He looked for opportunity and ended up apprenticing under David Johnston, who was Chairman of the Comex. Instead of focusing on price, he looks at long-term trends, which is important because price being based in fiat can be misleading. He says, "Today, we are in the hyper-space of money printing."
Using price can be compared to building a house with a yard-stick that changes in length. Their focus is on the longer-term and not the day to day, they look for structure rather than short moves in momentum.
Long-term momentum can enable an investor to see the pattern before it shows up in the price chart. He provides us with some of their charts for gold and silver that demonstrate these advantages.
Currently, momentum charts are looking very bullish for gold and the larger view shows that we are nowhere near being overbought. He doesn't believe the markets are going up for much longer, as often a bear trend can take a few months to settle in, which is likely what we will see.
He compares today's markets with the Nasdaq crash that started in 2000. Michael sees clear signs that Fed Chair Powell is in complete panic.
- Source, Palisade Radio
