Gold Starts To Shine Again

While the stock indexes move to record highs, beneath the facade of bullish market, cracks are appearing.

My proprietary trading system for gold miners just gave an preliminary buy signal today.  It has not yet been confirmed by another indicator.  We will keep a close eye on this system to see how it behaves over the next few days to the European Central Bank decision and the Federal Reserve meeting next week.

A second proprietary system based on the price of gold alone, has not yet given a signal.  While we see new highs made in the general market, we are also watching this system closely for its signal, which often coincides with a general market decline.

A further caution in a euphoric stock environment is the behavior of bonds.  Yields have been pulling back lately, causing us to wonder if the "Trump effect" on the market will soon wear off.