Member
Posted 22 May 2017 - 12:21 PM
nice chart , those looking for dollar strength may be surprised. dharm
agree, dollar seems to be the most trending of just about anything when a trend gets going and can stay at overbought/oversold levels for week/months and just keep trending, as I said earlier it looks like a clear breakdown to me and the 93 DXY area looks like the next important downside target area
BSing away
Senor
Member
Posted 22 May 2017 - 03:58 PM
just a few thoughts here. after looking at the charts of the stocks and the dollar and reading the posts on here i believe that
wave 3 in the hui started may 4 and wave 3 in gld started may 9
targets would be about 425 for the hui and 145 to 150 for gld
if you look at the chart of hl that helps to clarify the big picture imo
Tim
Posted 22 May 2017 - 06:08 PM
The next gold high should be in 3 weeks not counting this week, June 16 week.
"marxism-lennonism-communism always fails and never worked, because I know
some of them, and they don't work" M.Jordan
Member
Posted 22 May 2017 - 07:37 PM
just a few thoughts here. after looking at the charts of the stocks and the dollar and reading the posts on here i believe that
wave 3 in the hui started may 4 and wave 3 in gld started may 9
targets would be about 425 for the hui and 145 to 150 for gld
if you look at the chart of hl that helps to clarify the big picture imo
well that would screw up a lot of folks who are looking for a pullback into June to buy
Senor
Member
Posted 22 May 2017 - 10:31 PM
the market does always seem to find a way to mess with us ha ha. i am very comfortable here letting things unfold
Member
Posted 22 May 2017 - 11:58 PM
the market does always seem to find a way to mess with us ha ha. i am very comfortable here letting things unfold
agree, worse case is a modest continuing corrective decline(wave "c" if we are now ending "b") IMO with what look like 5-wave rallies in the GDX/XAU/HUI in place from early May
Senor
Member
Posted 23 May 2017 - 01:08 AM
Member
Posted 23 May 2017 - 07:28 AM
Week of June 16- fits with what Armstrong was calling for trend change on 19 June 17.
Member
Posted 23 May 2017 - 09:44 AM
Also Edelson Institue is also looking for higher silver prices
https://www.edelsoni...ottom/?sc=WAV-E
Member
Posted 23 May 2017 - 10:11 AM
that is the week the fed meets and will most probably hike(in refference to the above conversation). the fed is trying to get rates to a point , where if a recession occurs(likely , this advance is very long in the tooth=8yrs) they have room to lower. anyway, a hike should rally gold, the last 3 hikes have rallied gold. HOWEVER if you step back and go to 15 every thing since than has been a consolidation. a tr. money velocity has been going down, and continues to go down. perhaps another hike will turn money velocity in an upward direction, which imo needs to happen at some point, for a real bull market to occur in gold. the infrastructure for a real gold bull market is now in place. the environment needs to change. increasing money velocity would be a big sign of that taking place. ie folks would not want to hold onto money they would buy their needs sooner ie food etc. i think that is about to happen w/this next hike. i do feel this 1213 low was a good low. all the signs were there. shouts for new lows,capitulations in the miners, and a very heavy feel to the market. right now the market is more firm on sound footing. the cots have also vastly improved.
i dont buy armstrongs sling shot theory. interesting. but i dont think it is necessary, but what do i know? this 1261 is acting as strong resistance, so a correction is in order, the market is spinning its wheels using up energy.. above there is the gateway to higher prices and a test of the downtrend line from the 11 highs. to gann significant highs and lows act as the stages of the moon pulling and pushing on the tides. 1261 resistance is from the 252 lowest point in gold. anyway, we are getting closer. and closer.
dharma
Edited by dharma, 23 May 2017 - 10:12 AM.
