Originally Posted by
Harry
Hi Mike,
When you get a free moment, curious if you would update us on your thoughts regarding gold and the recent Coppock signal?
Best Regards,
Harry
The last real monthly Coppock signal on GLD was in mid 2001. We are making a close pass now but still in the positive half plane. Coppock buy signals are more valid when the Coppock goes negative first but this close pass may be okay. Note that we are early in Frebruary and the last value used is today's GLD value and not month end. So the flattening out shown on the curve is not a near-buy signal and can't be until month end price occurs.
The weekly Coppock has signaled. This may be enough to enable a rally for at least a while. You can see four buy signals on this chart, the first three seem to signal reasonable buy points. We will see if the current buy signal works.
Mike Scott
Cloverdale, CA
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