE INDICATOR

With the market closing below The VC Weekly Price Momentum Indicator of 1.199 it confirms that the price momentum is bearish.  A close below the VC Weekly, it would negate the bearish signal to neutral.

VC CODE WEEKLY PRICE INDICATOR

Cover short on corrections at the 1.189 and 1.185 levels and go long on a weekly reversal stop. If long, use the 1.185 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1.203 and 1.213 levels during the week.

UCO

WEEKLY MOVING AVERAGES

The contract closed at 33.23. The market closing above the 9 day MA (33.18) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral.

WEEKLY VC CODE MOMENTUM INDICATOR

With the market closing above the VC Weekly Price Momentum Indicator of 32.86, it confirms that the price momentum is bearish.  A close above the VC Weekly, would negate the bearish signal to neutral.

WEEKLY VC CODE PRICE INDICATOR

Cover short on corrections at the 31.98 and 30.73 and reverse to go long on a weekly reversal stop. If long, use the 30.73 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 34.11 and 34.99 levels during the week.

The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed herein constitutes a solicitation of the purchase or sale of any futures or options contracts.

TRADING DERIVATIVES, FINANCIAL INSTRUMENTS AND PRECIOUS METALS INVOLVES SIGNIFICANT RISK OF LOSS AND IS NOT SUITABLE FOR EVERYONE. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

The Global VC Price Indicator – ETF’s Swing Trading Instructions weekly – 3/21/2014

Signals are automatically generated by integrating electronic prices and weekly statistics with proprietary algorithms.

GLD

WEEKLY MOVING AVERAGES

The contract closed at 128.47. The market closing above the 9 day MA (126.40) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral.

WEEKLY VC CODE MOMENTUM INDICATOR

With the market closing below the VC Weekly Price Momentum Indicator of 129.75, it confirms that the price momentum is bearish.  A close above the VC Weekly, would negate the bearish signal to neutral.

WEEKLY VC CODE PRICE INDICATOR

Cover short on corrections at the 126.29 to 124.12 and reverse to go long on a weekly reversal stop. If long, use the 126.12 as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 131.93 and 135.39 levels during the week.

GDX

WEEKLY MOVING AVERAGES

The contract closed at 25.52. The market closing above the 9 day MA (25.47) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral.

WEEKLY VC CODE MOMENTUM INDICATOR

With the market closing below the VC Weekly Price Momentum Indicator of 26.10, it confirms that the price momentum is bearish.  A close above the VC Weekly, would negate the bearish signal to neutral.

WEEKLY VC CODE PRICE INDICATOR

Cover short on corrections at the 24.58 to 23.64 and reverse to go long on a weekly reversal stop. If long, use the 23.64 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 27.4 and 28.56 levels during the week.

SLV

WEEKLY MOVING AVERAGES

The contract closed at 19.52. The market closing below the 9 day MA (19.90) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral.

WEEKLY VC CODE MOMENTUM INDICATOR

With the market closing below the VC Weekly Price Momentum Indicator of 19.87, it confirms that the price momentum is bearish.  A close above the VC Weekly, would negate the bearish signal to neutral.

WEEKLY VC CODE PRICE INDICATOR

Cover short on corrections at the 19.13 and 18.74 and reverse to go long on a weekly reversal stop. If long, use the 18.74 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 20.26 and 21 levels during the week.

AGQ

WEEKLY MOVING AVERAGES

The contract closed at 67.52. The market closing below the 9 day MA (70.56) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral.

WEEKLY VC CODE MOMENTUM INDICATOR

With the market closing below the VC Weekly Price Momentum Indicator of 70.07, it confirms that the price momentum is bearish. A close above the VC Weekly Indicator, it would negate the bearish trend to neutral.

WEEKLY VC CODE PRICE INDICATOR

Cover short on corrections at the 64.72 and 61.93 and reverse to go long on a weekly reversal stop. If long, use the 61.93 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 72.86 and 78.21 levels during the week.

SPXU

WEEKLY MOVING AVERAGES

The contract closed at 56.96. The market closing below the 9 day MA (60.83) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral.

WEEKLY VC CODE MOMENTUM INDICATOR

With the market closing above the VC Weekly Price Momentum Indicator of 56.83, it confirms that the price momentum is bullish.  A close below the VC Weekly, would negate the bearish signal to neutral.

WEEKLY VC CODE PRICE INDICATOR

Cover short on corrections at the 55.28 to 53.61 and reverse to go long on a weekly reversal stop. If long, use the 53.61 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 58.51 and 60.05 levels during the week.

UCO

WEEKLY MOVING AVERAGES

The contract closed at 33.23. The market closing above the 9 day MA (33.18) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral.

WEEKLY VC CODE MOMENTUM INDICATOR

With the market closing above the VC Weekly Price Momentum Indicator of 32.86, it confirms that the price momentum is bearish.  A close above the VC Weekly, would negate the bearish signal to neutral.

WEEKLY VC CODE PRICE INDICATOR

Cover short on corrections at the 31.98 and 30.73 and reverse to go long on a weekly reversal stop. If long, use the 30.73 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 34.11 and 34.99 levels during the week.

TRADING DERIVATIVES, FINANCIAL INSTRUMENTS AND PRECIOUS METALS INVOLVES SIGNIFICANT RISK OF LOSS AND IS NOT SUITABLE FOR EVERYONE. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

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