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bottoming action for the start of a big rally


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#501 stubaby

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Posted 11 October 2018 - 10:30 AM

dharma:

 

My count has us in Wave 3 of C of 4 of C of 2 - could finish up C of 4 tomorrow and set the stage for the final Wave 5 of C down to complete 2, all IMHO.  Today's strength is what you would expect for a C Wave finish to a major countertrend Wave 4, FWIW

 

stu

 

Note: First complete 5 Wave-up off of yesterday morning's low could be only Wave 1 of C of 4  - which would give higher Wave 4 completion targets


Edited by stubaby, 11 October 2018 - 10:33 AM.

GOOD LUCK - the 'Galloping Gertie' syndrom about to hit the US and World Financial Markets over the next 2 Years - Batton down the hatches! Galloping Gertie - Public StockCharts List

#502 dharma

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Posted 11 October 2018 - 11:25 AM

dharma:

 

My count has us in Wave 3 of C of 4 of C of 2 - could finish up C of 4 tomorrow and set the stage for the final Wave 5 of C down to complete 2, all IMHO.  Today's strength is what you would expect for a C Wave finish to a major countertrend Wave 4, FWIW

 

stu

 

Note: First complete 5 Wave-up off of yesterday morning's low could be only Wave 1 of C of 4  - which would give higher Wave 4 completion targets

@this point definitely a possibility. its why i mention helio merc in sag. .  strong trend for gold  BUT close  above 1226 and i turn bullish. 

thanks for your input stu

dharma



#503 SemiBizz

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Posted 11 October 2018 - 11:28 AM

$XAU Up 3.24 on day...

 

Earlier Tweet:

 

 

$XAU - GOLD STOCKS - GAME ON now as long as 67.00 $XAU holds... 67.32 - when this rallies, it is DIRECTIONAL, and leaps 3-4 pts in a day !

 


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics


#504 dharma

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Posted 11 October 2018 - 02:13 PM

yesterday and today are not crashes , they are substantial moves down. which usually sees the miners thrown out w/the broad market

well today gdx +6.44% xau+6.67% HUI=+7.23%  starting to be convincing.  especially when you consider the large short position held by the large specs

oh yeah gold +30    how does a market w/record # of shorts respond.to a move against them.??????  we will find out. 

dharma


Edited by dharma, 11 October 2018 - 02:19 PM.


#505 dougie

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Posted 11 October 2018 - 11:34 PM

dharma:

 

My count has us in Wave 3 of C of 4 of C of 2 - could finish up C of 4 tomorrow and set the stage for the final Wave 5 of C down to complete 2, all IMHO.  Today's strength is what you would expect for a C Wave finish to a major countertrend Wave 4, FWIW

 

stu

 

Note: First complete 5 Wave-up off of yesterday morning's low could be only Wave 1 of C of 4  - which would give higher Wave 4 completion targets

what would dchange your mind Stu about a more bullish count?



#506 stubaby

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Posted 12 October 2018 - 07:36 AM

 

dharma:

 

My count has us in Wave 3 of C of 4 of C of 2 - could finish up C of 4 tomorrow and set the stage for the final Wave 5 of C down to complete 2, all IMHO.  Today's strength is what you would expect for a C Wave finish to a major countertrend Wave 4, FWIW

 

stu

 

Note: First complete 5 Wave-up off of yesterday morning's low could be only Wave 1 of C of 4  - which would give higher Wave 4 completion targets

what would dchange your mind Stu about a more bullish count?

 

dougie:

 

I would think an overlap with the Wave 1 down in each index, for example for HUI its' 168.45, XAU 76.80, etc


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#507 dharma

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Posted 12 October 2018 - 10:59 AM

THE INVERSE H&S on the gdx  w/yesterdays action got way above the neckline

 so its a bullish confirmation

the volatility today in the broad market is something to behold 200pt swings in both directions

there is a 2yr cycle which has been prominent in the broad market  so this could very well last into november

the fear is rising rates=inflation

so i wonder if this inflationary fear is having a different effect then the deflationary crashes of the more recent past? thinking out loud here

yesterdays volume exceeded any on the big volume days on the down side

i studied wykoff decades ago and am far from being an expert. 

i am waiting to add more to my positions

dharma



#508 dharma

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Posted 12 October 2018 - 02:41 PM

cots

http://news.goldseek.../1539372338.php

wow! i thought last weeks was extreme !

this week as of tuesday the large specs are short more gold then the netherlands holds as the 12 largest holder of gold

the commercials accomodated the specs and reduced their short positions , thus making them more long

for gold these are the most bullish cots i can remember

silver

the commercials are back long  the large specs are significantly short silver

dollar

is a wow also the large specs are  almost 5x long the dollar   while the sharks are about 20x short the dollar

 

folks this is a major indication here w/these cots . now keep in mind the metals had a major move thursday, so i strongly doubt  the cots are this extreme but i believe they are still very extreme 618 tons short are the large specs

its only just beginning. 

dharma



#509 senorBS

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Posted 12 October 2018 - 03:09 PM

cots

http://news.goldseek.../1539372338.php

wow! i thought last weeks was extreme !

this week as of tuesday the large specs are short more gold then the netherlands holds as the 12 largest holder of gold

the commercials accomodated the specs and reduced their short positions , thus making them more long

for gold these are the most bullish cots i can remember

silver

the commercials are back long  the large specs are significantly short silver

dollar

is a wow also the large specs are  almost 5x long the dollar   while the sharks are about 20x short the dollar

 

folks this is a major indication here w/these cots . now keep in mind the metals had a major move thursday, so i strongly doubt  the cots are this extreme but i believe they are still very extreme 618 tons short are the large specs

its only just beginning. 

dharma

excellent COT report, liked todays trading with the early significant pullback and rally back to the area of unchanged after yesterday's massive high volume rally - looked like "character change" action to me, need to see more for higher confidence but a great week!yes.gif 

 

Senor



#510 Smithy

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Posted 12 October 2018 - 06:29 PM

The spot gold chart gives a Triangle Target of $1268.

 

Here's the more conservative PM fix.

 

10-12-18-PM-fixes.jpg