question is, did we just compete a big ABC and now we go down....
wave 3? continued
#71
Posted 27 February 2017 - 10:11 PM
#72
Posted 27 February 2017 - 10:13 PM
honestly i dont remember.
are you ego involved here?
my job is the market i wouldnt know you if i was standing next to you
dharma
#73
Posted 28 February 2017 - 12:32 AM
#74
Posted 28 February 2017 - 12:50 AM
dougie
I found this chart interesting. If I am reading the chart correctly it is showing April 17th as the next turn date for gold. Could it be that gold still has that much room to run? Honestly I don't have a clue. Meanwhile I am in watchful waiting mode. Not selling any of my PM stocks and not buying.
johngeorge
#75
Posted 28 February 2017 - 10:14 AM
Posted today by Armstrong:
In the Gold Report fro 2013, we provided the Benchmark targets. The week of 11/07/2016 picked the wild ride and the Trump victory. The next target was right now-the week of 02/27/2017. Note that this is producing potentially a high especially if gold closes below 1255 today. We should probably then see a decline to retest support. Nevertheless, the fact that the Benchmark is producing a high signals that gold is preparing to turn in the months ahead.
does this mean Armstrong is not as bearish as before?
Thanks everyone for the valuable discussion, it helped my investing a lot.
#76
Posted 28 February 2017 - 10:27 AM
Report for 2016, sorry for the typo, it was not allowed to copy and paste:(
#77
Posted 28 February 2017 - 10:43 AM
Yes. We are running out of time for the downside in gold. This does not say we are breaking out right now. In fact, the next Benchmark was the February 27th, which we published in the 2016 Gold Report. We would need to close February above 1306 to imply that a breakout is unfolding and a closing below 1255 today will still be bearish. Gold is moving into a tight range where technical resistance stands at 1286 area and support at 1230.
The rise in gold is unfolding despite the rise and expected rise in interest rates. Likewise, gold has been rising with the US share market. This is part of the tangible asset rally as capital begins to drift away from public sector debt. A collapse in confidence means ALL tangible assets rise – not just gold.
However, we are still basing. The rally does not yet appear to be sustainable. A closing today below 1255 after trading above that right on the Benchmark day no less, warns that we are preparing to change trend, but it is just not right now. Let’s see the closing for February.
for me i read armstrong like i read everyone else. i defer to my work
dharma
#78
Posted 28 February 2017 - 10:52 AM
i like his historical comparisons. his labelings are a waste of time. i am not a fan of his analysis either. his historical
comparisons are helpful. just my 2c
i believe this week will be the top, for now in the gold market. and next week will see some movement to the downside. a very high
% of the time the miners lead, and they are leading down. yesterday the gdx tagged the 50dma and so the bounce today. i have turns
or astro activity every day this week. volatility is now in play.
dharma
jg- my understanding , fwiw, of the bradley is the dates are changes in trend , but the direction is someones interpretation. eg
august 19th may be a high or a low. the bradley is a smoothed over astro chart. anyway, i hope that helps
#79
Posted 28 February 2017 - 11:16 AM
Thanks dharma
It certainly does. Best to you.
johngeorge
#80
Posted 28 February 2017 - 12:32 PM