1565 replies to this topic

[senorBS]

looks like HUI/gold ratio "might" be done as well, lets see if we finally start seeing some better relative strength in the miners, note that GDXJ did NOT take out the last low when gold did - interesting "so far"
 

 

Senor

[dharma]

neither gdx/or gdxj have taken out their feb lows.  while gold did take out its feb lows. =divergences.  personally i want to see more bottoming action so far this bounce is creating divergent price action and is impressive.  a reversal day would seal the deal  remember should that occur the next day its normal to trade into 50% of todays range , tomorrow

now back to 1309 will it be resistance or support

dharma

[stubaby]

Looks like we are in a minor Wave 4 now of Wave 3 of 3 off of the late January peak - would mean three sets of 4-5's to go (two after this minor 4-5 is finished) to complete this down sequence, FWIW

[dharma]

Looks like we are in a minor Wave 4 now of Wave 3 of 3 off of the late January peak - would mean three sets of 4-5's to go (two after this minor 4-5 is finished) to complete this down sequence, FWIW

that is a possibility.  right now i see hourly divergences in gld. i cant begin to count how many times i waited for those last waves to finish. and the market had already finished.  gdx/gdxj did not follow gold to new lows. oversold but no hourly divergences 1309 the magnet. so far today.  not in a hurry but keenly watching

dharma

[senorBS]

Looks like we are in a minor Wave 4 now of Wave 3 of 3 off of the late January peak - would mean three sets of 4-5's to go (two after this minor 4-5 is finished) to complete this down sequence, FWIW

I don't think so as I has silver thrusting down and possible done in wave C out of a wave B contracting tri and I have gold as a really nice double zigzag from the Jan high and very possibly done, I see no need for more downside, just my take. What I also like is that miners are perhaps today breaking the recent correlation with the Dow and S&P - thats huge if it is sustained. Love what I see so far, love to see a strong close

 

Senor

[dharma]

gdx/gdxj  didnt follow the broads down  or gold to new lows and are now positive on the day. 

doing some light buying

dharma 

[johngeorge]

dharma "doing some light buying"  I was doing so a couple hours ago.  May add more before the close.

[dougie]

Got to like this action
One day does not make a new trend but we see

Looks like we are in a minor Wave 4 now of Wave 3 of 3 off of the late January peak - would mean three sets of 4-5's to go (two after this minor 4-5 is finished) to complete this down sequence, FWIW

I don't think so as I has silver thrusting down and possible done in wave C out of a wave B contracting tri and I have gold as a really nice double zigzag from the Jan high and very possibly done, I see no need for more downside, just my take. What I also like is that miners are perhaps today breaking the recent correlation with the Dow and S&P - thats huge if it is sustained. Love what I see so far, love to see a strong close
 
Senor

[senorBS]

Got to like this action
One day does not make a new trend but we see

 

Looks like we are in a minor Wave 4 now of Wave 3 of 3 off of the late January peak - would mean three sets of 4-5's to go (two after this minor 4-5 is finished) to complete this down sequence, FWIW

I don't think so as I has silver thrusting down and possible done in wave C out of a wave B contracting tri and I have gold as a really nice double zigzag from the Jan high and very possibly done, I see no need for more downside, just my take. What I also like is that miners are perhaps today breaking the recent correlation with the Dow and S&P - thats huge if it is sustained. Love what I see so far, love to see a strong close
 
Senor

 

agree, lots of good looking charts for possible key lows, and lots of  daily divergences in HUI etc, also HUI/Gold ratio has TWO daily divergences with yesterday's major new "intraday" low below .13 and a higher close, solid up day would be bueno

 

Senor

[Smithy]

GSR needs to break that line in the sand