1565 replies to this topic

[dharma]

today is hadiks date

yes, there are a series of 1/2 1/2 i/ii but no 5 wave structure. so while it is interesting . there is nothing definitively bullish.  mining supply is definitely in decline. there have been few if any large finds, like in past times.  we are in the slow part of the year for gold. the monsoon has yet to begin in india.  i dont see large demand coming into the market. we may have to wait awhile longer for the bull to begin, but my work and the fractal shows 78 as a pivotal year as i believe 18 will be.  its coming . inflation #s will be prevalent later in the year.  so, while hadik may be right. and i am open to that, i am inclined towards later this year. 

dharma

[dougie]

Nice gap fill

[K Wave]

Like I said yesterday, Gold below 1318 could lead to problems...

 

Unless bulls can pull off some sort of miracle reversal here today, this starting to not look so good more intermediate term..

 

What we have here so far is a complete failure to breakout, followed by hard down..this could last a while....

 

TLT also gapped 118 level this AM...

[dharma]

this finishes 2 of c, now we need to see bottoming action, and then we are ready for impulsive structure. i had to figure w/all the attempts to break 1300 the bears had to see what stops lie below the fortress of the round # . now we wait for bottoming action.  it is the weak time of year after all http://seasonalchart...ssics_gold.html

stay alert here , this low is 5of c of 2 of 3  imo.  a day after hadiks low. dollar is also topping out.  

dharma

[Smithy]

Lotta people calling for a bottom in gold this week. Will they all be right?

[jabat]

According to Highlander at other forum

 

timewise - Mercury says it May 20th area

 

timewise, Mercury still says May 20th area

 

[Smithy]

Thanks Jabat. USDCHF showing surprising strength today against the roaring USD. 

[senorBS]

so many more bullish divergences between golds new lows today and the miner stocks, CRB remains nicely (203.40 area) above 200 after its recent breakout, gold very oversold daily, COT's "friendly", dollar index likely in wave 5 of C daily and nearing a top - 2nd RSI bearish divergence occurring "at this time", and gold/silver ratio "diverges" as well and remains below 80 and looks bearish. My weight of evidence suggest to accumulate miners here (have added) and that downside is limited but as always one must USE STOPS and DYODD and its only a best guess

 

Senor

[senorBS]

this finishes 2 of c, now we need to see bottoming action, and then we are ready for impulsive structure. i had to figure w/all the attempts to break 1300 the bears had to see what stops lie below the fortress of the round # . now we wait for bottoming action.  it is the weak time of year after all http://seasonalchart...ssics_gold.html

stay alert here , this low is 5of c of 2 of 3  imo.  a day after hadiks low. dollar is also topping out.  

dharma

Si Si Si amigo, fully agree

 

NO BS

 

Senor

[dharma]

so many more bullish divergences between golds new lows today and the miner stocks, CRB remains nicely (203.40 area) above 200 after its recent breakout, gold very oversold daily, COT's "friendly", dollar index likely in wave 5 of C daily and nearing a top - 2nd RSI bearish divergence occurring "at this time", and gold/silver ratio "diverges" as well and remains below 80 and looks bearish. My weight of evidence suggest to accumulate miners here (have added) and that downside is limited but as always one must USE STOPS and DYODD and its only a best guess

 

Senor

lots of evidence here that we are bottoming , not starting a new leg down. fridays doji in the dollar is the signal that the dollar is topping. of course all the other colored papers are also worthless and have big problems.  the risk off yen is off the charts when you think of debt/gdp. the dollars 103% looks benign compared to the yen . and the euro is being supported by qe. who would buy their bonds? only the eu itself it seems. my support #s i should say gann 1293,1277,1261 i dont see the 1261 in play, but i dont like to discount that possibility.  we are oversold out to the daily right now. they dumped obnnf today, it looks very attractive, i want to see if there is follow through selling. it will be awhile before it rebounds anyway. i am nibbling on other stuff right now, other than osisko.  this bottoming action could be slow based on the time of year.  although, Turkey added 86 metric tons to its official holdings in the last seven months of 2017.Turkey added another 30 mt of gold to its official reserves in Q1 2018. turkey has joined russia and china diversifying out of dollars and into gold  india inflation http://www.graceland-updates.com/images/stories/18may/2018may15inflation1.png india the people have been bent backwards like forever, they are huge gold hoarders and will continue to do so. 

patience , 

dharma