Sunday, July 19, 2020

Stock Market Update: July 17, 2020 - Let's Look at Gold

Stocks are doing well from a Stage Analysis view, with the DOW joining the other major indexes when it finally move above its 30 week moving average. Let's see if it sticks.

Gold has been getting a lot of attention lately as it reaches highs lately and the US government printing money like crazy. See this interesting Barron's Article.

I thought it would be interesting to compare gold to the DOW and S&P. If the recent crossover is any indication and works like it did in the 2009 downturn, gold may continue to move upwards. The orange line in each chart represents GLD (ETF).



How about technology? It also is on an upward trend. Martin Pring has a great blog post on it. The next coming week's will help us see if the trend will continue or reverse.