armstrong from private blog 10 days ago
#1
Posted 25 January 2017 - 02:17 PM
Gold has been pressing high since it generated and elected at the same time a Monthly Bullish Reversal on the closing of 2016. The first real resistance stands at the Weekly Bullish Reversal 1221. That would need to be exceeded to see a rally of $100 above that level.
Our timing models had targeted this week of the 16th for a turning point. We have used our What-if Models to determine what the Monthly Bearish would be from a January high assuming we reached close to the 1221 level. That would then come in at 1243. We have been warning for months that January would be a key timing target. Gold tends to be very seasonal and January is often the time for highs and lows on a major scale. The 1980 high was January 21st. February is also a Directional Change.
So be on guard for a high this week. Of course the gold promoters are yelling BUY as they always do. Nothing has changed to undermine the confidence yet in Trump with consumer confidence at record highs. To sell gold as the safe haven, the AVERAGE person has to lose confidence and that has not taken place despite the fact that press will bash Trump and everything he does no matter what.
i know folks like him
dharma
#2
Posted 25 January 2017 - 02:38 PM
Presumably he means " To BUY gold as the safe haven, the AVERAGE person has to lose confidence"
#3
Posted 25 January 2017 - 03:48 PM
Thanks Dharma,
I am still showing around Feb. 20 as a high for GDX.
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#4
Posted 26 January 2017 - 04:15 PM
we shall see
dharma
#5
Posted 26 January 2017 - 10:05 PM
your welcome russ. this next move has the potential to last into may
we shall see
dharma
Yes, I am wondering what Senor thinks these days? He seems to have disappeared.
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#6
Posted 27 January 2017 - 12:32 AM
Presumably he means " To BUY gold as the safe haven, the AVERAGE person has to lose confidence"
Yes that is what he means, that the public has to lose confidence in the government, then gold can fly.
btw... I found this chart in my files from last summer, this chart was totally correct in time and price for the xau low....
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#7
Posted 27 January 2017 - 01:23 AM
#8
Posted 03 February 2017 - 10:50 AM
"Gold elected a Minor Monthly Bullish Reversal at the end of January giving us a little pause for now. Technically, gold is filling out the pennant formed between the Downtrend Line and Uptrend Line. We have not elected any Weekly Bullish from the December low. We need to close Friday now above 1221 to signal a further advance into February."
We knew that already, but:
"Although we need a weekly closing on Friday above 1221, keep in mind that we are also generating a long-term sell signal at the 1272 level. This is warning we are not quite ready for a prime time bull run.
Our next important Directional Change will be April. We should be care around Friday April 21st
dharma