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Spot Silver and Silver Futures Headed for Upside Breakout in September

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This monthly chart of the spot silver price is saying that the price of silver and silver futures are going to break out topside in September – October time frame.  The silver price has consolidated into a down slanting head and shoulders bottom formation.  The monthly MACD is about to cross north and price is … Read more

Monthly US Dollar Chart Indicating it May Break Down Severely in September

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monthlyusdollarindex

I have some new information on the US Dollar index and wanted to bring it to your attention.  My obsession with the US Dollar Index continues… But why? Why am I so obsessed with the US Dollar Index.  I am because it is either going to help gold do a MEGA breakout or it could potentially hinder any breakout in gold or even cause a break down.

I just wrote a post on the negative seasonals that are kicking in for the US Dollar Index starting right now.  But I only just now discovered a new perspective on the US Dollar Index that is giving me a little extra dose of confidence that we could see the US Dollar break down severely in September and subsequently cause the gold price to spike to a new all time 30 + year high.

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The Gold Market Chips are on the Table so Lets Roll

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DX

The gold market chips are on the table and the US Dollar chips are on the table, now lets roll…

The gold price has now touched the top portion of the symmetrical triangle 3 times and the bottom portion 3 times.  One way or the other we will get a resolution.  Time wise I have calculated that the gold price cannot really extend much farther then end of September to make a decision because there is simply no room left inside the triangle.

The thoughts that go through my head when I look at the gold price triangle are something like, “Can this market really get an upside breakout?”, “What if the gold price extends too far into the apex?”, “This chart better start resolving itself SOON”.

The chart above is the seasonal US Dollar chart between the years 1985 and 1999 courtesy the Moore Research Center.  What is interesting about this seasonal chart is that we can see that the US Dollar tends to have a lousy second half of the year statistically between years 1985 and 1999.  And if we look carefully at the chart we can see that the most devastating statistical downside for the US dollar starts at MID AUGUST (we are in mid August 2009 right now) and then continues almost relentlessly until mid October.

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CTIC Cell Therapeutics Part 2

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I am looking at the yahoo finance page for CTIC right now and I see that the DJIA was down 2% today and the Nasdaq was down 2.75% today.  But CTIC closed at 1.57 only a penny down from yesterday and for practical purposes basically unchanged.

I am not posting a new chart of CTIC in this post because the action today was for the most part motionless.  The fact that CTIC was so tame today should speak volumes by itself given the minor beating the broad market took today. 

I realize I am only focusing on one day’s price action but it is still important in my opinion.  CTIC could have taken a beating today, but it didn’t.  Holders of CTIC stock were not willing to part with their shares today and so it is hinting to me that the shares are in strong hands.

We are still in the apex of the symmetrical triangle formation and we have not made any significant moves either to the upside or downside to warrant any kind of real signal.

So this ‘part 2’ on CTIC is basically just to point out the internal strength that appears to be present in CTIC despite the broad market weakness.

The August 24th date I mentioned previously with regard to CTIC has to do with the FDA making a fast track decision for one of CTIC’s drugs.  I cannot confirm this date or if any decision will even occur on that date.  So for now I am going to ignore that date and just keep it in the back of my mind. 

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CEGE Cell Genesys May be building for a Breakout Continuation Move

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I have been watching CEGE closely, another biotech stock in the face of today’s broad market weakness.  It is holding up quite well and I am impressed so far.  I am also impressed in CEGE’s breakout on big volume two days ago that marked a valid break of it’s longer term down trending resistance line … Read more