SUNDAY UPDATE: HAPPY EASTER!, & GOLD AT RECORD ATH

 

“Bless the Elmer Fudd's of the world!!”

Have you seen chocolate prices lately? … those Cadbury creme filled eggs, you

almost need to see the loan department at the candy store for info on an

appropriate payment schedule after 20% down … and the pecan turtles [hand

made of course, filled with caramel] are just as bad if not worse … how the Hell

do you spend over a $150 on frickin’ creme filled eggs and some turtles? … are

these priced in Japanese Yen? … and the response from the women natch is

“STFU and pay the bill!” … may I have one? … NO, you’re just here to pay

for ‘em! … Happy Easter, have a red hard boiled egg when you get home.

Meanwhile, gold closes the month and quarter at record highs in dollars, and no

matter the news, the 2 main drivers are 1) the ChiComs insatiable demand for

phyz to make the Yuan fully convertible at some point here in the near future,

and 2) the Banana Republic formerly known as the “U.S.” borrowing

$1 TRILLION DOLLARS EVERY 100 DAYS, and as ZH points out in a premium

article, by the end of the year interest costs on the debt will rise to $1.6

TRILLION DOLLARS! … and the “Uniparty” Dopes in “The Swamp” [ALL

Libtards & Rinos] could care less .. borrow more, spend more, what can

possibly go wrong? … outside of the clueless FED Lounge Lizards, the other

central banks know, and demand for phyz gold is off the charts, commanding

“bigly & yuge” premiums for delivery … KEEP AN EYE ON SILVER, CUZ

IF/WHEN IT BUSTS $26 TO THE UPSIDE, THE EARTHQUAKE HIGHER WILL

BE “BIGLY & YUGE” AS WELL … just a matter of time.

Directly below, this week’s 20 Day Range & Median values for BTC, ETH, SP500,

& Gold.

click on table to enlarge

Onto the week … OUTTA HERE … “The future’s so bright I need 2 pairs of

sunglasses 😎😎, and my own Brinks armored truck” 💓!!

… Onward & Upward!!

-vegas

JOYOUS EASTER HOLIDAY BLESSINGS TO ALL!!

 

“OK, where’s my deli roast beef!!?”

Most markets closed today in observance of Good Friday, although crypto never

closes for anything, and how would you even know if FX were open or not the

action is so pathetic? … in addition most of the world, excluding the Banana

Republic, will observe Easter Monday as well and be closed for that … all in all

a happy occasion for world traders as many will take a 4 or 5 day vacation

… some will take off all of next week.

As you would expect with most everything closed, and no earth shattering

headlines outside of P. Diddy and his budding troubles, crypto is relatively

quiet … but it is crypto, and as everyone should know, the only rule in crypto

is there are no rules for crypto, so anything can happen when volumes and

liquidity are somewhat light.

That was some close yesterday in gold … approximate $48 daily range, and a

final NY session range of about $33 … this is exactly what I’ve been saying we

should be roughly seeing for gold in NY [8 AM EST - 4 PM EST] given it’s price

of over $2200 per OZ. … SOMEWHERE IN THE 1.25% - 1.75%+ price movement

is a rough historical norm … give it a few more months / years, and with the

Dipshits the Banana Republic calls “leaders”, gold will continue to climb while

the ranges expand, and it probably won’t be that long before gold surpasses

the price of Ethereum [ETHUSD] and we get routine daily / NY ranges easily

above $100 per OZ. … “that mi amigos will be quite the shitshow circus

watching the FED / COMEX / LBMA / BIS gold cartel try and micromanage the

price as other exchanges in other countries take over the biz of trading

… especially physical spot trading we are seeing growing by leaps and

bounds in Shanghai, Moscow, and Dubai to name just a few”.

Many of you, especially those who live in the U.S., think the CME micro gold

futures contract [10 OZ. = 1 lot volume] is a good alternative to the LBMA

XAUUSD spot market … IMHO, I COULDN’T DISAGREE MORE! … depending on

the day and how active gold is, the LBMA consistently does 50X - 100X larger

per OZ. volumes than the CME … you aren’t gonna get any “deals” at the CME, I

can assure you of that! … and who is it that are the major players doing “arb” biz

between the LBMA and COMEX? … that’s right, the LBMA members … the CME

is 10 OZ. per 1 lot … LBMA can be traded in 1 OZ. increments … margins at the

CME are a helluva lot higher to boot! … but perhaps, depending on your

perspective, the most important detail is ZERO 1099 REPORTS TO THE U.S.

