22 replies to this topic

[dougie]

yes there are those divergences but you should really check into bottom callers anonymous for the weekly specials.
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Since almost no one has a "potential" bullish outlook I will provide one after last week's "crash" into Friday's low - GDX down almost 16% last week;

GDX: RSI is diverging across the board from hourly to monthly charts "so far"

Hourly: the new low late session Friday saw hourly RSI diverge at a very oversold level

Daily: diverging vs early Oct low at very oversold level

Weekly: diverging vs April and June of 2013 at very oversold level

Monthly: also diverging against June 2013 low

So we have the "set up" for the "full monty" of divergences. Please keep in mind divergences are only a "potential" bottoming indication if prices soon turn higher, they can be blown out with a continued waterfall decline. Very important action early this week, if we do turn higher and these divergences persist it could indicate one helluva low and IMO there are wave counts that can support this "IF" we start turning higher.

Senor

[dougie]

some signs of a local low
http://scharts.co/YGnOul

[jabat]

http://plunger.goldtadise.com/

This guy has good article on the this bear market. He thinks we are in phase III - final washout.