I am devouring a lot of ‘Chart Art’ from some talented people on Stocktwits today that really has me thinking about turning points.
The best place on earth to discover ‘Chart Art’ talent is by following our ‘Suggested Stream‘ and our ‘Charts‘ stream. You can pop them out and leave them streaming on your desktop for 10 minutes a day and be completely caught up on the mood of the market.
By following the right people, I don’t need to read news (I don’t). I like reading opinionated voices that have read the news and can outline clear ideas.
What stands out today is the inflection points facing the US Dollar, Gold $GLD, Silver $SLV and Bitcoins $BCOIN. Cyprus may be the final catalyst in new trends emerging, but it seems to me as troublesome as Cyprus is behaving that their 98 percent market decline leading up to the cash balance bank seizures is just part of their nightmare trend. The seizures may in fact mark the bottom for Cyprus more than the beginning of more pain. I don’t care to speculate on that event.
Charles Kimble got me thinking the other day when he compared the 10 year break out of the US Dollar versus the 10 year breakdown of gold. Yes, they are just lines on charts to most, but not to me.
Peter Brandt, a chart artist I like to read, says silver too is at a do or die point.
Every day I wake up, Bitcoin $BCOIN doubles.
I am not sure what it means, but at the macro level, The US Dollar, Gold, Silver, Bitcoins, Trust, government and Cyprus are all connected. Technology is a wildcard at the moment which is why Bitcoin is acting uncorrelated.