48 replies to this topic

[dharma]

sentiment
HGNSI fell 6.2 points yesterday to -40.6%.
MarketVane’s Bullish Consensus was unchanged at 36% today
, and the DSI rose 5 points to 8%.
gofo rates continue to be negative out to 6months ,which show folks want physical right now which is positive for gold

1180 is now resistance 1 lets see if we get there 2 if it caps any rally
will this just be another failed rally? market conditions sure seem ripe for a return of the bull . sentiment has been really negative for quite some time
the market has had so many capitulations, i have lost count. miners are back @08 prices(08 gdx =15.83 low) . if one has patience these prices will prove to
be deals
i may have posted this on the other thread , but his point coincides w/my thinking. the gold bull will be supported by indians and chinese , it is not going to come from the west, the people do not understand gold. while in the east , they have had so many monetary turmoils . gold is ingrained in the indian psychology.
http://kingworldnews...ver_Plunge.html
it is possible that we finished 5 down here. it is one of the possibilities out there
dharma
waiting to see this weeks cot , which includes tuesdays action

[dharma]

rangold might fire the 1st shot http://www.bloomberg...fire-sales.html
dharma

[dougie]

so far we have three waves up off the lows. Lets see if we can make that 5

[dougie]

quiet around here these days everyone must be hiding from their wives

[dougie]

rsi divergences from monthlies all the way down. when did we ever see that?

[dharma]

going back on the chart , the dollar is in major resistance! time for a breather dharma

[Russ]

rsi divergences from monthlies all the way down. when did we ever see that?

Perhaps a sign of strength on the monthly rsi and the divergent momentum? The gld/gdx is rolling over now (second chart below), I notice Armstrong is looking for a rally now too as he wrote a rally is on the horizon. Note the declining volume on gld compared to previous sell-offs. Nice turn right on the full moon.

Avi Gilbert is looking for a rally into the end of Nov which of course is opposite what Tria's cycle chart is suggesting. Too many people looking for -1000 gold too soon...

http://bigcharts.mar...&mocktick=1.png


http://stockcharts.c...15388460185.png

Edited by Russ, 07 November 2014 - 02:41 PM.

[goldfungus]

quiet around here these days
everyone must be hiding from their wives

Not me. She understands where all this is going.

[Russ]

Divergent monthly rsi and momentum can also be seen back in August 1999 as gold was putting in its final low since 1980's high.

[dharma]

Divergent monthly rsi and momentum can also be seen back in August 1999 as gold was putting in its final low since 1980's high.

yes and that 1171 was last seen 4.32 years ago. pi . we have come full circle. time and price are up.
waiting to see a 5up , then the reaction will be worth buying for @least another 5 up
dharma