Hello and good Sunday to you. Here are the few links of the week.... 
 

No Change in Outlook for Gold & Silver
Article penned Friday. Our latest thoughts on why we expect metals to rollover soon. 
 

Greg Weldon Comments on Gold, Stocks, Currencies
Video update published Wednesday evening. Our latest thoughts on precious metals.
 

Macro & Credit
The latest from the great Macronomy Blog. Great update on macro and credit which includes a number of actionable charts. 


What Follows the Most Epic Reach for Yield in History?
Great blog post from Jesse Felder. 


Negative Rates are Next in the US. Here is why.
From ZeroHedge.


Dan Norcini Update on Gold & Miners
Long update. High quality, actionable commentary. Great stuff from Dan. 






Premium Snippets 



Chart 1 shows the our top 15 index. Its not necessarily our 15 favorite companies but most of our favorites are in this index. 

This daily line chart gives a clean look. The index has popped higher but faces major resistance right below 130. (It closed at 123). The 200-day and 400-day moving averages are at 123 and 126. And they are sloping down which emphasizes that the trend is slightly bearish until proven otherwise.

The index could certainly rally a bit more and retest resistance again. But if it turns lower and then loses 110 then it could fall to the mid to low 90s. With strong resistance overhead (123 and 126) and major resistance at 130-135 this is definitely a time to think about being defensive. This is an index of some of the strongest companies both fundamentally and technically. Not a good sign for the sector. 
 

Chart 2 shows Silver and a breakdown of its CoT. The net speculative position is the difference between shorts and longs. We track each as a percentage of open interest.

Silver's net spec position came in at 29.2%. That is its 5th highest level over the past 30 weeks (7 months). Silver has struggled to mount or a rebound or sustain any strength in recent months. Now the specs are fairly net long. Note how Silver starts to decline once the gross short position comes down. In a bear market shorts are the buyers. I don't know if Silver is ready to dump this week but its setting up for its next decline. 



 




In TDG #450, a 31 page update sent Saturday evening we included an updated report on one of the lowest risk junior producers that included end of 2016 price targets based on a wide range of Gold prices. We also covered the usual things such as the immediate outlook for precious metals.

As expected the stock market rebounded and it took the miners higher- although a lot higher than we anticipated. There may be a bit more upside there but if the metals start to weaken I suspect the miners to revert to following the metals. Continue to keep an eye on the US$. It remains bullish technically and sentiment is in position for the US$ to finally breakout. Could happen this week or it could continue to consolidate for weeks. 

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I have subscribed to many investment services over my lifetime. I can honestly say Jordan Roy-Byrne has developed not only one of the most analytically accurate, but also has hit the high water mark by making his analysis feel personalized. In addition to a detailed weekly report, he often sends additional emails with daily observations of not only the physical metals and miners, but also related metrics such as the market and currencies. His service is a great integration of history and future probability that has not only helped me make money, but also avoid losing. In fact, the only time I do lose is when I take more aggressive positions than he has recommended, or follow my gut instead of his objective reasoning. It truly is a 5 Star Service at a great price.

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