Louise Yamada on BNN. Very interesting interview detailing the difficulties traders have analyzing current markets. You guessed it. It is those divergences. Volume not confirming price advance. Advance Decline line not confirming new highs and the list goes on. Louise Yamada mentions the fact there have been divergences at the beginning of this year’s run but the key sentence in the interview is that we are now ‘much later in the trend’.
No matter where prices are headed to, for now the easy money looks to be gone. That’s why I have been staying on the sidelines. I am looking to open a few positions but I will be very selective and am watching the action in gold very closely for clues.
Here is Louise Yamada’s interview. Thanks Peter!
http://watch.bnn.ca/#clip246112
Also check Louise’s much lengthier interview I posted a while back.
Have a great evening!