37 replies to this topic

[dharma]

senior junior here is loving the bearish sentiment here!

doesnt anyone here still have faith in a head and shoulders bottom formation?

Gold will be back at the 930.00 neckline of this formation before the end of JUNE.

Gold will not go below 850 1980's all time high support.

Dharma turned bearish and everyone is capitulating down here!

this downleg in gold is LOSING STEAM volume wise. remember, VOLUME is the force that moves markets... and on GLD volume is weakening on each successive low V formation.

on this so called Bernanke news, they should have taken gold down minimum $50 !! but all they can manage is a lousy 7 bucks???

Bernanke is a JOKE! He screwed this entire market and economy up, and now all of a sudden we are to believe him that he will rally the dollar and crash gold??? NOT. I dont buy it. The BKX is cooked big time and is soon going to break 10 year support.

but the broadmarket indices including the $BKX are gaining STEAM to the downside BIG TIME. This mini panic that is developing there will SUPPORT A GOLD PRICE RALLY that moves the gold price back up to 930 neckline !!!

If I am right I officially want to be crowned Senor Junior!!

just for the record dharma is more than 90% long, dharma thinks we are in a bull market, and within that context a correction is occurring. i too think 850 could hold, if not then the #s i posted come into play. i am not looking for fame or recognition. i post my thoughts. i have alot of experience. hopefully, it will help someone. dharma

[johngeorge]

just for the record dharma is more than 90% long, dharma thinks we are in a bull market, and within that context a correction is occurring. i too think 850 could hold, if not then the #s i posted come into play. i am not looking for fame or recognition. i post my thoughts. i have alot of experience. hopefully, it will help someone. dharma

Thanks dharma
Best to you
johngeorge

[dharma]

looks to me like we are setting up for a rally that will fail. and then the final low. looking for this decline to end this week, and then a 2 week rally, which will fail. then another bull move. dharma

[swanstkdh]

Thanks Dharma. You and Senior are great traders in my opinion.

[dougie]

dharma: what cycles are you looking at for those turns?

[dharma]

swans- i am a buy and holder @this stage of my career, senor is the real deal! dougie- the bradley comes in sat. my up cycle is till the end of the month(june) july and august are seasonally weak and the start of the next cycle will be down until sometime in august. dharma

[dharma]

hourly divergences on the 9bar wilder rsi on xau/hui. if the market turns up here, this will be the rally that fails. dharma

[senorBS]

hourly divergences on the 9bar wilder rsi on xau/hui. if the market turns up here, this will be the rally that fails. dharma

Be muy careful here amigo as hourlies can easily be overwhelmed by dailes and weeklies which look malo to Senor.

BSing away

Senor

[dharma]

hourly divergences on the 9bar wilder rsi on xau/hui. if the market turns up here, this will be the rally that fails. dharma

Be muy careful here amigo as hourlies can easily be overwhelmed by dailes and weeklies which look malo to Senor.

BSing away

Senor

this is not the final low for me, too early, but this will be a rally that fails to make new highs, it will just be a rally in a correction. the pattern is not complete. many issues have hourly divergences from oversold. depending upon the open this could be a rally for a pop. we are in support and oversold w/divergences on the hourly. just my 2c dharma

[dharma]

divergences in tact, but i like to see an up hour, before i put on a trade. as of now the indexes are flat. on an up hourly close i will buy. this is a trade to 430-440 hui. dharma