Would anyone care to share what Martin Armstrong's private blog say about gold at the moment? I think his macro views are worth listening to, but Socrates is a waste of time and money.
Regarding the macro view, the rear mirror perspective should be shown more often. Here it is. Directly from the private blog. You check his macro view and tell me what its value was from that perspective:
Gold for the Close of June 2019
Monday, 01 July 2019
By: Marty Armstrong
Gold finished below the 1417 number which we expected would happen since the rally was still premature. Nevertheless, the fact that it closed well above 1362.50 suggests that we should move back to retest this now as support.
According to our sources, the central banks which have been buying gold are all on the opposite side of the political table from the US and Europe. It appears that they have been buying gold NOT because they think this is a bull market, but out of fear that we are headed into a geopolitical conflict. Trump does not want to commit troops to war, but the neocons do! They will support either Republican or Democrat as long as they get to start wars in the Middle East.
From a purely technical perspective, the major support will now lie at 1275. Our Energy model is a slightly positive warning that the rally has NOT been one of broad support to date.
Wow, that was really completely worthless from Marty
So the gold price breaks the 136x level just slightly and already talking about retesting the breakout way too early. That's not how markets work.