TSX Venture Exchange and Gold
The Venture’s 2015 December uptrend began on the same day that the Fed hiked interest rates for the first time in nearly a decade. On Wednesday, the Fed is widely expected to increase rates by another quarter point, and it’s reasonable to expect the Venture (and probably Gold) to respond positively again once that news is out of the way. Janet Yellen, who has dovish instincts, will also be holding her first news conference since July after this meeting, and may use the opportunity to balance off the rate hike with some cautious language entering 2017.
In comparing trading activity last year to this year, it’s obvious the Venture is now in much healthier shape. In December 2015, the Index was in the last gasp of a prolonged bear market and declined in 10 out of the first 11 sessions that month leading into the Fed decision. This year, the Index has posted 4 winning sessions out of 7 in December and there’s ample technical evidence to suggest that the Venture’s correction from its August 848 high ended November 14 at 717.
History is clearly on the side of the “BARGAIN HUNTERS” right now as the Venture has not only entered its best period of seasonal strength on the calendar, but the second leg of its bull market is now in its early stages.
As for Gold, we’re looking for a very specific signal in the coming days that could make investors a lot of money…
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