Gold Smoked Intra Day Signals People Want More Risk, Also Means Top Is Near (NYSE:GLD), (NYSE:AEM)
The fact that gold has been crushed today with the dollar lower and the markets higher tells me a top is near. Why? Simply put, gold dropping tells me the average person, believes they can make far more money by going into riskier assets like stocks. Why does that signal a top? When the masses fully believe a rally is at hand, the rally has already happened and is over. Sadistic? Yes! Funny? not really!
The dollar opened flat to slightly higher today. Gold also opened higher. The dollar has fallen but gold has tanked sharply as well. Generally, when the dollar falls gold spikes higher. Much like we are seeing with oil today. So why is gold dropping? Just like I said before, gold is collapsing as the amateurs look to make more money in other assets. Thus a perfect indicator of a top in the markets and stocks.
The gold indicator is truly a great one seen today. Understand it and utilize it well. In addition, join the Research Center to get all the long and short swing trades on the market, stocks, commodities and dollar. Get it all so you can make money! I will see you all there!
Gareth Soloway
Chief Market Strategist
InTheMoneyStocks.com
