A Market Timing Report based on the 3-07-2014 Close published Sunday March 9, 2014
Gold is holding on but is under the thumb of rising interest rates (10 Year Treasury chart below). If the trend continues, the US dollar will turn up and that will pressure gold and other metals. Only in the case of real panic do gold and the US dollar tend to move in direct correlation. I would only add on the next breakout to the upside.
Here’s the GLD chart:
Ten Year Treasury Note Chart (TNX):
To keep up with my latest thoughts on gold and interest rates on my access page, you’ll need the password, which you can get here:
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I thank Worden Brothers for the chart system I use to post these charts. If you want to know more about the charting system I use every day, go to my “Other Resources” page here: Other Resources It makes it much easier to follow along with me if you can see the charts and manipulate them on your own computer, so it’s a great investment to have an excellent charting system.
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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