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Tom welcomes back Gareth for a great, must watch chat!

Gareth discusses the importance of balancing news with chart technicals. You want to be aware of new economic data even though his focus is primarily on the charts. Be flexible and look at many sectors for opportunities.

Gold looks very promising especially considering that markets trade-off fear and greed. Gareth is very bullish on gold due to interest rates and inflationary pressures. He believes gold will move sharply higher and provides several specific price targets based on its 2011 move.

Gareth discusses Janet Yellen’s recent talk of possibly raising interest rates and why any such rise will likely be limited. The Fed will be forced to cap at two or three percent regardless; the next few years will likely be crazy.

The next breakout in silver should come soon based on recent price action. However, he would be concerned if we break below the lower trendline.

The dollar is still holding support, but it’s testing the bottom of its trend. It seems possible that it will break through that support. A breakdown in the next couple of weeks could send the dollar to the 85 levels.

Gareth argues that technicals can provide for accurate trading and risk assessments. He questions why investors want to buy when prices have just doubled instead of waiting for a sale.

He compares the bitcoin chart with the Shanghai Composite and how the charts look very similar. The Chinese market has been restricted to some extent, making him think a breakout could be coming for Chinese stocks.

The SPY has been in a closing wedge pattern, which will likely break down. He is concerned that massive tax hikes could cause institutions to unload. Institutions appear to be moving out of equities even now, with retail investors making up the difference. He sees similarities between today’s markets and 1999 and 2007.

Time Stamp References:
0:00 – Introduction
0:35 – News vs. the Chart
1:30 – Sectors & Charts
3:22 – Gold $1800 Level
7:17 – Resistance Levels
8:30 – Yellen & Rising Rates?
10:15 – Offsetting Inflation
11:50 – Silver Chart
15:34 – Metal Drivers
16:22 – Dollar Chart
18:22 – Volatility & Technicals
20:50 – Bitcoin & Shanghai
24:55 – S&P Major Pivot
27:05 – Chinese Stocks
28:48 – Wrap Up