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Gold: Does Hollywood Foretell 'Sell' Signals?

Published 01/21/2014, 01:22 PM
Updated 07/09/2023, 06:31 AM

The Dow And Gold

Four of the key highs in the Dow since 1987 have taken place at about the same time that Hollywood has released a movie about Wall Street (left chart) above. So up until now it has paid to harvest long holding in the Dow when a new Wall Street movie is released. Will its timing be different this time around?

When Gold was trading at $1,600, the Power of the Patterns target was $1,900 (See gold target here). At the time Gold was hitting the target, SPDR Gold Trust (GLD) became the largest ETF in the world and physical holdings in GLD were hitting all-time highs.

Does Hollywood help us with sell signals on the Dow and the crowd help us with buy/sell decisions on Gold? The lower right chart from shortsideoflong.com reflects dumping of physical holdings by the ETF are taking place as a key support line is coming into play in Gold. 

Let Hollywood and society be your investment friend or guide? You be the judge! 

Latest comments

The hollywood indicator. thx. I did see Schartznegger doing a ping pong commercial on tv this weekend. Must be a sign
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