634 replies to this topic

[dharma]

yes, it looks like an inverse h&s pattern

if you put up a long term daily of the hui, we are right at the tl . my guess we break that,its what happens next that is of interest

dharma

[senorBS]

Gang, watch the GSR here as it's declined to a key support area that has held since mid June - that level is at 74 plus or minus a bit, today's sharp GSR decline has taken it to 74.40 so we are testing that support. 74.39 is the last trade and 74.19 was recent decline low "so far"

 

Senor

[Smithy]

[senorBS]

don't fully trust this rally and I see "possible" ending wave 'e" of bearish contracting triangles basis hourly charts (GDX and XAU) - if correct ONE more thrust down to buy so reduced longs back to 20% long - take out today's miner index/ETF highs by much and I get a lot more near term bullish. Keep in mind that the thrust down "if" we get it could be a very good point to buy below GDX 22.30 and XAU below 80.66 - not really that far away, as always DYDD

 

Senor

[dharma]

lots of cross currents today w/all the news.  powell in as fed head,  its a political appointment ,say one thing do another. who knows what he will be as fed head????

waiting for the dust to settle . 

all the promises to help the middle class which in the end has gotten the fuzzy end of the stick . 

taxes = control

read my lips "no new taxes", oops sorry , well that cost him reelection. 

what i do know is this expansion, if that is what you want to call it , is very long in the tooth.   

oil starting to show some life. industrial metals on a tear.  golds day in the sun is not far away,  its a matter of a better entry.   which could be 100away.

miners are going to go from hated to loved. the metrics for valuing the sector will change, i saw it happen last time. will this time be different?

powell will change the trend of money velocity. its all a matter of time.  those mountains of debt will not just disappear.  they are pervasive

dharma 

[dougie]

don't fully trust this rally and I see "possible" ending wave 'e" of bearish contracting triangles basis hourly charts (GDX and XAU) - if correct ONE more thrust down to buy so reduced longs back to 20% long - take out today's miner index/ETF highs by much and I get a lot more near term bullish. Keep in mind that the thrust down "if" we get it could be a very good point to buy below GDX 22.30 and XAU below 80.66 - not really that far away, as always DYDD
 
Senor

Abcde works...
1-2 1-2 works?

One more thrust could go much deeper imo as LT support would be taken out

[dharma]

derivatives are the ticking time bomb

http://www.visualcap...alization-2017/

 

dharma

[senorBS]

 

don't fully trust this rally and I see "possible" ending wave 'e" of bearish contracting triangles basis hourly charts (GDX and XAU) - if correct ONE more thrust down to buy so reduced longs back to 20% long - take out today's miner index/ETF highs by much and I get a lot more near term bullish. Keep in mind that the thrust down "if" we get it could be a very good point to buy below GDX 22.30 and XAU below 80.66 - not really that far away, as always DYDD
 
Senor

Abcde works...
1-2 1-2 works?

One more thrust could go much deeper imo as LT support would be taken out

 

highly unlikely IMO but one of course can rule nothing out, we see. Looks like sloppy/choppy/ugly bottoming action IMO in the miners. Silver looks pretty good IMO

 

Senor

[Russ]

This signal is not completely confirmed but it looks likely , a low in gold/gld in late Nov. 

Edited by Russ, 02 November 2017 - 10:51 PM.

[dougie]

don't fully trust this rally and I see "possible" ending wave 'e" of bearish contracting triangles basis hourly charts (GDX and XAU) - if correct ONE more thrust down to buy so reduced longs back to 20% long - take out today's miner index/ETF highs by much and I get a lot more near term bullish. Keep in mind that the thrust down "if" we get it could be a very good point to buy below GDX 22.30 and XAU below 80.66 - not really that far away, as always DYDD
 
Senor

Abcde works...
1-2 1-2 works?
One more thrust could go much deeper imo as LT support would be taken out

highly unlikely IMO but one of course can rule nothing out, we see. Looks like sloppy/choppy/ugly bottoming action IMO in the miners. Silver looks pretty good IMO
 
Senor

Highlight unlikely being "much deeper"?