78 replies to this topic

[dharma]

wave 3 projects to be quite large , based on the size of wave 1
dharma
waiting still

[senorBS]

wave 3 projects to be quite large , based on the size of wave 1
dharma
waiting still

IF it is a wave 3 and not a post tri thrust - that is simply the HUGE question as it helps us determine HOW we bottom. IMO we are either pretty much done (the el surpriso count) or we do subdivide lower. Also note that today's GDX/HUI bounce if it holds will show daily bullish RSI divergences on this new low vs the Sep 1 lows - that can often be bottoming/ending action. No guarantees but death and taxes and Trump will say something stupid every week. lol

 

Senor

Edited by senorBS, 05 October 2016 - 02:18 PM.

[dharma]

wave 3 projects to be quite large , based on the size of wave 1
dharma
waiting still

IF it is a wave 3 and not a post tri thrust - that is simply the HUGE question as it helps us determine HOW we bottom. IMO we are either pretty much done (the el surpriso count) or we do subdivide lower. Also note that today's GDX/HUI bounce if it holds will show daily bullish RSI divergences on this new low vs the Sep 1 lows - that can often be bottoming/ending action. No guarantees but death and taxes and Trump will say something stupid every week. lol
 
Senor

yes, that is a good point we have gone lower here than the sept 1 lows and have higher rsi readings presenting divergences and interesting possibility
dharma

[dougie]

could be. no one beleives we went UP in three waves and this is now a % move impulse lower to finsih off the bear?

[gannman]

i like the second count. A was 66 in the hui . if C = A that would bring us down to about 184 on the hui fwiw which would be a little bit further than a 50 % correction of the whole 184 point move 

 

a possibility. 

[senorBS]

gold is extremely oversold, in fact 12 hr RSI hit the lowest level of the year on this recent decline, and at the 1262 print low we do have what looks like a bullish divergence against the RSI extreme low hit when gold first reached 1266. Last 3 days DSI bullish percent were 9% Bulls Monday, 5% yesterday and 8% today. My guess is worst case we should see a bounce/sideways consolidation here.we see

 

Senor

[dougie]

you buying yet Senor? 

[stubaby]

Thanks senor - looks to my eyes as yesterday was iv of 3 and today will be v to finish 3, then a larger wave 4 before the final 5, FWIW

[jabat]

Target for Gold appears to be 1245 to 1250.

[senorBS]

you buying yet Senor? 

I could not resist buying a SMALL initial GDX position on the opening at 22.78, again this is very small

 

BSing away

 

Senor