19 replies to this topic

[Russ]

the weekly sell from early July
it hasn't lied so far.

Yes the weekly stochastics on both gdx and gold is a strong sell as you noted in July, the gold chart is coming down in what looks to be a perfect bull flag formation though.... at least until it breaks the lower trendline.

[senorBS]

silver appears to be ending a small 4th wave contracting triangle, one quick thrust below 19.09 could put in place a tradeable low, we see Senor

[senorBS]

I think we are going to finally make that important secondary low but the market has made it extremely difficult which really is no surprise, and of course I could be wrong and we instead move to new lows over the next 3-6 months. Still think we are seeing large corrections of big 5-wave moves, we see single day DSI silver/gold sentiment at 15/22 percent bulls yesterday, 5-days are at 23/33 Senor

[fib_1618]

Stopped out this morning...hoping for a better entry next time when the internals agree!! Fib

[dougie]

this can't be helping things
http://scharts.co/1gkYON3

[risk_management]

Stopped out this morning...hoping for a better entry next time when the internals agree!!

Fib

Good discipline. Thank you for the update.

[fib_1618]

Good discipline.

Discipline is my middle name!

And for the record...I was trading NUGT...entry at $41.65 (market) and executed AFTER I made this post to make it fair...stop was at $40.80 for a .85 loss.

Like I said...worth a nibble with the tight stop...looks like the next window may not come until November.

Fib

[tria]

Good discipline.

Discipline is my middle name!

And for the record...I was trading NUGT...entry at $41.65 (market) and executed AFTER I made this post to make it fair...stop was at $40.80 for a .85 loss.

Like I said...worth a nibble with the tight stop...looks like the next window may not come until November.

Fib

Hmm, November is near the next 25 wk cycle low.

If this current cycle is extremely LH translated, Mamma Mia.

http://stockcharts.c...p...7&cmd=print

Chart annoted by Eddie from the T-Theory forum.
The cycle was observed by the late Terry Laundry RIP.

-tria




Hmm

[fib_1618]

Hmm, November is near the next 25 wk cycle low.

From the 8/29 Weekly Breadth Update:

"Although the Precious Metals BPI is now leading prices to the upside, the Precious Metals and XAU advance/decline lines continue to look sloppy with a bearish bias. Given that we're now at the end of our anticipated August buy window, unless there is a remarkable influx of capital into this asset class next week, it would appear that any chance of a tradable bottom will have once again passed us by until sometime in the 4th quarter...ideally in the November/December time period."

Fib

[dougie]

i am liking today action but utter capitulation is not here yet maybe that will need to wait Still, it appears that gold is very good at snatching defeat from the jaws of victory