Turn Up The Heat
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Bob Loukas is the founder of The Financial Tap. With over 20 years of experience in market analysis and trading, Bob is a life-long student of economics and has an abiding passion for the financial markets.
He is a leading expert in Market Cycles. His love of Cycles emerged from the study of the work of Walter Bressert, a pioneer in the field.
Originally from Sydney, Australia, Bob has been settled in New York City for the past 16 years. His background is in Computer Sciences, with extensive experience in the Financial Software arena. Prior to launching The Financial Tap, Bob served as a senior executive at various Fortune 50 firms where he led development of financial trading and reporting software.
This content is for members only
This content is for members only
This content is for members only
The most bullish path (from a number of possibilities) has tracked this week and we have a solid new Daily and Investor Cycle high. This is by no means (yet) a sign that a new bull market has started, that type of conclusion can only be reached with consecutive higher highs at the Investor Cycle timeframe. I like how the sector has performed here, but let’s not forget that all commodities are doing well with a sharply lower dollar. And for those with short term memory issues, let’s not forget that gold has a habit of drawing in the gold bulls before unleashing another wave of selling.
This content is for members only
This content is for members only
This content is for members only
This content is for members only
This content is for members only
I predicted that gold would rally last week up to the $1,155 area, and was also equally unsurprised when it was rejected the first time by that declining (see green trend-line on chart) resistance line. Those are standard or obvious Cycle pivot points, but how it continued lower yesterday to fall well below the 10 day moving average was not a “typical” development if you’re a supporter of the bull case in gold.