Looking Ahead to Tuesday

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This post is my attempt to frame where we have been and where we seem headed.
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The chart at the right recaps the past 2 week sharp correction in the stock markets and how well each of our 'Kitco' stocks performed during the 10 session fire storm of selling.
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The SP-500 lost 9.7%.  GLD lost 3.8%.  GDX lost 8.9%.
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The strongest miner was Randgold Resources (GOLD), losing only 3.8%,
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The weakest was Stillwater Mining (SWC), losing a terrific 22.8%.  [Yes, I know I own that volatile trouble maker].
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Click on the chart to ENLARGE

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Next, let's take a peek at weekly Gold.
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I offered several thoughts on the chart which you may read, if interested.  
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Whatever happens in the next 6 or so summer weeks is probably not too important nor is it going to be too exciting.  Gold is apparently consolidating above $1180 - waiting for the 200 dma to catch up.  By late  August to early September gold should be in a great position to rocket launch this fall.
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Click on the chart to ENLARGE  

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Here is hourly GLD for a look at a TSI trend line that needs to be broken and a ZERO crossover that needs to happen for GLD to make a nice move this week.
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Click on the chart to ENLARGE

                                                             
SP-500 - one way or another I expect that gap around 1071 to get filled this week or next.  When it does I will reevaluate how strong the market is behaving and either do a little selling at that point or just continue to hold out for higher prices.
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Click on the chart to ENLARGE