634 replies to this topic

[dougie]

OK gang the ONE bear count I see is in GLD/gold, which could be ending a wave B contracting triangle from the Oct. 6 low (possible wave "A"), as long as we stay below GLD 123.17 (gold 1297) we could be ending wave "e" of B. I don't really favor this count but I felt I should point it out to you because it's valid. If it played out it would require an ending thrust below that Oct 6 low at 119.78, gold 1260.59). That;s all I got folks
 
Senor

That is my favored would chew up a week or two to complete

[senorBS]

interesting here with gold at 1294, ABX 14.19 and Nem at 36.80! top here or motor a good bit higher? Place yer bets ladies and gentlemen

 

Senor

[Russ]

Dust is not looking bullish at all and it has a trend for a low in January, this combined with the dollar falling apart should keep pushing gold up...

 

[senorBS]

dollar also reversed lower today and a large corrective rally "might" have ended

 

Senor

[senorBS]

another tidbit from the CRB today with with today's solid rally it looks to have ended a several day consolidation/correction and appears to be resuming what I believe is a large wave 3 rally that should carry well above 200, today's action has CRB up 1.78 at 191.60

 

More BS

 

Senor

[dharma]

yes, under republican presidents the dollar tends to fall. and i think the move is just getting started

 the thing that has my attention is the large inverse h&s pattern on the monthly gld chart. now granted we have not pierced the neckline which would activate the pattern, but that could come at any time. also , if one looks at a monthly gdx chart there is an inverse h&s pattern there as well. this is a dominant pattern one that takes precedence. i dont claim to know when , but the pattern will be activated

well its our 2nd time here in the last few days. it looks like we are at the starting block for some price appreciation.  havent said this in a while buckle up arms and legs in the vehicle!

dharma

[Smithy]

Those who favor a "low in December" (4 of the last 5 years)  for which the 18th is the idealized date would support Senor's B wave triangle, as opposed to the bulls armed with seasonals and cycles (8 yr,, 23 mo. and 55 mo.) that point up from here.

-- Is only resolved above 1306, until then we're in suspense.

[Smithy]

The top 5 gold timers as of a week ago, courtesy of Timer Digest

 

[Smithy]

Twiggy Weds 11/22 -

The falling Dollar strengthened demand for gold which is testing the band of resistance around $1300/ounce. Upward breakout is likely and would target the September high of $1350. Breach of primary support at $1260 is most unlikely but would be a strong bear signal for gold.

[gannman]

I am liking a final pullback into early Dec fwiw