405 replies to this topic

[Russ]

 

Shorter term maybe not so good.... 

 

Russ, looks like another nice 5 up and near term correction underway, could work somewhat lower next week but a bullish pattern IMO

 

Senor

 

Yes Senor, GDX, HUI etc have a huge wedge formation going back to early 2016, sure looks like it is going to break out soon.

[senorBS]

 

 

The gdx pattern sort of looks like an inverse cup and handle? Not a good thing going into seasonally weak june

I'll side with the clear 5 up daily
 
Senor

If 5 up then you have us in a wave 2 here?

 

the problem here is if its not a 3rd wave and we instead do seven waves up (HUI made new high, GDX almosy there) from early March low and reverse lower it really muddles the count and downside risk increases, I sold half of my longs now just a bit above 10% long

 

Senor

[dougie]

No volume or technical support for wave 3 imo

[dougie]

looks like one more trip down to new lows here 

[dougie]

but does S&P look like 5 waves down?

[senorBS]

but does S&P look like 5 waves down?

Not to me, daily looks like a clear abc from the highs "so far, I tend to favor this is a 4 and we may need one more new high and then finito, we see

 

Senor

[dharma]

xra taken out for a 67% premium. by gg

today is options expiration. so i dont consider this a trend . rising gold prices and falling miners. if it continues beyond today, then its troublesome and i will be forced to peel back.   when i say that i keep my core.   anyway i have a list of takeover candidates. which need tending to.  1245 is support , this area has resistance so a move back to support would not surprise me. i am still looking for over 1300 after a pause of somekind in here.

and a pullback in this area would make a rt shoulder of an inverse h&s pattern.

indians are now free to withdraw unlimited amounts from their bank accounts. 

the dollar looks quite weak here. 

at what point does a dollar devaluation take place

the euro is on the verge of a breakout against the buck.   huh????????!

dharma

[gannman]

I am thinking we get one more surge in the dollar causing a final pullback in metals

And then we are off to the races

[gannman]

And what I think this rally from Mar 15 is a b wave and now we head into a c to complete wave 2

[senorBS]

And what I think this rally from Mar 15 is a b wave and now we head into a c to complete wave 2

tend to agree with that

 

Senor