IRS ON ALL OF YOUR TRADES AT OFFSHORE BROKERAGE HOUSES THAT

SUPPORT LBMA GOLD TRADING … THERE IS NO REPORTING OF ANYTHING

TO GOVERNMENT AGENCIES, simply cuz the jurisdiction the brokerage house

operates in has no requirements for doing so, and the local government could

care less … you won’t find any U.S. domiciled brokerage house trading XAUUSD,

CUZ THEY CAN’T OFFER IT TO ANYBODY WHO RESIDES IN THE U.S. OR IS A

U.S. CITIZEN … which is fine, fuck ‘em who needs ‘em? … plenty of places

offshore to go and trade XAUUSD.

The biggest factor, IMHO, as to the bullish sentiment going forward are the

ChiComs … 1) we all know the ChiComs want [and will at some point] fully back

the Yuan with gold convertibility, and thus the need for ever increasing amounts

of physical gold to do just that … 2) already, China has cozied up to both the

Ruskies and Saudi Arabia, and is actively paying for crude oil with gold through

Shanghai settlement … they use the Comex to buy futures and swap via the EFP

[Exchange For Physical] portal and take delivery, and then convert that gold for

settlement for oil, thus receiving in the end more Yuan … and 3) the ChiComs

are enthusiastically extolling their billions of people to buy gold as an investment

… I guarantee you, every ounce of gold that hits China, from Swiss refiners or

wherever, will never see it leave the borders! … if the Chinese people want to sell

their gold, they’ll have to do it through a state owned bank and receive Yuan … it

ain’t leaving the country … and so it begs the question of why would the ChiCom

leadership stiff their own people and get them into gold ownership and then stiff

them? … they may be ChiCom thugs and murderers, but they ain’t stupid! … and

that means gold price corrections, when they come, should be shallow cuz of

the solid support from the PBOC and other central banks … the FED can play

all the games it wants on this side of the pond in attempting to suppress price,

even using the BIS to borrow gold to sell … but that gets gobbled up “el mucho

quicko”, and now what? … “hey Spicoli, got anymore of that there gold to sell?”

… and don’t forget, the Banana Republic is borrowing $1 TRILLION DOLLARS

EVERY 100 DAYS!, and supposedly the economy is humming along just fine

[sure it is] … imagine the level of borrowing if a deep recession or depression

comes along, which it surely will!

Interest rate cut expectations since the start of 2024 have been almost 100 bps

… under historical normal circumstances, that would be sending gold lower in

price … Whoops!, curve ball time! … it’s almost impossible for the Lounge

Lizards to raise rates, cuz doing so brings the end game of the “house of cards”

crashing down into a depression, where rates would then have to be cut quickly

and drastically … where does crypto and gold go then? … it sure as Hell won’t

be lower … at some point the U.S. population panics “bigly & yuge”, and the

rush to preserve and protect wealth will see gains never before seen on both metals

and crypto … one look at the Uniparty in “The Swamp”, and it’s about as close

to a guaranteed event as you can get … just remember what I have said before

… “It’s better to be 10 years too early, than 1 day too late!” … if you can’t see

the hurricane clouds on the horizon, you are either blind or delusional.

With gold closed today, I turned my attention to ETH … it had one chance today

to break higher and blew it … out of the NYSE gate for the first 15 minutes came

the small rally … that opening m15 high never got broken to the upside … after

75 minutes of chop, it broke down and the ZLMA, period 15 turned from white to

hot pink, signaling weakness in price … and down goes Frazier! … now into the

New York afternoon ahead of a Holiday weekend, I want no part of this thin

volume zero liquidity playground … blog update on Easter Sunday, and yes

Sparky the wonder dog got his deli roast beef for posing for an Easter Good

Friday pic ... he's now a happy camper!

… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,

and my own Brinks armored truck” 💓!! … Onward & Upward!!

-vegas

CAN GOLD TRADE AGAIN IN NEW YORK?

“And he still couldn’t get a girlfriend before he died!!”

