Market Timing Brief for the Gold ETF (GLD) and 10 Year Treasury Yield (TNX) Closes On 2-28-2014: Gold Stuck But Holding. Rates Down.

A Market Timing Report based on the 2-28-2014 Close published Sunday March 2, 2014

Gold is holding up after a strong rally, so my sense is that this can continue.  Gold often does well when there is an international crisis as well, and the Ukraine qualifies.  A further rally is supported as well by the continued fall of rates, as we headed through the aqua line shown on Friday, although the yield on the 10 Year Treasury has reached a bit of support at the 200 day moving average.

If we now head to the lower yellow support line, gold will be moving higher in my opinion.   That will be despite the common belief that the Fed will continue to lower QE and as it does so, rates must rise, not fall.  Those are the crosscurrents, yet the charts don’t lie.

Here’s the GLD chart:


Gold Holding up from Last Rally

Ten Year Treasury Note Chart (TNX):


Rates cutting down through a support level this week.

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Look for updates on the main chart tracking pages this week as I feel they are needed and comments via Twitter.

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