44 replies to this topic

[senorBS]

I can make a case that new highs in the GDX/XAU/GDXJ could complete a very nice 5-wave advance from the Dec lows. So perhaps we get 5 up here and then get a several day correction which would be "ideal". However, the alternate scenario would be we just keep chugging higher. If we get the 5 up then it only adds to the odds that a very key low has been registered and to add on a dip. We see

 

Pure BS

 

Senor

[tradesurfer]

Well I guess Armstrong will have egg on his face then.

The thing is even if we were to go down to 900 this is "only" a lousy 250 gold points which is nothing compared to long term upside near 5000

[jabat]

Senior,

 

 Quad G is thinking in the same line as you regarding the completion of 5 ways:

 

Quad G Wednesday 4th of January 2017 06:54:08 AM

Hey All,

Update on GDXJ:

I am looking for another move up this week to mid 36 to 38ish to finish a 5 wave impulse off the bottom at 27.37. mid 36 to 38 encompasses a cluster of resistances including a MT downtrend line tested a third time and the upper daily bollinger band. The QG3 is also very close to making a bullish alignment. 

Once the 5th wave up is finished, we could see a multi-day correction that could come back to fill a gap down at 28.62.

If this current move up produces a 5 wave impulse that can take out the last swing high at 36.52 then I can not say strongly enough: Buy the dips.

 

 

https://www.tradingv...com/x/t3KiKuYb/

[dougie]

I dont see 26.52 on stockcharts

Dec high was 34.68

[senorBS]

Well I guess Armstrong will have egg on his face then.

The thing is even if we were to go down to 900 this is "only" a lousy 250 gold points which is nothing compared to long term upside near 5000

ya know we all can be and are wrong frequently enough, but my impression of Armstrong he makes longer term forecasts and gets married to them and does not seem very flexible about changing. I call that working from the "outside in", I do look at the longer term charts for "trend and wave" perspective but as far as forcasting and trading goes I like to work from the inside/out, look at the 1-12 hr and daily charts and figure it out from there. At least that works for me, my dos centavos

 

Senor

[dougie]

I dont see 26.52 on stockcharts

Dec high was 34.68

meant 36.52

[Russ]

One of the last things Armstrong wrote publicly ( non subscriber stuff) is that Gold has found support.

 

Remember that when many people on this forum last summer were saying watch the sky, Armstrong was warning that Gold had failed to take out his key number and was headed lower. Armstrong also called the high in the sp500 in 2016 to within 1 point at the start of 2016, he did not become famous for no reason.

 

He also stated the final low may not come until 2018 recently, maybe he will be right, that remains to be seen, for now the rally is happening. Gold up $9 to 1174 tonight as I type this.

[Russ]

How about Gold closing the post Trump-Gap around 1260? 

[AChartist]

hope this sticks tomorrow, will look to leverage up something,

 

a bit delayed but webbot may be right on the metals following when bitcoin crosses 1000.

 

To be seen or not is his series of shocking air gaps up in silver. I hope trump has a plan for

 

constitutional money that would do it, speculation, hope. But what we know about that is silver

 

will be $125 before they tell you.

[gannman]

i am with senor here things are showing sings of strength if we can turn the 30 dema up that would be very good