from Kerry Lutz's Financial Survival Network
For Gold&Silver Miners, Chris Vermeulen wants to see gold rise to 1870 and then break the 1960 level. That will be the sign that the new gold bull market has begun. Right now the miners are outperforming the medal and the market in general. Chris isn’t trying to pick a bottom. The break-out will be a lot like July 2020. Then we’ll see an intense 1 to 2 month rally. China buying hasn’t taken off as best we can tell, despite the news to the contrary. Additionally, the general public is nowhere near wanting to buy metals yet. Largely due to no fear coming from the stock market. We could be years away from that, it’s a long journey to the upside. Copper has blasted to the upside. $4.50 is the next resistance point after which we could see it go much higher. Lumber has had a massive rally. It’s a feeding frenzy in the real estate market. No one cares about the price and everyone is fighting over it. But for how long? What will stop the housing market? As Chris describes it, there’s a huge lag in this market. There’s not going to much affect for 3-5 years. Increasing rates will put some pressure on the market. Bitcoin down 16% in the last 3-4 trading days. Over the past couple of years, the last 4 pullbacks have all been double digits, but they’re getting smaller and tighter. What sectors of the market are doing what? Stock market is getting a little over done on the S&P 500, starting see defensive plays outperform. Ripe for pullback.
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from Kerry Lutz Podcasts – Financial Survival Network https://ift.tt/3annE4H
