Has GOLD begun a new bull market? BITCOIN struggling at 7700 resistance (as called). Can it break through? And, what next for the juiced up DOW JONES!

Good afternoon my Steemian friends. As I write after the close this Thursday, lets look first a Bitcoin. What else is there to say but see the chart. Something will give.

With SENTIMENT 4:1 speculators long, the best BTC can do is what it's doing! I admire the attempt, but have called this market "spot on". I have to shake my head at all the pundits (one posting 8 times a day!) projecting incorrectly every next 150 points in BTC, with one wave count contradicting another. You get the idea. It is not that complicated IF you understand market sentiment and where support and resistance lie. I choose here to keep it simple. I am hoping BTC can stay between 7100 and about 7800 for a while and build up some bullish sentiment. i.e. people just giving up! Some believe BTC MUST visit 6000 and a lot lower for BTC gain the FEAR necessary to build that proverbial "wall of worry". I don't really disagree. But failed attempts above 7700 can do it. I do not see 11,600 next week as many have called since early May when we said SELL at 9750.

GOLD: See the graphic below by Peter Stoeferle of Incrementum AG Lichtenstein. He is one of the foremost authorities on the precious metal markets. I am in full agreement that it has. Frustrated holders of gold and silver need to remember the we saw 1050 gold less than two years ago! All this in the face of a dollar holding up well, decent equity markets, inflation under control..(it really isn't), etc. etc.

See the 10 year chart below courtesy of the great Clive Maund, then the seasonal chart for the dollar, and the seasonal for gold. Seasonal charts can be "iffy" for obvious reasons. But the odds favor heavily they will influence these market convincingly.

The Dow Jones: The Trump bull market is over. Yes we stated that at the top in January over 26,000. The Plunge Protection team using smoke and mirrors will keep it propped up (they hope) through elections. Remember we said buy at 23,500 in April! The FED has lost control. You are not being told the truth about inflation, and financial crisis are about to unfold. WATCH ITALY. The dollar will be in sharp decline, even with rising rates here. CHINA dictates trade as they hold our debt and can to serious damage in retaliation to our HUGE mistake called tariffs. Tariffs are inflationary and never work in the long run. So, sell further strength in the Dow and place new investment dollars in Gold and Silver. Things should get very interesting quite soon.

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