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Mohammed Rajabi
Sep 30, 2023 4:37PM ET
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Gold, Silver: Single Digit Daily Sentiment Index Signals Bottom Is Close
www.investing.com/analysis/gold-silver-single-digit-daily-sentiment-index-signals-bottom-is-close-200642221
Gold, Silver: Single Digit Daily Sentiment Index Signals Bottom Is Close
By Doug Eberhardt | Sep 28, 2023 12:38AM ET One last flush here in metals and the bottom is in.
DSI (Daily Sentiment Index) as of yesterday’s close is as follows:
- 91 Dollar Index
- 9 Euro
- 7 Swiss Franc
- 10 Yen
- 12 British Pound
- 31 Bitcoin
- 80 Crude Light
- 15 Nat Gas
- 13 T-Bonds
- 15 T-Notes
- 40 S&P Index
- 38 Nasdaq
- 21 Volatility
- 10 Gold
- 11 Silver
Anyone practicing extreme patience it seems we are setting up for the perfect storm in many asset classes. One last flush can do it.
Banks can push things to extremes anytime they want. When sentiment is in the dumps, as @AviGilburt says, buy, buy, buy. We are close. But we have been close for years it seems. As I always say, holders of physical should dollar cost average into a position deemed as “insurance” versus what could be the biggest move down in the dollar ever.
The only thing that is missing is a lack of faith in the Fed. It’s been 15 years and 7 days since I wrote my article back when I knew half as much as I know now. Or something like that.
The Fed Is Relevant - For Now
The Fed of course is still relevant. They have kept the game going longer than any pundit who writes about gold could ever imagine. And many who are older know that many were thinking the dollar would crash since the 80s (if not 70s as I’ll have to ask my 89-year-old Dad when he would hand me copies of The Reaper by R.E. McMaster.
It’s been an amazing run for the Fed. Their next move will be to lower rates. The damage of their policies is unknown for now as the dollar is still “perceived” to be the best of the bunch as Daily Sentiment again hits the 90s. The average investor has one last chance to get out of stocks (double top area) on this next move up before Fed policy finally catches up with the reality of “everything crashes” and the insurance of gold and silver rises to the top in 70’s style fashion. The sideshow of politics and the belief that printing more money to pay for things will continue to support the massive size that the government has become. Very few will be prepared. Very few have insurance.
As an investor, I don’t care what the market does. I will profit from it. But most won’t navigate the ups and downs of a real bear market. This current move down in the stock market is just a taste of what’s to come.
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Gold, Silver: Single Digit Daily Sentiment Index Signals Bottom Is Close
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