305 replies to this topic

[senorBS]

Uno more thing, what really is glaring for me today is that stock market is down about 90-100 pts and interest rates (10 and 30 yr) are up strongly and near the highs, Grande Question is whether this is a one-day event or something muy, muy importante has changed in this relationship. I gots lots of questiosn and no bueno answers. Senor

[dougie]

liquidity going south?

[fluid]

liquidity going south?

????

[stubaby]

Gold needs to hold 1,627.50 or this count is "out the window":

http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&yr=1&mn=0&dy=0&i=p75242258115&a=261688870&r=1333486213569.png

Which brings me back to my "old" Primary Count - Wave E's of Triangles often end above the A-C trendline, which should 1,627.50 fail we could drop into the +- 1,615 range before reversing (1,614.20):

http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&yr=1&mn=0&dy=0&i=p49025934344&a=259871946&r=1333485757281.png

That sure would turn even more bearish and clear-out more stop-losses!

Interesting times for sure - when the FED Minutes (watch what they do not what they say), has such a knee-jerk reaction.


stubaby


Note: below 1,550 and both these counts will be gone and I'll have to revive an old "outlier count" chart

[stubaby]

Uno more thing, what really is glaring for me today is that stock market is down about 90-100 pts and interest rates (10 and 30 yr) are up strongly and near the highs, Grande Question is whether this is a one-day event or something muy, muy importante has changed in this relationship. I gots lots of questiosn and no bueno answers.

Senor

http://stockcharts.com/c-sc/sc?s=$TNX&p=D&b=5&g=0&i=p35512665340&a=217008586&r=379.png

http://stockcharts.com/c-sc/sc?s=$TYX&p=D&b=5&g=0&i=p47823187470&a=217008592&r=235.png

[johngeorge]

Any silver bulls out there? If so here is an End Of Day chart that may be a morale booster. It flashed a buy signal today targeting $36.44.

[johngeorge]

yes, it looks like the lows are not in.
what is interesting to me is the last couple of times burnack has spoken, gold has gotten taken to the woodshed!
dharma

FWIW I think what has happened is the market is interpreting the burnank as indicating no QE for the immediate future. That could be what pushed interest rates higher as well. Then again, what do I know?

[johngeorge]

http://jessescrossro...e.blogspot.com/

03 April 2012

Snip >>>>>

"Gold seems to be in a rather large symmetrical triangle which is normally a continuation pattern, in this case for the bull market. If it *works* the minimum measuring objective is somewhere north of $2100."

Snip <<<<<

[Ken]

Here are my rambling thoughts on the current state of precious metals. I'm 100% invested in a double leveraged silver ETF and I'm going to hold even though I'm a little in the red already. Raymond Merriman has Wed, April 4th as a critical reversal date for precious metals. We starting selling off yesterday afternoon (Tues, April 3rd) so perhaps April 4th will be the low for this critical reversal date. This Friday, April 6th the markets are closed for Good Friday but it's also a full moon and it appears the precious metals are declining into it. Next week from April 9th to April 19th heliocentric Mercury enters Sagittarius and in 65% of all cases that's very bullish for gold and silver. Of course, in 20% of all cases it's super bearish but the odds are in our favour. I also like the fact that silver seems to have strong support between $31.50 and $32.00. As long as that support area holds I'm going to remain long in my silver ETF. It's also my opinion that the precious metals held up reasonably well after the 2:00 PM Fed minutes announcement yesterday. The idea that the Federal Reserve is reconsidering the idea of QE3 should have destroyed gold and silver but the metals only fell about 2%. That's just an ordinary bad day. I'm going to remain long. I really hope I'm not wrong on this or I'm in for a potentially big loss. If silver can ever close above $34 it's bullish but if silver trades below $31.09 then it'll likely fall further over the next few weeks to a primary cycle low. Currently gold and silver are in the 14th week of the primary cycle as measured from the lows of Dec 29, 2011. Ken

[tradermama]

For Dorsey's pnf, gold needs to touch 1620 for a sell. Watch the period 4/6-20th..just a reminder since I've mentioned this a few times...80% it is bullish and 60% of that time it's a strong up. Silentone (John) which I hope he will share his thoughts said within a couple of weeks here he's looking for a major 4 1/2 cycle Hurst low. Today, GE was downgraded by I think I heard Moody's. Once downgrades start appearing again or we start concentrating on how we're going to pay for this debt then gold will get going again. QE is off the table they claim, but we all know unless the politicians put their bickering aside, (and that ain't gonna happen) there is not going to be a resolution on the debt crisis we face. Yes, this is going to be a roller coaster ride but that's where managing ones risk is important. That's why I like using pnf combined with TA. Only invest what you feel comfortable with...today Merriman had a turn date which was plus/minus 3 days..seems like it was yesterday..that the turn came. 4/13 is the next turn calendar Gann date. TM