Using past history of how price responds, it is likely that gold, and silver, could move sideways for another year or two. While this flies in the face of so many current, supposedly “expert”, opinions [mine is not based on opinion but, rather, is strictly based on the facts as conveyed by the charts. Take a look and you will see that too!]
So says Michael Noonan (edgetraderplus.com) in edited excerpts from his original article entitled Gold And Silver – Market Says 1 -2 Years Sideways, Not Up.
[The following article is presented by Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com and www.munKNEE.com and the FREE Market Intelligence Report newsletter (sample here – register here) and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. This paragraph must be included in any article re-posting to avoid copyright infringement.]
Noonan goes on to say in further edited, and perhaps in some places paraphrased, excerpts:
Such a statement as the above is NOT my opinion. Opinions do not move markets, only executed trades matter. The only opinion that matters is what the market is saying about those who are actually participating, and that shows up as fact when viewed on the charts. Opinion, sentiment, belief, expectation, none [of those] lead the market but are more reflective of one’s mindset, and in the end, it is the market that always has the last word. From our perspective, it is better to follow the market’s lead. If you have a consistent game plan, profitable results will follow. (A shorter version of the aforementioned is, simply, do not fight the tape!
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Gold – Quarterly Chart
Stand-out wide range bars tend to capture market behavior for the next several time periods, so for a Quarterly, it can be a few years [as the chart below illustrates]:
In the 2011 wide range bar noted above, gold traded sideways for 6 more quarters, before being “driven” lower. The 2nd Q bar, second from the end, is almost equal in size to the range that formed the high. Using past history of how price responds, it is likely that gold, and silver, will move sideways for another year or two.
As noted on the chart, only some highly unexpected news event could “shock” price out of normal pattern behavior, which is what it would take to get the price of gold and silver to move higher, in line with “expectations” of the PMs community. A collapse of the fiat Federal Reserve Note would be such a catalyst example. There is history for that kind of event, taken from the Federal Reserve’s model, the Weimar Republic banking system from Germany, which ultimately went wildly amok from its infinite printing binge. Still, it took some time for it to unravel, as it is for today’s criminal bankers gone wild.
Given that the New World Order’s central bankers have a stronghold, literally, on the Western banking system, that power will not easily be ceded, and that faction will destroy currencies in the process before ever acknowledging their historically proven to be doomed policies are not working except in transferring the Western world’s wealth into their greedy hands. On that score, things are working beautifully, if you happen to be a part of the NWO.
[Editor’s note: to read Noonan’s complete article complete with monthly, weekly and daily charts on gold and silver along with detailed analyses and comments please go here. It is well worth the read for individuals wanting more detailed information.]
Other Noonan Articles:
Below is a perfect example of how the charts timed the movement in the price of gold and silver over the past week. Yes, you CAN time the market as this article clearly demonstrates! When the market “talks,” we listen.] Read More »
The window of opportunity to buy physical gold and silver continues to narrow. Like the housing market top was known to be coming, when it came, those who waited too long regretted it. When the bottom for the physical PMs is known as a certainty, those who waited for a “better price” may also regret that decision. It is all about choice. Read More »
In an election, it does not matter if voter turnout is high or low, the outcome is determined by the actual votes cast. The same holds true for the markets. Only those who make an actual buy or sell decision determine the outcome of the market trend. The market “voters” turn up in charts, recorded in the price range, close, and volume. Collectively, a “story” unfolds, and it usually is an accurate one as it does not include any opinions. Opinions do not matter. Articles written about fundamentals, pundit declarations, etc., all fall under the category of opinions. The market is the best source for information, and that is a fact. Read More »
…Fiats have an unbroken track record of failing throughout all of history. Gold also has an unbroken track record of being a store of value for over 5,000 years. Yes, there have been hiccups along the way, and we are in one now. It is what it is, but what it is is also an incredible buying opportunity at “fire sale” prices….[That being said,] a look at the charts of the paper-tracked PM market [beg the question] … “Where’s the beef?” Where is the substance of anything? We see none in the charts. Take a look. Words: 610; Charts :4 Read More »
Technical analysis is a measure different from fundamental analysis…and we qualifying our approach with a specialized subset of technical analysis. How so? We read price and volume behavior, over time, in the form of developing market activity. It is what one sees on a chart, price ranges, close locations, volume, time factor[s], but no more. Below are charts that suggest that the weakness in silver may be coming to an end, sooner now rather than later, but that for now, it is what it is – and what is, is reality. Read More »
You will read more and more articles touting how gold and silver have bottomed. They have not, at least according to price behavior as determined by actual buyers and sellers in the market. Read More »
Charts speak the loudest…and they never lie…[because they are] the true record of all buy and sell decisions executed, coming from the most informed to the least informed. Most of the problems lie with those who form an opinion, and how they choose to impose it onto what any given chart “says.” My understanding of what the quarterly monthly, weekly and daily charts are conveying about the price action of silver is, simply,] “Silver stackers, these lower prices are a gift you should keep on taking. Stay tuned.” Read More »
If you want to make rabbit stew, first, you have to catch the rabbit so hopefully, first, we’ll see some concrete signs that a bottom is in before the regurgitation of “Gold is going to $10,000!” starts showing up in a host of new articles pandering for attention. The best way is to decide for yourself…so let us go to the most reliable source, the market, and see what the prices of gold and silver have to say about what everyone else has been saying about them. People have been known to exaggerate, even lie in their “opinions,” but the market never does either. Read More »
Not one Precious Metals guru has gotten anything right in the last 18 months. All have been calling for considerably higher prices. Over the past several months none called for sub-$1,300 gold and sub-$20 silver. Crystal balls do not work and never have. When it comes to markets, anything can happen [but the charts convey that] there is no apparent ending action suggesting a selling climax or even a cause for a reaction rally. Take a look. Read More »