The Recent Metals Action Is Causing Me to Change My Life
Recognize at this time is where the market cannot break below in order to keep the pressure to the upside. And, that is where you set your stops, writes Avi Gilburt of ElliottWaveTrader.net
I have made a groundbreaking discovery this past week. It is so earth-shattering, that it will literally change the course of my life, and may cause you to change yours as well. Let me explain.
Maybe you believe that the stock market volatility was the reason the metals rose? Well, the S&P500 (SPX) is within 2% of its all-time highs, yet the metals have continued to rally alongside the market.
And, maybe you believe that North Korea is the reason that the metals have rallied? Well, I have dealt with that issue recently, so I do not have to re-address it here again. But, suffice it to say that anyone who has really followed geopolitical events will know that gold has moved in completely opposite directions during such tensions through history, and they will never provide directional guidance for the metals.
And, maybe you believe that a rise in inflationary expectations is the reason that the metals have rallied? Well, the fact that interest rates have been dropping of late would clearly not support your thesis.
None of these are the reason the metals have rallied despite so many analysts claiming them as the cause for the metals rally.
But, I, Avi Gilburt, have finally figured out the real reason that has caused the metals rally.