Member
Posted 30 June 2016 - 02:14 PM
GDX has lead gold the last two days, which is a positive development popping out of a contraction triangle yesterday. While proofing this posting, GDX just hit the high from last Friday.
GLD, however, has been weighed down going lower the last two days, but at about 1:50 EDST, it also popped out of a corrective pattern and looks like its headed to the high end of trading zone since Friday.
PLG a platinum play has been positive today as well.
Member
Posted 30 June 2016 - 02:39 PM
The GLD pattern looks like e of an abcde triangle completed.
Member
Posted 30 June 2016 - 03:17 PM
Several of the worst performing stocks were back at moving lower today. T
he USO pattern of the last three days appears to have topped and it likely is on its way to test 11 again. The strength in GLD and GDX as well as weakness in USO may imply we are going to get a gap move higher in GLD (lower in stocks), since we have been sideways in GLD for the last 4 days. We have 6 more days before the 10 day cycle low catches up with the index. We also have a new moon (sell) in silver setting up for 7/4, so metals have to get moving now to make significant headway.
Member
Posted 30 June 2016 - 03:20 PM
bottom line with the miners we are in a wave iii. minimum absolute minimum on this run. i was buying calls today and i am sitting im my positions until 370 . you have been spot on congrats
Member
Posted 30 June 2016 - 06:47 PM
minimum is 370 i dont think that was clear
