Gold remains near the all time highs, but momentum is starting to stall and could potentially reverse.
My momentum indicator has peaked at an unfathomable 4 sigma level, and is now turning south. Typically that precedes a major move lower.
I am on a self imposed timeout this week on Gold as I have whiffed on this 3x, but will be watching closely.
Hey Michael, welcome and thanks for the kind words. It’s a proprietary indicator but it’s a normalized version of MACD that makes it easier to compare over multiple periods.
Hey Dan. I just subscribed and love your stuff. Thank you for all you do. What are you using for the momentum indicator?