73 replies to this topic

[Smithy]

8/15/18  Spot 1180

 

Next Knife Catchers Anonymous trade for bloody hands and fingers is spot $1,115 +/- $10.

Don't do this at home, or without adult supervision.

[SemiBizz]

 

RUT ROH - 113 broke

 

111.50 next best support....

 

GLD

 

BYE BYE GOLD....

 

HERE WE GO 111.50 coming...

 

 

OK, no surprises... 111.50 BAGGED AND TAGGED... now this better bounce here or we're going down town into 110s pretty quick.

[SemiBizz]

GLD Consolidating 111.50

 

Possible retest of BREAKDOWN CANDLE HIGH 111.70

[SemiBizz]

Expecting short term bounce 1182-1186

 

Nothing huge... back to 119X

 

1181.70 on the December Contract...

 

and the bounce.

[Russ]

gold stocks are  diverging, going to lead gold higher. they tend to lead as you noted.

[SemiBizz]

Nope... DOWN ON HUMONGUOUS VOLUME...

 

The only thing you saw was a finish just over 66 at 66.06

 

Struggled to hold that support level...

 

There's no divergence... XAU closed down 4.64

 

Follow through expected... Minimum a test of the previous low...

 

Personality... Gold and Miners tend to "V-Bottom" not close at the low, usually bounces intraday...

 

We could get a gap up tomorrow, I hope so, but I will be shorting that gap...

 

The setup to go long here is to test this 65.71 low on lighter volume... tap it, right under by cents and then a volume thrust higher....

 

I suspect though from the way it closed we'll get that bounce tomorrow.

 

So we'll see if it tests the low and the volume dries up, or if the sellers gap it up for further distribution.

 

There was no divergence.   The low on gold was 1180... it finished here just like the XAU... just over that 1182 support I called out earlier at 1182.5...

[SemiBizz]

So anyway it's been fun the last couple of weeks with the gold bugs here, I felt strongly this was going to go lower, and I hope I "saved" some traders from some losses.  From here on in though, I am currently on a Caribbean Cruise, and my wife wants me to spend more day hours with her, I was supposed to be getting away from my work here, but as we know, sometimes Mdme. Market presents us with opportunities, and frankly I couldn't pass up the money, it was too easy...

 

It gets tougher from here, my daily guidance will still be available to subscribers, but I'm not going to be updating it here....

 

Good luck to all...

[Russ]

Nope... DOWN ON HUMONGUOUS VOLUME...

 

The only thing you saw was a finish just over 66 at 66.06

 

Struggled to hold that support level...

 

There's no divergence... XAU closed down 4.64

 

Follow through expected... Minimum a test of the previous low...

 

Personality... Gold and Miners tend to "V-Bottom" not close at the low, usually bounces intraday...

 

We could get a gap up tomorrow, I hope so, but I will be shorting that gap...

 

The setup to go long here is to test this 65.71 low on lighter volume... tap it, right under by cents and then a volume thrust higher....

 

I suspect though from the way it closed we'll get that bounce tomorrow.

 

So we'll see if it tests the low and the volume dries up, or if the sellers gap it up for further distribution.

 

There was no divergence.   The low on gold was 1180... it finished here just like the XAU... just over that 1182 support I called out earlier at 1182.5...

Thanks for all your updates.  If you look at the 30 minute chart gold broke the morning low but gdx, nugt etc never did, some divergence.

[SemiBizz]

 

 

Posted on 08/08/18

 

 

Actually I believe the most important low on this monthly chart is November 2016 at 1167.90.

 

 

 

So here's how this works... unless gold can break 1202 and hold now... 1167.XX comes... when that one breaks 1134 next.

 

 

Tonight's Low so far... 1167.10 on the December Contract....

 

BAGGED AND TAGGED

[Russ]

 

 

 

Posted on 08/08/18

 

 

Actually I believe the most important low on this monthly chart is November 2016 at 1167.90.

 

 

 

So here's how this works... unless gold can break 1202 and hold now... 1167.XX comes... when that one breaks 1134 next.

 

 

Tonight's Low so far... 1167.10 on the December Contract....

 

BAGGED AND TAGGED

 

Very impressive, some kind of magic calling that one, what's next?