Jordan Roy-Byrne CMT, MFTA

The federal budget deficit rose to $150.4 billion last month, the largest November gap on record. And the government’s deficits are set to climb higher if Congress passes a tax-cut plan that’s estimated to cost $855 billion over two years….

In past commentaries, I’ve written about my favorite form of technical analysis. That is intermarket analysis. Intermarket analysis takes traditional technical analysis much further. Normally, we’d look at a market by itself. We’d look at its price action, potential patterns and its momentum. Intermarket analysis takes this a step further by comparing the market at … Continue reading

In the past week I’ve seen more than a few mentions of the potential head and shoulders pattern in Gold. A head and shoulders pattern occurs when a market forms three peaks and the middle peak is noticeably higher than the left and right peaks. However, that is not enough for the pattern to play … Continue reading

Quoting the Market Watch piece: Fortunately for the gold market, the HGNSI is not at overheated levels right now. It currently stands at just 40.3%, which means that the average gold timer is allocating 60% of his gold portfolio to cash. That’s amazing, given that gold bullion is back to within shouting distance of its … Continue reading

The Commitment of Traders report (COT) comes out every Friday. The data is as of Tuesday so there is a lag. The COT data provides important data about the construct of the market. It tells important information such as who is holding long positions (commercials or speculators) and the total open interest. The commercials are … Continue reading

GDXJ is the ETF for junior miners and in particular junior gold companies. This sector has been very strong in 2010 and has solidly outperformed its counterpart, GDX as well as Gold. GDXJ made a key breakout in September and continued to soar into early November. The market soared above our target of $39 and … Continue reading

Dave Skarica, who has a new book out, joined us about a week ago to discuss Gold, Silver, the Juniors and Oil/Gas at the end. You can also find Dave at AddictedtoProfits.net.

Gold and Silver are likely in a corrective state after fantastic gains in the late summer and early fall. Where might we expect some support? Take a look at the chart below which shows Gold at the top and Silver at the bottom.   Gold has lateral support at $1325. Trendline support will hit $1300 … Continue reading

A great quote from William Osler typifies the evolution of our current monetary system. He said: “The philosophies of one age have become the absurdities of the next, and the foolishness of yesterday has become the wisdom of tomorrow.” Decades and centuries ago, no one would have done without a hard money standard. The founders … Continue reading

Silver has obviously had a very strong run. After breaking out past $19.50/oz, Silver has run all the way to nearly $27 with gains in eight of the past nine weeks. How much further can Silver run? We see some confluence of targets at $32. Note that back in 1980 there was barely any trading … Continue reading