At noon on Thursday the 5 min gold chart shows a megaphone Reverse Point Wave, which, if valid, is an ending pattern comparable to a falling wedge. Some small proportion end up being a continuation pattern. The low (curr. 1201.50 spot) is the stoploss.
wave 3? continued
#171
Posted 09 March 2017 - 02:27 PM
#172
Posted 09 March 2017 - 03:19 PM
GDX possibly going to bottom the week of March 20, there is also a strong trend for good high in July/Aug, which seems to be the pattern lately, summer high followed by winter 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/
#173
Posted 09 March 2017 - 03:28 PM
GDX possibly going to bottom the week of March 20, there is also a strong trend for good high in July/Aug, which seems to be the pattern lately, summer high followed by winter low.
wondering if we may get a daily momentum low in this area, then a retest or modest new low with a divergence in a week or two
Senor
#174
Posted 09 March 2017 - 03:46 PM
GDX possibly going to bottom the week of March 20, there is also a strong trend for good high in July/Aug, which seems to be the pattern lately, summer high followed by winter low.
wondering if we may get a daily momentum low in this area, then a retest or modest new low with a divergence in a week or two
Senor
Keep our fingers crossed Senor, I will be looking to get back into nugt and jnug.
"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/
#175
Posted 09 March 2017 - 04:20 PM
See 200 day moving average.
http://stockcharts.c...r=1488977068925Do you find MAs of these ratios helpful?
In 2001 we bounced around the 200 day MA, after the initial surge in the ratio, for several months and then took off. It looks like that now, but time will tell.
Gold stocks have been so battered for 20 years or so .
#176
Posted 09 March 2017 - 04:22 PM
I watch $XAU for clues - it always seems to be the leader - moves both up and down seem to begin here first - this is a 10 min chart I am watching now, FWIW
http://stockcharts.c...205&a=345274888
and yes I agree with the momentum bottom soon followed by a sharp rally and then a retest to wrap this thing up (need the bottom first!)
#177
Posted 09 March 2017 - 10:09 PM
folks sit w/crystal balls
when the market is oversold and diverging , its time for me to pick up stuff i like. is that right 100%of the time. absolutely not
But it is right eough of the time where i can make decent returns. so i buy a little here and there w/these conditions and wait
a big huge % of the time markets are in tr - once that happens i wait. only the best fastest traders make money in those markets
i sit that dance out. i think we are on the verge of a big move, not sure about the dec 16 lows, but the 15 lows look clear to me so
i am participating waiting for the next impulse to reveal itself. will we break the lows. . i dont know and neither does anyone else
but what i know is if i buy the best stocks in the conditions i just mentioned i know a large %of the time i will make good returns.
and that is why i do this , i like the challenge. and i like unravelling the forensics.
dharma
if the miners break from here i sell what i bought if not , i ride. and buy more. the fed is behind the curve= golds day is not far off
#178
Posted 10 March 2017 - 10:56 AM
" the fed is behind the curve= golds day is not far off"
Looking at the 6 month T Bill rate today it is .89%. Hasn't been that high in I don/t know how many years. Yes, the Fed is definitely behind the curve and I remain bullish on miners and precious metals.
johngeorge
#179
Posted 10 March 2017 - 11:46 AM
Senor
#180
Posted 10 March 2017 - 12:00 PM
Senor
"I do think we are bottoming at least near term, but we will see"
My thinking as well so I bought a position in JNUG this am. Snug stop.
johngeorge