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out on a limb! bottom for wave 2 in !?


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#111 Russ

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Posted 14 June 2019 - 12:29 PM

for now, Armstrong's 1362 is acting like a big wall, came close to getting over it and fell back.... 


"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/

#112 Russ

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Posted 14 June 2019 - 12:39 PM

Despite the resistance I am still showing a high for early Sept. for GDX which also showed the late May low signal as can be seen on this chart. . 


"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/

#113 gannman

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Posted 14 June 2019 - 12:54 PM

its done thei bear market is over imo also late may was 34 months from the top in

 

2016  but regardless this is what an impulse wave looks like  and the broad market is

 

going to see a major super cycle top . the next 3 years are going to be interesting 

 

big fib hits in late 2021 also so  i dont know how it all ties together but  stocks are basically 

 

done here 


feeling mellow with the yellow metal


#114 Russ

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Posted 14 June 2019 - 01:27 PM

its done thei bear market is over imo also late may was 34 months from the top in

 

2016  but regardless this is what an impulse wave looks like  and the broad market is

 

going to see a major super cycle top . the next 3 years are going to be interesting 

 

big fib hits in late 2021 also so  i dont know how it all ties together but  stocks are basically 

 

done here 

Armstrong says 40 k on the dow is coming as capital seeks shelter from government risk.


"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/

#115 senorBS

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Posted 14 June 2019 - 02:40 PM

exited ALL longs today, its been a great ride and it may continue, rather buy higher and miss a bit in case today was some type of top. Might be a mistake selling here but can't argue with the very nice gains taken and I can always get back in quickly, as always DYODD

 

Senor



#116 senorBS

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Posted 14 June 2019 - 03:20 PM

gold COT's were awful today, maybe we are in that 1 in 10 yr time frame that they are wrong, we see

 

http://news.goldseek.../1560540626.php

 

Senor



#117 gannman

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Posted 14 June 2019 - 03:43 PM

its interesting here senor they were horrible last week too. 

 

watching to see how the metal reacts


feeling mellow with the yellow metal


#118 tradesurfer

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Posted 14 June 2019 - 08:43 PM

I can't believe how much they increased their shorts.   Huge bar increase.  I guess they expect the dollar to break out north.

 

I wonder what gold price level  it would take for them to get a more neutral stance long bias.

 

https://snalaska.us/...t/charts/GC.png


Edited by tradesurfer, 14 June 2019 - 08:44 PM.


#119 senorBS

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Posted 14 June 2019 - 10:06 PM

I can't believe how much they increased their shorts.   Huge bar increase.  I guess they expect the dollar to break out north.

 

I wonder what gold price level  it would take for them to get a more neutral stance long bias.

 

https://snalaska.us/...t/charts/GC.png

While the miners in general were flat  today gold had basically a $20 reversal from what had looked like a "decisive" breakout move higher, and silver failed again at $15. I have to take that action seriously and what I have been adamant about is five wave rallies that should lead to new highs resulting in either a wave 3 higher or less possibly a top. I got my new highs in a lot of stuff and while anything is possible a wave 3 breakout IMO should close near the highs, nor reverse $20 lower and close near the lows and easily below previous highs at 1348 - that simply did not sit well with me. Now Monday "might" rectify this and rally strongly, but if it doesn't and we move lower todays highs could be a rather important top for a while at least, I simply decided to play it safe given the very good gains I had. Those COT numbers are also making me glad I played it conservatively, with one click of the keyboard I can get back long, Monday will be the "tell" IMO

 

Senor



#120 senorBS

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Posted 15 June 2019 - 09:58 AM

In reviewing the gold daily and weekly chart this morning one very viable count we IMO HAVE to consider is that golds new high this week was a large 5th wave from the Aug low of last yr, we did see both daily and WEEKLY RSI diverge into Friday's high. If this count is correct then the expectation is for a SEVERAL MONTH DECLINE back to at least prev 4th wave support at the 1260 area. Its also viable that Friday's decline was a quick wave ii of an unfolding larger wave 3 higher but IMO if that is the operable count prices have to resume the rally Monday and soon go above 1260. Am very glad to be totally out and I will let the market tell me at this critical juncture.

 

Senor


Edited by senorBS, 15 June 2019 - 09:58 AM.