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Ending or Extending?


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#1 senorBS

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Posted 25 April 2017 - 08:49 AM

that's the key here as GDXJ has just taken out the March low at 32.66. The huge Q is whether we are now close to ending a large ABC decline from  a 5-wave rally from Dec. to Feb? or if we are heading down to that Dec low. I lean to the idea we are ending a correction but will wait for evidence. I also think the GDX/HUI/XAU won't take out their early March lows and will soon bottom. KLDX's .618 retracement is at 3.39 which "so far" is today's low. I am about 18% long and watching closely for signs of a possible bottom here

 

BSing away

 

Senor



#2 goldfungus

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Posted 25 April 2017 - 10:12 AM

that's the key here as GDXJ has just taken out the March low at 32.66. The huge Q is whether we are now close to ending a large ABC decline from  a 5-wave rally from Dec. to Feb? or if we are heading down to that Dec low. I lean to the idea we are ending a correction but will wait for evidence. I also think the GDX/HUI/XAU won't take out their early March lows and will soon bottom. KLDX's .618 retracement is at 3.39 which "so far" is today's low. I am about 18% long and watching closely for signs of a possible bottom here

 

BSing away

 

Senor

Hopefully ending. If the metal itself can stay above 1235 I think we're good. If not… 



#3 AChartist

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Posted 25 April 2017 - 10:14 AM

I was just going to say yesterday this is the 2 of 3 won't meet a margin call but sell other things

"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan


#4 dougie

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Posted 25 April 2017 - 11:59 AM

Concur. This could be the final wash out

#5 Russ

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Posted 25 April 2017 - 12:19 PM

XAU has a supporting trendline going back to the start of 2016 that is so far holding and if it breaks out of the top of that huge wedge a huge rally should unfold up to the 140 area. I have a signal for xau to rally into July/August.


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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



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#6 senorBS

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Posted 25 April 2017 - 08:53 PM

interesting where a lot of stuff went today, I think we could know as early as tomorrows close whether this decline is finally ending in a big way or we go significantly lower

 

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#7 Smithy

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Posted 25 April 2017 - 10:04 PM

Hadik just sent out a freebie missive that "gold's drop into May is on track."



#8 dougie

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Posted 25 April 2017 - 11:06 PM

interesting where a lot of stuff went today, I think we could know as early as tomorrows close whether this decline is finally ending in a big way or we go significantly lower
 
Senor


Significant like Gdx 12-13?

#9 Russ

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Posted 26 April 2017 - 02:08 PM

nice test of the march low in the gold stock indices, bottom may be in.


"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"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/

#10 senorBS

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Posted 26 April 2017 - 07:50 PM

 

interesting where a lot of stuff went today, I think we could know as early as tomorrows close whether this decline is finally ending in a big way or we go significantly lower
 
Senor


Significant like Gdx 12-13?

 

in your dreams......giveup.gif

 

Senor