8 replies to this topic

[beta]

Today's action has me looking at updated weekly charts, first posted back in January 2013.

In general, I believe we are seeing the long-awaited "reset" for the final blow-off move going into year-end/Q1 2014.

$Gold has frontrun the decline, and SPX/NDX should swifly followthrough to the downside over the next 2-3 weeks while PMs stabilize, if this view is correct.

Note that until it violates 1080, bulls remain in play. 1280-1300 should hold:

http://stockcharts.com/h-sc/ui?s=$GOLD&p=W&yr=8&mn=0&dy=0&id=p27549470462&a=287589246&listNum=2.png

Edited by beta, 15 April 2013 - 04:09 PM.

[beta]

test

Meanwhile, SPX:GLD hit a monthly extreme of 1.14 today. I expect it to swing back to .9 in the next 2-3 weeks, targeting around 1420/1580:

http://stockcharts.com/h-sc/ui?s=$SPX:$GOLD&p=M&yr=18&mn=0&dy=0&id=p14906309575&a=201504429&listNum=1.png

Edited by beta, 15 April 2013 - 04:11 PM.

[beta]

AAPL looks well-baked. Shorted @ close, target 350's. [sorry IMG function does not appear to be working]

Edited by beta, 15 April 2013 - 04:13 PM.

[SemiBizz]

I posted this chart over the weekend here...

I set this chart up months ago...

Today the XAU fell right to the monthly downtrend line (chart update below).

If this thing falls through it tomorrow...

We're gonna be in double digits...

Gold, gold miners are falling knives...

[beta]

yes, but bounce to GDX 32 first

[beta]

... I will say as a big cautionary note that the one chart which makes me question whether we have seen THE TOP is BHP Weekly. This thing looks ominous. If BHP gets below < 55, I will start to take very seriously the notion that THE BULL IS DONE.

Edited by beta, 15 April 2013 - 04:23 PM.

[beta]

Regardless of longterm scenario, in the near-term I see a 10% haircut coming across the broads. QQQ 60, SPX 1420 are my targets by June 2013.

Edited by beta, 15 April 2013 - 04:36 PM.

[tomterrific14]

Regardless of longterm scenario, in the near-term I see a 10% haircut coming across the broads.

QQQ 60, SPX 1420 are my targets by June 2013.

http://stockcharts.c...sc/ui?s=$nya50r maybe sooner

[beta]

test

Edited by beta, 20 April 2013 - 02:32 PM.