Member
Posted 22 January 2019 - 11:29 AM
Senor, does the double bottom (A and C) cut the mustard or do you need it to go below?
The 5 waves down look complete to my untutored eye.
like I said - 50/50, sorta looks done to me as well especially when I look at 1-6 hr charts,but we aren't very far away if it wants to go down one more time, assuming this count is correct
Senor
Member
Posted 22 January 2019 - 12:38 PM
miners lead up and down.
the big volume days in gold were to the upside. and since the decline has taken place volume has become less and less.
what i see is east indians have been out of the market and they are arguably the largest buyers in the world https://www.telegrap...nda/cid/1682331
so the price drift lower has been in force. every time there is an opportunity for the indian govt to prop up the sector they do just the opposite . so its difficult to get too optimistic here. but the point is , indian buyers are holding off purchases until the govt budget is announced on the 1st of feb. and they have been out of the market.
just as the gdx had a big volume outside day so has gold . breaking above it is the solution for the bullish case, if not then 1235 is 50% of the rally retracement
the tides are shifting but slowly .
the rally in the broad market has all the ear marks of a bear market rally. the biz leaders in davos are not cheery
dharma
ps in case you are wondering about the government shutdown congress voted to pay themselves while the government is shut. no other government workers will be paid. a government of the people by the people and for the people sounds great
Edited by dharma, 22 January 2019 - 12:40 PM.
Member
Posted 22 January 2019 - 01:37 PM
Senor, does the double bottom (A and C) cut the mustard or do you need it to go below?
The 5 waves down look complete to my untutored eye.
well amigo off the low it looks like a "possible" 1/2, i/ii basis hourly charts with iii getting underway now with the marginal new recovery high we just made, sort of a no excuses time here for the near term
Senor
Member
Posted 23 January 2019 - 12:00 PM
this chart vs s&p is interesting perspective. https://kingworldnew...19-924x1024.jpg
gold has to prove itself by getting above 1300. i feel most comfortable when the miners lead. dow was +290 this am now down could be the
start of the next leg
i am bullish the metals w/the caveat that gold has to prove it to me by 1st breaking above 1300 and then above the 1360-80 previous tops. otherwise
we could be back in the gulag
dharma
Member
Posted 23 January 2019 - 12:10 PM
Possible 3 white soldiers forming on GDX hourly chart after the gap down...
Was that the pullback low we just saw?
Now we see if bulls can reclaim 21....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 23 January 2019 - 01:16 PM
GDX signal (posted a few weeks ago on here) for a low last friday the 18th looks to be correct...
Edited by Russ, 23 January 2019 - 01:17 PM.
Member
Posted 24 January 2019 - 11:23 AM
unless this is a 1-2 i-ii it looks corrective
Member
Posted 24 January 2019 - 11:48 AM
NO matter what is going on in the broad market , the gold market remains firm . which is a positive. not inspiring to place a big bet.
i am intrigued by platinum. . the sppp has price appreciation built into the price any ideas of a different vehicle?
miners outgained the metals yesterday , which is always a good sign
i am just sitting. cash in hand. lots of possible catalysts coming up. the indian budget is the one i find intriguing feb 1
the fed on deck. i dont expect powell to make waves at this meeting
government strike continues
dharma
Member
Posted 24 January 2019 - 12:09 PM
NO matter what is going on in the broad market , the gold market remains firm . which is a positive. not inspiring to place a big bet.
i am intrigued by platinum. . the sppp has price appreciation built into the price any ideas of a different vehicle?
miners outgained the metals yesterday , which is always a good sign
i am just sitting. cash in hand. lots of possible catalysts coming up. the indian budget is the one i find intriguing feb 1
the fed on deck. i dont expect powell to make waves at this meeting
government strike continues
dharma
are you all in cash amigo? do you have any longs or a core position? I am currently about 30% long, amazing that gold since its Jan 4 high near 1298.50 gold has traded in a $12 range, "so far" I consider that a very high level consolidation
Senor
Edited by senorBS, 24 January 2019 - 12:10 PM.
Member
Posted 24 January 2019 - 12:30 PM
NO matter what is going on in the broad market , the gold market remains firm . which is a positive. not inspiring to place a big bet.
i am intrigued by platinum. . the sppp has price appreciation built into the price any ideas of a different vehicle?
miners outgained the metals yesterday , which is always a good sign
i am just sitting. cash in hand. lots of possible catalysts coming up. the indian budget is the one i find intriguing feb 1
the fed on deck. i dont expect powell to make waves at this meeting
government strike continues
dharma
are you all in cash amigo? do you have any longs or a core position? I am currently about 30% long, amazing that gold since its Jan 4 high near 1298.50 gold has traded in a $12 range, "so far" I consider that a very high level consolidation
Senor
agree on high llevel consolidation. i am long , long very long. but i have about 30%-40% cash. i sold gg. which i have had for quite some time. like more than a decade. i am of the mind we get resolution of this tr soon. we shall see
dharma
