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Daily Report : A persistent uptrend in Gold suggests more upside

Jason Goepfert
2024-10-22
For only the 9th time since 1971, Gold closed above its 200-day average for 260 consecutive sessions, indicating persistent upside price momentum. Following similar precedents, the precious metal rallied 100% of the time over the subsequent six and twelve months.
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Headlines

A persistent uptrend in Gold suggests more upside: For only the 9th time since 1971, Gold closed above its 200-day average for 260 consecutive sessions, indicating persistent upside price momentum. Following similar precedents, the precious metal rallied 100% of the time over the subsequent six and twelve months.

Smart / Dumb Money Confidence

Smart Money Confidence: 36% Dumb Money Confidence: 74%

Risk Levels

Stocks Short-Term

Stocks Medium-Term

Bonds

Crude Oil

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Agriculture

Research

A persistent uptrend in Gold suggests more upside

By Dean Christians

BOTTOM LINE
For only the 9th time since 1971, Gold closed above its 200-day average for 260 consecutive sessions, indicating persistent upside price momentum. Following similar precedents, the precious metal rallied 100% of the time over the subsequent six and twelve months.

FORECAST / TIMEFRAME
GLD -- Up, Long-Term

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% Showing Pessimism: 14%
Bullish for Stocks
Inverse ETF Volume
NYSE Up Issues Ratio
NYSE Up Volume Ratio
OEX Open Interest Ratio
VIX Term Structure
OEX Put/Call Ratio
Mutual Fund Flow (no ETFs)
CSFB Fear Barometer
% Showing Optimism: 40%
Bearish for Stocks
Smart Money / Dumb Money Confidence Spread
NYSE Arms Index
NYSE High/Low Ratio
Retail Money Market Ratio
Rydex Bearish Flow
Rydex Ratio
Rydex Money Market %
Equity Put/Call Ratio
% Showing Excess Optimism
Intermediate Term Optimism Index (Optix)
Dumb Money Confidence
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Options Speculation Index
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AIM (Advisor and Investor Model)
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NYSE Available Cash
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