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wave 3??!!


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#11 dharma

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Posted 03 May 2017 - 10:22 AM

the s&r #s are based on the 252 low in gold - a gann technique. he thought old significant lows and highs were like the full moon pushing and pulling on the tides.  i believe the 1245 area will provide enough support to  stem the decline.  if not 1229 the start of this price cycle is underneath. the indian festival ended , along w/war threats that pushed gold into resistance. the threats have subsided and the indian festival ended. and the selling began.  silver is way oversold . it now has hourly divergences . i am waiting to see if they hold.    the miners are of great interest to me @ these levels

 

in the world 2 major developments have occurred overnight:

1 india has entered into the digital gold world http://economictimes...ow/58480679.cms so there is competition for bit coin. another crypto currency  if this gains in popularity it can be a game changer

 

2http://www.arabianbu...ncy-672673.html    there are more than 2billion muslims world wide and one gram is seen as a sharia compliant method for them to keep gold in a digital format that is both secure and digitally transferable,including across borders,at the same time. this is huge.  i believe that dubai will be the center of gold trading worldwide.  comex and lbma will be relegated to a 2ndard role. 

 

stay tuned the bull era infrastructure is being put in place.  all of this takes time  w/gold falling  from the 1290s to 1245  w/silver and the miners getting crushed , it seems like the end of the world for the western gold bugs.   well its not. 

dharma



#12 Russ

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Posted 03 May 2017 - 11:32 AM

Interesting stuff Dharma,

 

 

Today's action has the feeling of an exhaustion gap with nice doji star on some of the gold  charts (1 hr and 5 hr) https://www.investin...ommodities/gold, I am looking at buying nugt again.


Edited by Russ, 03 May 2017 - 11:34 AM.

"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



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#13 dharma

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Posted 03 May 2017 - 12:02 PM

Interesting stuff Dharma,

 

 

Today's action has the feeling of an exhaustion gap with nice doji star on some of the gold  charts (1 hr and 5 hr) https://www.investin...ommodities/gold, I am looking at buying nugt again.

agree w/you russ on the downside being exhausted.  i want a little more proof. now kldx looks like a buy to me so does slv , but that is a little more tentative. 

by the way the gold/silver ratio is very elastic.  buying or selling based on the extremes in ratio is fools gold imo .  folks for the longest time were stuck on 16:1   again to my knowledge no cb holds silver as a reserve. they do almost all hold gold. . and that is my problem w/silver . when all the speculators want out  the door will not be wide enough. of course the greater fool theory is in play.  i do think we get well above the 50 highs in silver , but after that its musical chairs. so if you are sure that you are faster and smarter than the next guy. good luck. the hunts sure werent !

dharma



#14 dougie

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Posted 03 May 2017 - 02:02 PM

 

If A=C in this count then we go much lower to support at 14.93.

Note we could have a C=.382 A and be done right here.

I favor the former. But will be watching for a move that hints of a 3



#15 Russ

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Posted 03 May 2017 - 02:23 PM

I mentioned before that there is a trend going into May 15-16 for a low on gdx, so that would fit with Dougie's count. A double bottom for today seems to be being breached as I write this.


"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/

#16 dharma

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Posted 03 May 2017 - 02:42 PM

i dont have anything in the mid month time frame, which isnt to say it cant happen , but i dont see anything then

w/ the bradley sunday and friday i do see astro stuff to cause a bottom by may 5 . as always we shall see.  

the market looks really weak  there is no bounce  miners/silver keep pressing the lows.  take 1245 out convincingly and 1229-1220 comes into play

the fed is not about to rock the boat, in spite of all the talk and rhetoric  the economy appears fragile. as does the pm sector. watching oil here it appears to be in a similar place as the metals . groping for a bottom.  

all the talk of the reagan era. the trump era is totally different . the debt was much more manageable back then we were coming out of recession , here we appear about to head into recession. the cycle here is long in the took w/09 being the low.  i dont remember the trickle down days of ronnie being similar to today, maybe that is just me!? 

dharma



#17 gannman

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Posted 03 May 2017 - 04:10 PM

i like a bottom on the 5th at least in the stocks the metals might take a little longer


feeling mellow with the yellow metal


#18 dougie

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Posted 03 May 2017 - 07:01 PM

UGLY is all i can say



#19 senorBS

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Posted 03 May 2017 - 07:04 PM

UGLY is all i can say

I don't know if we are bottoming or not but I don't know I have ever seen a good bottom that was not UGLY



#20 dougie

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Posted 03 May 2017 - 07:56 PM

good bottoms are never ugly...<;