Gold's overall trend, revealed by trends of price, leverage, and time, are defined and discussed in the The Matrix for subscribers.
A necessary precursor to a sustainable rally in gold will be a bull phase in the precious metals composite (PMC). The PMC and its sub components is located in the precious metals flows table of the Matrix (line 74-77). I know the permabulls are screaming buy in early January, but it's still too risk to buy with the PMC in bear phase. It's been in bear phase for 23 weeks. BrST = 0.1 says the bear phase is slightly past its cyclical mean. In other words, the phase is aging. The light blue coloring says do not be surprised if the phase changes in the coming weeks. A red number says be ready for change. A bold red number says, wake up!, a change is coming.
A bold red number in CE LTCO (line 103) is one of the reason why we're watching gold in 2019. It's ready. Government shutdown, trade wars, the clown show in Washington, whatever the excuse, the cycle of time for confidence is 2.9. In other words, a change of confidence from bullish to bearish is coming because of TIME. Time drives all. Gold traders should be watching CE LTCO for timing purposes. The rally gains enormous fuel when LTCO transition from positive to negative. Don't listen to me, watch the Matrix.
Follow me on Twitter or facebook for further discussion.
Market-driven money flow, trend, and intermarket analysis is provided by an Insights key.