is about a week rally to bring the macd up and then a final selloff where it goes to a new low or close to a new low and the macd holds at a higher level.
no bottom imo until we get that
what gld needs to bottom imo
Started by
gannman
, Dec 05 2016 05:56 PM
3 replies to this topic
#1
gannman
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Posted 05 December 2016 - 05:56 PM
feeling mellow with the yellow metal
#2
risk_management
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Posted 05 December 2016 - 06:28 PM
GLD is still trading in lock step with Yen and somewhat ignoring entire dollar index. I see bullish argument that was posted here but I'd like to see Yen approach 116 before I jump in.
#3
Russ
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Posted 06 December 2016 - 12:49 AM
GLD is still trading in lock step with Yen and somewhat ignoring entire dollar index. I see bullish argument that was posted here but I'd like to see Yen approach 116 before I jump in.
Looks like a double top is happening on the USD/JPY chart. 5 hour chart shows it well... http://www.investing...rencies/usd-jpy
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"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#4
AChartist
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Tim
Posted 08 December 2016 - 10:34 PM
the ideal gold low could be at 6 weeks with next 8 week low.
right now the 59 week low is hitting over the next couple weeks with the 8 week peak right there too.
maybe the 8 week peak period will cushion the blow but at least at 6 weeks everything should be
up. And that is also when stocks are most likely to decline in about 8 weeks.
no cycle will replicate previous behaviors, and the 59 week low hit twice so this might be the alternating
cycle that the 59 week low doesnt produce much. Bitcoin also on a tear.
Edited by AChartist, 08 December 2016 - 10:36 PM.
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