GOLD: The Next Parabolic Bubble?

We'll see.

If we do see a blow-off in price at some point soon, perhaps 3000 will hold as support, since that was a technical upside target within the confluence zone of two major long-term Fibonacci levels, as per my post of December 6, 2022.

GOLD finally hit 3000 on March 11 of this year, for a gain of 68% -- and has nearly reached 3500 -- as shown on the following monthly chart.

P.S. Price briefly pierced through 3500 on April 22 before dropping back below during intraday trading.

GOLD Monthly chart

* UPDATE October 24...

So, 3000 held...and GOLD has been on an upward tear ever since.

As noted on the following monthly chart, it nearly hit 4400, where there has been some profit taking.

Barring any major negative global influences, there is no overhead technical resistance to stop its climb towards 5000.

GOLD Monthly chart

* UPDATE January 26, 2026...

No bubble burst yet...GOLD is still on a tear as it crossed above 5000 late last week, as shown on the following monthly chart.

There is no overhead resistance to stop this unprecedented massive accumulation, so, we'll see if it reaches its next big round number of 6000.

The most recent support level is 4400, denoted on the following daily chart. If 5000 is broken and held to the downside, we may see a retest of 4400 at some point, or somewhere around 4700.

Otherwise, momentum is with the bulls.

GOLD Monthly chart

GOLD Daily chart

SOFTBANK: Boom Or Bust?

In 2022, I posted several articles on SoftBank's (SFTBY) reckless business investments and failures, which can be found at this link.

I'm not convinced that their new AI partnership with "Stargate" members will prove to be any more profitable for them than those, which were not...or that their investment will be any more wise than the others, which were not.

Time will tell.

Source: ZeroHedge

This venture may be SoftBank's biggest black hole investment yet..."no clear goal, no timeline, and no real way to measure it" also means no transparency...buyer beware.

Source: Slope of Hope

Overlayed on the following monthly chart of SFTBY are a number of technical drawings depicting a long-range rising channel, a "chaos zone," and a "froth zone."

The current price is currently trading in the upper portion of the "froth zone" and is at the top of the channel.

Failure of price to rise and hold above the upper levels of the "froth zone" and channel at 35.00 could see some volatile swings in either direction within this zone, until it becomes clearer to investors as to the viability and sustainability of SoftBank's latest capital venture, described above.

* UPDATE February 12...

The following X post is not good news for SoftBank.

As I write this update at 1:18 pm ET, SFTBY is trading at 30.76, down from 33.90 since January 23.

It seems that others are also concerned over SoftBank's investment decisions.

* UPDATE July 22...

Unless this AI partnership can withstand decades of heavy financial losses before any profits more than cover them, if ever, I'd say that SoftBank's investment is on the way to BUST.

Source: ZeroHedge

Source: ZeroHedge

"Klepto" Cryptomania Crashes

* See UPDATES below...

If market players ( e.g., SoftBank, BlackRock, and many others) were addicted to insane risk, they would have invested in crypto currencies and exchanges...which are in absolute freefall today.

It's just a matter of time before these klepto ponzi schemes hit rock bottom...what a hot mess!

Source: ZeroHedge

ZeroHedge excerpt

ZeroHedge excerpt

Link to tweet

N.B. ⬆️⬆️⬆️

Link to tweet thread

Link to tweets

FTX Token (FTT/USD)

* UPDATE Nov. 9...

Things could get very ugly for FTX's Sam Bankman-Fried...what about facing an investigation for fraud, for one thing...

WBD: Another Parabolic Stock Bites The Dust

Warner Brothers Discovery, Inc. (WBD) hit a record high of 78.14 in March 2021, following a parabolic spike that began in November 2020, as shown on the following monthly chart.

It's since plunged, as is characteristic of these parabolic moves, and, as of early Friday afternoon, is trading at 10.49...a drop of 85.39%.

I don't see any evidence in its price action that it will recover any time soon, particularly since one of its subsidiaries is CNN, whose ratings are consistently well below its rival cable TV news outlets, and where a number of prime time TV hosts have, reportedly, been fired recently, as a result.

META: Tech-Wreck's Leader Of The Pack

* See UPDATES below...

The following one-year charts and year-to-date percentages gained/lost graph show how much the 10 Technology stocks within the FNGU ETF have dropped during those periods.

META (Facebook) has lost the most, percentage-wise (70.51%), so far this year, followed by:

• NVDA (52.93%),
• NFLX (50.91),
• BIDU (47.21%),
• BABA (46.34%),
• AMZN (37.97%),
• TSLA (35.13%),
• GOOGL (33.53%),
• MSFT (29.41%), and 
• AAPL (11.93%).

FNGU has, itself, lost 87.05% this year.

Further weakness in META could drag these stocks lower...one to watch...along with the VXN:NDX ratio, as described in my post of October 18.

One-year Daily Charts

Year-to-date Percentages Gained/Lost graph

META has been running in circles...and is back in 2016 territory...

P.S. Is AMZN next? Note the parabolic rise...usually followed by a similar plunge.

* UPDATE Oct. 31...

Oh my! 😲

No wonder the Biden administration does NOT want Republicans taking control of the House and Senate in the midterm elections...who will, surely, add this to their growing list of intended investigations!

Source: ZeroHedge

Link to tweets

* UPDATE Nov. 1...

Some interesting statistics...(N.B. TWTR was delisted from the NYSE on November 28, since it was privatized, following its sale to Elon Musk)...

* UPDATE Nov. 4...

Who wouldn't like to a fly on the wall during these upcoming depositions?

Things should get "interesting" as Americans finally get the transparency, to which they are fully entitled.

Source: ZeroHedge

* UPDATE Nov. 6...

With META reportedly poised to announce thousands of job layoffs sometime this week, it should be a wild week in markets with all eyes on Tuesday's midterm election results...isn't it interesting that they're waiting until after that to announce! 🤔

Source: ZeroHedge

ZeroHedge excerpt

ZeroHedge excerpt

* UPDATE Dec. 3...

More information on Elon Musk, his private purchase of Twitter, and his actions to make public Twitter's shocking suppression of free speech under its former executives and employees can be found here.