Member
Posted 17 July 2018 - 12:33 PM
Yes I see old rogerdodger's post now. This looks like an important turn, look at Newmont's chart....
russ saw that, roger also posted it earlier this am.
not sure of what to make of it. mistake? real? accumulation
every day , open interest increases about 2% suggesting that the large specs continue to pile on shorts.
watching and waiting
dharma
Member
Posted 17 July 2018 - 12:53 PM
Barrick has not taken out it's june low, positive divergence to the gold price...
Member
Posted 17 July 2018 - 01:06 PM
5 min nugt chart shows large accumulation over several bars...
Member
Posted 17 July 2018 - 01:31 PM
another HUI stock also showing divergence...
Member
Posted 17 July 2018 - 02:01 PM
nice study russ , i was looking at iau, ng ,gg(outside day) miners appear to be under accumulation
all is not as it seems here
also 1229 starts a cycle so the whole cycle was retraced.
1213 ends the last price cycle
so while the market is going down, it has fallen into strong support
and the miners appear to be under accumulation w/a very high volume bar in nugt as well
dharma
Member
Posted 17 July 2018 - 02:13 PM
Yes, should be a rally coming going into Aug/Sept, I am long the gold stocks.
nice study russ , i was looking at iau, ng ,gg(outside day) miners appear to be under accumulation
all is not as it seems here
also 1229 starts a cycle so the whole cycle was retraced.
1213 ends the last price cycle
so while the market is going down, it has fallen into strong support
and the miners appear to be under accumulation w/a very high volume bar in nugt as well
dharma
Member
Posted 17 July 2018 - 02:56 PM
Also looks like some divergence in the a/d volume, won't see today's sum til later though ...
nice study russ , i was looking at iau, ng ,gg(outside day) miners appear to be under accumulation
all is not as it seems here
also 1229 starts a cycle so the whole cycle was retraced.
1213 ends the last price cycle
so while the market is going down, it has fallen into strong support
and the miners appear to be under accumulation w/a very high volume bar in nugt as well
dharma
Member
Posted 17 July 2018 - 03:21 PM
back in the 70s when i started , sinclair said the big money buys the miners first , then they buy the metal. in quite a few issues i see these footprints in todays action and the action of the last several days where open interest expanded , ie large specs opening new short positions.
price wise we have corrected this whole price cycle from 1341 -1229
now obviously we have to see the market dig in and resist decline. there are many cosmic influences coming into the markets thus hadiks chose 18-25 i am not going to catch falling knives here. but i am on alert. a change in trend is coming. evidence is there. the trading graveyards are full of guys who tried to catch the bottom
dharma
Volume Dynamics Specialist
Posted 18 July 2018 - 09:05 AM
2 things working here... first of all you can see the low was broken on HOURLY VOLUME, that is on the above chart and in the local context...
The Previous Low was made in the middle of the night on 7/2... and that was on no volume at all...
It hit the support on lighter volume and exploded higher when the volume came in the regular session...
That was an ENGINEERED LOW...
This one here BROKE that BENCHMARK ON BLOWOUT VOLUME...
This is engineered to fail.
And this last low at our target this morning came when? 3 am.
Time for a bounce, but if it fails and we get a new low this morning that will be a BREAK ON VOLUME...
So might be wise to have a stop under this low we made this morning at 1220.9.
Otherwise, it looks to be an ENGINEERED LOW...
Edited by SemiBizz, 18 July 2018 - 09:06 AM.
Member
Posted 18 July 2018 - 10:29 AM
Cdelangley-
Micro-counting gold's C wave. This wave 5 of C looks like it started off with a 1-2, 1-2, so that's why I can really see OML after today before a bottom. It's easy to be off by 1 wave on micro-counts though, so take it at face value. Positive divergences on every timeframe
