With that being said; I bid you adieu to my charts: Happy New Year and good luck this year. You'll need it.
Gold...The best performing currency in 2014...#2 actually. "USD" was better. (due to JPY, EUR weakness)
Gold in EUR: = breaking out
Keep in mind of these below charts...Gold still has a lot of work to do against other benchmarks before a major break out.
As far as the broad markets go... . Overvalued and overbought. There are pockets of value still remaining out there. Some solid signal names. If you aren't willing to do your homework and dig around, don't bother investing in the general indices.
GDX/GDXJ Chart updates:
Weekly view:
SPY: "The market’s price to sales ratio is at an all-time high, the market capitalization to GDP ratio (Warren Buffett’s favorite indicator) is the second highest in history…. The Shiller Cyclically Adjusted P/E Ratio for the S&P is 27. That level has been exceeded only two times before – in 1929 and 2000."
I've continued to say that the bull market in gold will resume when a couple criteria are met: 1.) gold and the dollar rise in tandem. This is what we've seen as of late. 2.) Gold regains 1400.
https://www.bullionstar.com/blog/koos-jansen/guest-post-i-have-a-theory-on-the-swiss-franc/
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