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Chris Kimble, a 30-year+ market technician and student of Sir John Templeton, gives us some food for thought over the weekend, beginning with a curious trio of key charts.
Chris elaborates: Tiny questions, issue and debates...
Clear as mud? Fundamentally confusing? I have only been involved in this business for 30 years. Am I the only one who feels like we have a unique situation on our hands? Boy would I like to speak with Sir John Templeton right now and ask... "Fundamentally, what do you think?"
Since fundamental issues are so darn clear, is the technical world just as clear?
Gold, Dollar and the 30-year bond: All three have had very nice moves over the past few months and we all know these 3 usually rally together. Right? Not usually! Yet maybe these aren't usual times in the TA world either. "This isn't your father's Oldsmobile" as the commercial used to say! Note: Let's hope not! The Oldsmobile was discontinued on April 29, 2004.
The current situation continues to re-enforce why TA can be a great risk management tool for part of a person portfolio.... Prices reflect all known knowledge for every man and women on the planet.
Let the price trend be our friend as we scratch our heads waiting for the fundamental picture to clear up.
Support, is support is support ... until broken. If one or all of these break support, take action!
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