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Gold's Inverse H&S: Rocket Time!

Morris Hubbartt
Weekly Market Update Excerpt
posted Apr 15, 2011

UUP (US Dollar Proxy)

• Against gold, the dollar looks headed right off the trading board! One of the greatest financial dangers is worldwide panic liquidation of the dollar, and it may be near! In a panic, a world reserve currency is sold worldwide.

• Note the flat-lining indicators on the chart. The US dollar looks like a penny stock with no chart support. The dollar’s technical situation is anaemic, and the drain on its value is unbelievable. The dollar index is at the lowest levels since November of 2009!

GOLD 6 Mth Chart

• The bedrock of all portfolios must be gold. In my opinion, physical metals outside the banking system should be a full one third of your portfolio. If you want to see a higher gold price, don’t just buy the metal in your trading account. Bring home some physical gold!
  

• Whether you have gains over the last six months trading my technical signals or from your own individual trades, the best thing you can do right now is put some of those profits into physical gold.

SGOL (gold bullion proxy) 6 Mth Chart

SGOL 6 Month Chart Analysis

• This week I am aggressively buying gold stocks, in part because of powerful action on the SGOL chart. 60 minute charts are the key to getting in & out with the biggest trading profits. 

• Goldman Sachs’ comments on gold and commodities barely put a dent in the gold price. As the story broke, my technical signals flashed buy signals for gold. You can look forward to buying gold into the next GS news release! The GS-inspired sell-off was tiny, and the new high today is putting “golden egg” all over the face of the GS analyst!

• I currently have a Super Force technical buy signal in play for gold, and this week’s price action is powerful! While 6 months of consolidation is normal, don’t be fooled by those in high places making overly-negative market commentary on gold. The bull is getting stronger, and a correction of size now appears highly unlikely. Instead, a blast higher seems like the most likely scenario!

Gold Juniors GDXJ Chart

GDXJ Chart Analysis:

• GDXJ is currently on a technical buy signal. Based on my SFS Gold Stock Ratio, the 12 month target for GDXJ is $75. I have just completed a deep look into the juniors sector, and I am very positive in the short and long term. Future gold supplies depend almost totally on junior companies!

• Technically, this week I want you to focus on the inverse head and shoulders chart I am highlighting. This is the most bullish chart configuration, and it is very subtle in this case, almost totally unnoticed! Gold juniors are on the verge of a rocket move higher. Take a good look at this chart!

• Ironically, many junior gold stock investors are close to throwing in the towel, just as all you dreamed about is about to come true! Some investors are even shorting the gold stocks. This is a horrible mistake. Those going to the dollar now are doing so just as it begins a huge down-leg that could soon become a worldwide panic.

GDX Weekly (Big Picture Chart)

GDX Chart Analysis

• Gold is the ultimate asset. By any reasonable measure gold is grossly undervalued, even today as it hits an all-time high! This is a debt crisis and debt levels are rocketing, so I’ve highlighted what I call the “big picture GDX chart”. The bottom line: Your upside break-out on gold stocks is here!
  

• When it comes to gold senior stocks, there are a lot of people on the wrong side of this trade, and they are about to find themselves a lot more wrong! They believe the price of gold is way overpriced, which is preposterous. Most of Wall Street has little respect for the value of gold and they may learn a valuable lesson soon, the hard way!
  

• My GDX target is $72, based upon my SFS Gold Stock Ratio. From there I am looking for $80! A huge increase of price volatility is also near, and many investors will give up, unable to deal with giant price plunges that feel like “it’s all over”.    

UNG (natural gas proxy) Chart

Chart Analysis

• I have a buy signal for UNG-NYSE, which I issued on April 6th at $10.84.

• The volume formation of the last many weeks is hugely positive. Up volume has dwarfed down volume. Price is perched on significant volume based support (VBS).

• The volume pattern is indicating the recent move up is not over. When I look at the power volume after the deep January to March correction together my with SFS Fuel Cell Indicator buy signal, higher prices seem imminent!

• The big picture is that natural gas is an undervalued asset that is long-term technically oversold. Natural gas at about 73% off its all-time high of 2005 is hugely under-priced!

Current Super Force Projections:

1. Silver: $50.
2. Gold: $1570. Long term: $4000.
3. GDX: $72, then $80.
4. GDXJ: $48, then $75.

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About Super Gold Signals:
Our Surge Gold Signals are created thru our proprietary blend of the highest quality technical analysis and many years of successful business building. We are two business owners with excellent synergy. We understand risk and reward. Our subscribers are generally successfully business owners, people like yourself with speculative funds, looking for serious management of your risk and reward in the market.

Frank Johnson: Executive Editor, Macro Risk Manager.
Morris Hubbartt: Chief Market Analyst, Trading Risk Specialist.

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