SPDR Gold TrustShort
Double Top in Gold That Strangely is Correlated with Nividia
Updated
Did you know gold and Nividia have an 81% correlation? That's strange. (chart in comments)
I see a double top in gold.
TTM Squeeze firing on weekly, daily, 4 hourly and it's a continuation of a squeeze on the hourly. TTM Squeeze's usually bounce off the opposite side when it breaks/fakes out. Outside an exogenous event I see pm's taking the summer off and reawakening in the fall when the dollar tops out after the BOJ sells US treasuries after China devalues their currency after the dollar spikes when Europe cuts rates soon. It's going to be an epic chain reaction.
The FED will cut rates heading into the election and if Trump wins he'll ride the last meme wave until it crashes and reinstitute a gold standard, or if Biden wins we get CBDC's.
I'll be looking for low IV OTM calls in the fall after the FED cuts rates...
I see a double top in gold.
TTM Squeeze firing on weekly, daily, 4 hourly and it's a continuation of a squeeze on the hourly. TTM Squeeze's usually bounce off the opposite side when it breaks/fakes out. Outside an exogenous event I see pm's taking the summer off and reawakening in the fall when the dollar tops out after the BOJ sells US treasuries after China devalues their currency after the dollar spikes when Europe cuts rates soon. It's going to be an epic chain reaction.
The FED will cut rates heading into the election and if Trump wins he'll ride the last meme wave until it crashes and reinstitute a gold standard, or if Biden wins we get CBDC's.
I'll be looking for low IV OTM calls in the fall after the FED cuts rates...
Note
Nividia correlated with gold shows that this market is a rigged meme market buyupside.com/alphavantagelive/stockcorrelationcomputeavmonth.php?symbol1=nvda&symbol2=gld&start_month=03&start_year=2020&end_month=05&end_year=2024&submit=Calculate+CoefficientNote
Upward wedge, retest - about to drop...
Note
I like to use RSI 21 to get tops. I see a retracement for Gold until getting nuked into orbit following the FED emergency cutting rates due to some exogenous event.
Note
Bearish MACD crossover has happened 3x since 2011 and has cratered everytime since!
x.com/InvestingAngles/status/1798203165361442927
Note
Note
x.com/AlessioUrban/status/1799002235973882115China officially pauses gold buying - gold dumping...
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.