Member
Posted 28 December 2016 - 03:35 PM
Down volume was also bigger last autumn/winter too and then accumulation was small but eventually became much bigger, the chart has the appearance of a large bull flag, it could go lower but should eventually turn bullish...
Edited by Russ, 28 December 2016 - 03:36 PM.
Member
Posted 28 December 2016 - 03:37 PM
miners continue to trade well and IMO now likely leading the sector higher, and the beat goes on........the bears keep poundin a bullish rhythm to the brain, and the beat goes on......la di the di di, la di the di the..................................
NO BS
Senor
Shhhhhhhhhhhh… Darn it! LOL
Volume Dynamics Specialist
Posted 28 December 2016 - 04:01 PM
Down volume was also bigger last autumn/winter too and then accumulation was small but eventually became much bigger, the chart has the appearance of a large bull flag, it could go lower but should eventually turn bullish...
OK so here's the crux of the matter, if you look there were two false start rallies on this thing last year... only when it SURPASSED THE PREVIOUS VOLUME SPIKES with STRONGER VOLUME at a HIGHER PRICE in the 2nd week of February did it succeed...
That is NOT what is happening here.
If that arrives, I will adapt.
Until then... False breakout bounce.
Edited by SemiBizz, 28 December 2016 - 04:01 PM.
Member
Posted 28 December 2016 - 05:49 PM
And gold is still $240 away from the last high and $95 from the last low...
The hopers keep hoping...
It all makes a market.
The light volume sets up a tug of war...
But gold is going nowhere so far.
I am glad gold and the miners came down to these levels as the signs of bottoming action started surfacing and I started buying, so far those buys are lookin pretty good. There is no "hoping" here, just solid chart analysis and trading using stops. So far the gold/miner action is doing what I think it should "if" a bullish resolution is going to occur. This is still no high confidence bullish action yet but this is a good initial action and daily charts looking better and better in GDXJ/HUI and leading stocks like GOLD-AEM-ABX-GG
Senor
Member
Posted 28 December 2016 - 08:41 PM
Senor, take a bow.
Member
Posted 28 December 2016 - 09:14 PM
And gold is still $240 away from the last high and $95 from the last low...
The hopers keep hoping...
It all makes a market.
The light volume sets up a tug of war...
But gold is going nowhere so far.
I am glad gold and the miners came down to these levels as the signs of bottoming action started surfacing and I started buying, so far those buys are lookin pretty good. There is no "hoping" here, just solid chart analysis and trading using stops. So far the gold/miner action is doing what I think it should "if" a bullish resolution is going to occur. This is still no high confidence bullish action yet but this is a good initial action and daily charts looking better and better in GDXJ/HUI and leading stocks like GOLD-AEM-ABX-GG
Senor
Bravo Senor! Buenisimo!
Member
Posted 28 December 2016 - 09:30 PM
Senor, take a bow.
LOL Smithy, I just try to follow the charts and let folks know what I am thinking and why. I have been humbled by the markets enough times to know to take it easy and not get adamant about any forecast or position. I crack up when someone comes on a thread like this and start throwin all this funnymental stuff at me, as it is meaningless (BS to this old BSer) to me as I have stated over the years. Gimme a chart baby and I am a happy camper. I do see gold at 1148 tonite, love to see a sustained move above 1150
BSing away
Senor
Member
Posted 28 December 2016 - 10:42 PM
Look at Newmont the king and one of the oldest gold stocks and you can see the up-volume is bigger than the down volume...
Also look at gdx:gld , this is a critical measure....chart from http://breakpointtra....php?nl_id=3259
Volume Dynamics Specialist
Posted 28 December 2016 - 11:18 PM
UP Volume and DOWN Volume are meaningless...
It's not the #yards gained by the offense or the #yards gained by the defense that decides the game...
It's the SCORE.
Which means the VOLUME at the SWING POINT...
Member
Posted 28 December 2016 - 11:30 PM
UP Volume and DOWN Volume are meaningless...
It's not the #yards gained by the offense or the #yards gained by the defense that decides the game...
It's the SCORE.
Which means the VOLUME at the SWING POINT...
the score is that gold is rallying at 1149 tonight and this babble is meaningless
