Dollar, Stocks Continue Uptrend Since Election. Update on Gold Miners.

(Originally published on November 12, 2016 at goldtradingmastery.wordpress.com)

Since Trump was elected, the gold-price of the U.S. dollar has continued to climb.

dollar-11-12-16

The last time the dollar was in an uptrend, it ended up being a fake out. We’ll have to wait and see how long this one lasts.

Over the course of the next week or two, if the price bounces off the 10-day EMA and continues higher, we will wait for a pullback and then consider buying.

Now here’s what has happened to the S & P 500.

spx-gold-11-12-16

Just like the dollar, stocks are in a young uptrend. It remains to be seen whether this trend will mature and become trade-able. We will be keeping an eye on this.

It’s also interesting to see what’s happened to the gold-price of the U.S. long bond over the past six months.

usb-gold-1-year-11-12-16

It’s clearly undervalued relative to the 100 and 200 day EMAs, and it looks like it’s getting ready to head back up.

Here’s a closer look, with the 10 and 21 day EMA instead of the 100 and 200.

usb-gold-1-month-11-12-16

It’s still in a short-term downtrend. So now isn’t the best time to buy. But it may be looking to reverse soon.

Now here is the Van Eck Vectors Gold Miners ETF. I described a possible trade with this a couple of weeks ago, but it hasn’t turned out the way I planned.

gdx-gold-11-12-16

The stop-loss for this trade has now been triggered with a 3.25% loss.

See you next week.