Gold stocks – so far so good…
Here is the chart from an email update to subscribers sent out pre-market this morning. The mail contained some written analysis, yes. But really the chart said a lot, especially with regard to important short term support.
Chart has now updated and obviously today’s candle down into the support zone did not exist this morning.
This is textbook activity. One can’t just sell because the market gets a little scary one day. One needs parameters, a working plan with technicals, fundamentals, time frames… all that shit.
It does not mean this won’t fail tomorrow, it just is what it is as we navigate another day in the markets during the ‘Drive to 5’ as NFTRH calls the current broad market up leg.
You gotta love it.
Edit (3:51) Apologies for the on-the-fly editing if you noticed it. It happens sometimes when the blogger has limited time and flies through a post too quickly.
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