So is gold dancing in the moonlight? In my last post, I mentioned an obscure theory that the gold market is effected my the moon phases. Last Thursday, when gold seemed not to be able to find any support, I had noted that Friday was an Apogee of the Moon phase. So what has happened since last Friday?
Gold found support and is once again over $1900 per ounce. Is that it? The secret to everything? Follow the moon beams?
Do what you will BUT trading on the moon phases is a little out there or is it?
Silver also seems to have found some support last week.
The miners also have rallied to above the 18 day moving average with two gaps to the upside.
It must have been written in the stars! Or is that the Moon?
On a more earthly plane the stochastic is up and GDX is above the 18 day moving average which is bullish.
Given that today is Election Day and barring a blow out I do not believe we will have a declared winner for weeks, expect volatility in the markets and as weird as it sounds, on the streets.
And a word of advice, if you find yourself in a PURE RAGE over the elections: CHILL OUT and have a BEER.
The last American Civil War only ended after five years and 500,000 deaths of soldiers, not to mention countless civilian deaths. The point being is you have plenty of time to join the FUN, so relax.
Peace out and stack on.