Wednesday evening, January 13, 9:35 pm EST. Wow! Today may have been far more significant than anybody is even thinking right now!
I’m ‘amazin‘ as I am looking at the charts. The metals, and miners had sold off some today… struck a point of near-term support, and lifted… many on volume, and many eking out a bullish hammer candlestick.
NUGT lifted off its 200-day avg. SGDM staying within the price range of start of this latest upmove on 1/12. SILJ finding serious support off its 50-day. SLV showing relative strength vs. gold… and on big volume! GLD seriously rebounding, on volume, and creating a tight, though brief, consolidation. GDX staying within that range first defined by the 1/12 pop, and recovering on good volume, if not great. RGLD defining a true uptrend since 1/9, and volume slowly expanding. CDE finds support on its 50-day. PAAS hanging in within the price range first being defined by the 1/12 lift-off. FSM finding support on its 200-day average. WPM is finding support right on its 50-day. ABX has begun to sit on, and climb its 50-day. SSRM is doing the same. HL shows weakness, but looks to be trying to catch a bid right here, along with all the others. AG had fallen all the way back to a very major support line, and rebounded off of it on very good volume. PVG, the weakest sister, after a poor report 7 trading days ago… has also fallen to, and is sitting right on a very major level of previous price support, too.
Something’s up! The charts are giving evidence of something big possibly setting up right in here about now. Average volume for all was up by 42%! And, the avg price chart for all… rebounded off support of its own 50-day average. Checking metals prices overseas, they’re off some, but certainly not so much as to undo what happened here today. We need to be paying very close attention. It could be winding up for a really good lift. We’ll certainly know soon enough. But, I, for one, believe… but, then, never forget, I’m ever the eternal optimist. I can’t help myself! What? You don’t believe?