90 replies to this topic

[senorBS]

also, SIL just made a new rally high since last week Wednesday's major decline low, that's happening with silver recently going sideways and lagging gold,just perhaps another small indication of which direction we "might" be headed, this is where we look for clues. Bearish count is that a C wave in SIL is ending from the low, bullish one is that we are getting ready to accelerate sharply higher - we see Senor

[tomterrific14]

more choppy action in miners below GDX and GDXJ resistance, ABX this mornin did register a very marginal major new decline low (couple ticks below July 2013 bottom) this morning and has bounced a bit - significant daily and weekly divergences and looks like a potential important completion pattern. I view this as large degree bottoming action as many miners and ETF's may have already bottomed and some others possibly complete their patterns, we see if this interp is correct

BSing away

Senor

A close above 14 breaks downtrend.....16 to 16.50 potential near term.

http://stockcharts.com/h-sc/ui?s=abx

[senorBS]

more choppy action in miners below GDX and GDXJ resistance, ABX this mornin did register a very marginal major new decline low (couple ticks below July 2013 bottom) this morning and has bounced a bit - significant daily and weekly divergences and looks like a potential important completion pattern. I view this as large degree bottoming action as many miners and ETF's may have already bottomed and some others possibly complete their patterns, we see if this interp is correct

BSing away

Senor

A close above 14 breaks downtrend.....16 to 16.50 potential near term.

http://stockcharts.com/h-sc/ui?s=abx

agree, I like the potential ending downside pattern, divergences all over the place, also possible short term 5 up off this mornins low, it's got its chance here IMO

Senor

[senorBS]

lets see if ABX (13.89 last) can decisively clear 14-14.05 today, if it does it will start looking like at least a key trading low and IMO imply prices will head a good bit higher and that could help the GDX and larger miners BSing away Senor

[dharma]

what i am also watching is miners costs, w/oil plummeting are being cut=more profitable for them to mine. the drag is the broad market . it sucks the life out of miners. w/the fed taking about raising rates and buillard coming out and saying he maybe we shouldnt end qe, talk about mixed signals. folks have alot of confidence in the fed! is it well founded. dharma

[dougie]

20 DMA is still capping rallies on juniors

[senorBS]

It seems like there is someone with a fly swatter that keeps swatting down the GDX/GDXJ when the get into this resistance area, but GDX and GDXJ just keep coming up off the floor for more. It "feels to me" like prices are very resilient here and readying for an eventual strong move above this area, we will see Senor

[tomterrific14]

It seems like there is someone with a fly swatter that keeps swatting down the GDX/GDXJ when the get into this resistance area, but GDX and GDXJ just keep coming up off the floor for more. It "feels to me" like prices are very resilient here and readying for an eventual strong move above this area, we will see

Senor

http://stockcharts.com/h-sc/ui?s=cef 60% Gold, 40 % Silver

Daily momentum indicators, MACD, PMO, TSI, TRIX suggest bottom is in. Confirmation is needed by a break out above and close of 12.75

[senorBS]

GDX looks like it needs a decline just below 20.67 and GDXJ below 31.80 to complete possible wave "ii's", and with other stocks like ABX and NEM probably completing final fifth waves the "ugly bottom" process appears fully underway. I think we will likely go below those levels listed but a low above there would not surprise me either BSing away Senor

[dharma]

GDX looks like it needs a decline just below 20.67 and GDXJ below 31.80 to complete possible wave "ii's", and with other stocks like ABX and NEM probably completing final fifth waves the "ugly bottom" process appears fully underway. I think we will likely go below those levels listed but a low above there would not surprise me either

BSing away

Senor

hourly charts
gld oversold
gdx and gdxj not oversold
this could be a B or 2. or something else entirely
@the fed site , the fed added 19 billion last month
dharma