575 replies to this topic

[gannman]

one thing i am looking at here the first wave up in gld was about 30 points  from about 100 to 130

 

now we are correcting this in what i think is a C wave of and ABC , where ever gld finds its bottom at

 

and i dont know where that will be i would think that wave 3 would be at least 40 points 

 

so if we bottom at 110 lets say and i am just using that number as an example then i would expect 

 

to see 150 at least in gld possibly considerably more but 150 would be a min, 

 

so the upside here is significant but of course first we have to put in a bottom ha ha

[kssmibotm]

How about wave C of 2 down?

 

Edited by kssmibotm, 07 May 2017 - 12:43 PM.

[dougie]

How about wave C of 2 down?

 

My eyes are not good enough to see what that is a chart of not to mention targets. Any chance you could post something larger? Thanks

[kssmibotm]

 

How about wave C of 2 down?

 

My eyes are not good enough to see what that is a chart of not to mention targets. Any chance you could post something larger? Thanks

 

Sorry, it not my chart.  I cannot make it larger without losing resolution. The chart is for gold, and C of II is ending in Jan 2018 in the 800's.

[gannman]

trouble coming in the high yield corporate bond market ? looking at the chart of hyg imo it has done or just about done 5 waves up 

 

from the early 2016 lows.  how a sell off here affects gld i dont know but it sure looks to me that we are close to a top in hyg

[dougie]

How about wave C of 2 down?
 

My eyes are not good enough to see what that is a chart of not to mention targets. Any chance you could post something larger? Thanks

Sorry, it not my chart.  I cannot make it larger without losing resolution. The chart is for gold, and C of II is ending in Jan 2018 in the 800's.

Can't rule it out to be sure.

[dharma]

i dont know what the record is , but 14 down days straight must be some kind of record, until friday that was silvers path.  as of last tuesday the commercials covered 20k  silver contracts. of course, the commercials  are not the producers, but the banksters.  one of the cycles i follow is the 17 week cycle. , and that is not its exact length, and it bottomed on may 3-5. in the next couple of days this bottom should be complete. 

until we break out of this 2 yr base, consolidation its all just background noise.  gold needs to get above 1400 to show continuation of the trend. 

the evidence is the system is very extended. 

dharma

[dharma]

love all the bearish talk. it is afterall a market

slowly accumulating silver.  14 down days straight has the market, i believe, quite compressed

bear or bull it should be a rocket ride out of here

trading this thing

dharma

[dharma]

gann said beware of years ending in 7 . anytime now i am looking for gold to rally . and after that rally  the broad market could hit the skids.  in a crash, if that is how it plays out., gold will not withstand those winds.  wave 3 will have to wait.   i am looking for a september bottom and a good year end rally.  for now , its a short term wait.   hopefully.    1220 was good support and the market went through it quite easily. 

happened to look at the bit coin chart this morning , this thing is performing very well, its in the stratosphere.  

dharma

[senorBS]

wanted to mention this in this thread as well;

 

And we currently have significant daily oversold conditions with divergences into recent lows, and we've seen GDXJ assets fall from near 5.5 bil to 4.1 billion (25%) in less than a month and GDX fall about 19% in the same time frame - sorta seems to support a wave 2 washout? who knows? I have my stops not too far away and I like the bullish/risk/reward against those stops. and another day with decent miner relative strength, as always DYODD

 

Senor

Edited by senorBS, 09 May 2017 - 10:29 AM.