As ZH points out today it’s a never ending story that gets boring, simply cuz the

trajectory of national debt and interest costs only knows one direction … up, up

& away exponentially! … the link directly below.

https://www.zerohedge.com/markets/cbo-director-warns-debt-market-meltdown-

us-debt-unprecedented-trajectory

And for the umpteenth million time, today is just like another day of “shit happens

in the Asian and early European sessions”, and then it’s “pretend & maybe extend

a little” some pitiful price action in New York for gold … why start a war with the

Banana Republic when you can bankrupt them and make their fiat worthless, all

the while the Yuan gets backed by gold bullion and capital flows move very

quickly to China? … the data doesn’t lie, as Swiss exports of gold to China from

their refiners, shows a big jump at the start of 2024 and it hasn’t let up one bit

… directly below the data from Bloomberg.

click on any image or chart to enlarge

Meanwhile, the clueless Uniparty Dopes in the U.S. borrow money at the RATE

OF $1 TRILLION DOLLARS EVERY 100 DAYS, and then get to pay interest on

that debt … and you wonder why gold and crypto are headed North to

unfathomable levels in the future? … gold would need to be priced around the

value of $60K per OZ., if the U.S. still has any left of the approximate 260 million

OZ. the FED says they have but won’t let anybody actually verify that number

with an audit, and if they stopped borrowing money today! … well guess what?

… that ain’t gonna happen!!

The real question for me, IS CAN IT TRADE ON THIS SIDE OF THE GLOBE AND

GIVE US OPPORTUNITY FOR PROFIT, OR IS EVERYTHING A FUNCTION OF

CHINA IN THE ASIAN SESSION? … quite frankly, $10 - $15 ranges for New York

is pathetic for a market that finds itself at $2200, and North America is

considered the “primary market” … we should be seeing $20 - $30+ ranges in

New York but aren’t even coming consistently close to that right now … I expect

that to change here very shortly! … buckle up Skippy, the potential outlook for

gold to go much higher and for ranges to be extended is very promising … place

your perspective on gold as if it’s simply a crypto currency in very high central

bank demand … it makes much more common sense!

Looking at the 20 Day Range MA & MEDIAN values I publish on the Sunday

update, unless SHTF in a major way I don’t see the crypto pairs BTC and/or ETH

extending values in a major way going forward, and if anything slowing down

into the BTC “halving” and the utter confusion created by a feckless SEC towards

an ETF for ETH … this should slow MOMO down some for the immediate future

… on the other hand, gold is in the MOST SILENT BULL MARKET IN HISTORY,

with almost no retail participation I can see with silver lagging badly … the

ChiComs and other central banks are the main drivers, and I don’t expect them to

abandon gold or start selling anytime soon, like forever! … why should they?

… the U.S. is destroying itself, while they accumulate every ounce they can get to

eventually back the Yuan fully with gold … and to the same extent, the Ruskies

are in the same boat … in other words, gold looks poised for better trading action

… and that means I’ll be looking at it closely earlier in the day, starting my trading

around 5 - 6 AM EST … if it dies, then it dies and I’ll adjust, but I would be

shocked if all of a sudden the ChiComs started to ignore gold.

Currently on the m15, I have RM=3 [ORANGE] & RM=4 [RED] as support /

resistance levels … if going forward these levels start to get consistently hit,

I’ll adjust volatilities higher and post the new gold mq4 in “Download Links”

… today’s m15 chart directly below.

As I have previously stated, where traders go wrong in determining support and

resistance, it’s cuz they only focus on price and ignore volatilities … you simply

have to know generally where VIX is, and the RM levels determine that quite

nicely! … on the m1, current gold RM’s are at RM=2 & RM=3 … into the New York

afternoon, and so far New York has about an $11 range for the day … pathetic,

simply pathetic, but there’s enough in that to scalp but I would be hesitant to keep

trades on for a longer day trade in this environment.[And as I write gold has just

hit a new high for the day, after screwing around for hours inside of chop … the

m15 high gave way, and it’s off to the races … quite frankly, there isn’t any place

for shorts to go except for extreme short term scalps, and if you’re wrong,

you’re gone! … gold now, around 1 PM EST, with about a $38 dollar per OZ.

daily range, and about a $20 range in New York, which is where I said previously

it should be experiencing … all it has to do now is remain relatively consistent,

or go even higher!]

On this latest move upward, directly below a screenshot of the m15 [left] and the

m1 [right] with RM levels and the full algorithm . when any market, crypto or gold

moves, it doesn’t get any better than this.

When that m15 high at 19:00 got taken out, all of the algorithm parameters were

lined up for a move higher … both m1 and m15 were “white”, and the histogram

of the simple EMA MACD [8 period fast, 15 period slow] MOVED OVER THE

LEVEL 0 YELLOW LINE.

ETH price action today disappointing, not cuz of a lack of price movement, but

cuz of restricted range movement after a sizeable move in late Asia … that

usually means chop, and sure enough we got it … only one trade in ETH fr the

PAMM today, and WE’RE UP SLIGHTLY … ONTO TOMORROW AND GOLD!

… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,

and my own Brinks armored truck” 💓!! … Onward & Upward!!

-vegas