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out on a limb! bottom for wave 2 in !?


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#1001 senorBS

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Posted 24 September 2019 - 07:54 AM

It makes Zero sense to me that silver should stop here for an extended time

It should get to at least the 2016 high given how much further ahead gold is at this point

Plus look at cde leading the pack on massive volume

We are in the epicenter of mass bullish seasonals now

I am surprised that Jordan Roy byrne(thedailygold.com) is calling for a 9 to 12 month correction before metals can take out the 2016 highs

If you look at the long term quarterly gold chart you can see that good had based for 6 years or 24 quarterly bars

Now we have advanced only 2 to 3 bars

There is plenty of cause for an extended run

no disagreement, but as I just wrote in the other thread we could complete 5 up weekly (XAU/GDX/GDXJ/HUI/SLV) from the later 2018 lows over the next 2-4 weeks, and NOT take out 2016 highs and then correct the entire rally from late 2018 - would be a very bullish set up but allows for a significant wave 2 correction, I actually think it may be "more bullish" than that (upside extension) but always good to have a few different and valid scenarios in mind

 

nice to get the 1000th post in!purebs.gif

 

Senor


Edited by senorBS, 24 September 2019 - 07:55 AM.


#1002 Russ

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Posted 25 September 2019 - 05:41 AM

I know I sound like a nut but unless we get bad news this is a false  breakout I believe....  Lay around test back down to 1511 this week. Bulls better hope that holds cause 1492 next then 1460...   But If we go down my guess is 1511 holds it. I must admit I sold my Silver Longs, and my Barrick long to early.  BUT had I been in I would be bailing out the window right here a happy camper.

 

Best

Armstrong:  "I have warned that the immediate rally in the precious metals was NOT a breakout. I warned that there would still be one more decline to retest support. The critical factor is when the GENERAL public loses confidence in the government. That is more likely to take place AFTER the turn in the business cycle in January 2020."  https://www.armstron...ncy-reset-gold/   My forecast for a low in early November is still on this chart, I am also wondering if there is a Terry Laundry 'T' on the chart (gold vertical lines) 


"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



http://marketvisions.blogspot.com/

#1003 dougie

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Posted 25 September 2019 - 02:06 PM

could well be Russ.
Sure seems likely we have a weekly gold high now

#1004 dougie

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Posted 25 September 2019 - 02:10 PM

a sharp sell of here in DUSt however would get the early bears back into hibernation

#1005 Russ

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Posted 25 September 2019 - 05:02 PM

a sharp sell of here in DUSt however would get the early bears back into hibernation

Nope,  Dust has the inverse signal on it, it should go up into mid Nov. and is showing an inverse H&S on the chart. cool.png   The approx. $30 selloff in gold today looks pretty impulsive to me. I would not be surprised to see gold futures close the 1348 gap, a test of the breakout as Armstrong wrote.  


"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



http://marketvisions.blogspot.com/

#1006 dougie

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Posted 26 September 2019 - 01:25 AM

could well be russ

#1007 ryanoo

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Posted 26 September 2019 - 02:11 PM

This tweet seems to suggest 2019 is not like 1995 or 1998, but more like 2007 or even 2000?

https://twitter.com/...187087071809536

It may be better for gold bulls.



#1008 tradesurfer

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Posted 30 September 2019 - 09:28 AM

Hey Russ, so your buy target on GDX is 24 which is a gap fill and measurement fulfillment of the head and shoulders top ?

 

seems like a great KISS buy



#1009 Russ

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Posted 01 October 2019 - 02:24 AM

Hey Russ, so your buy target on GDX is 24 which is a gap fill and measurement fulfillment of the head and shoulders top ?

 

seems like a great KISS buy

I don't know if 24 gdx will stop the decline, but with that gap there it could,  gold futures has a gap around 1348 which could get filled, the important thing in my work is the signal does not bottom until mid November, that will be the time to load the boats. 


"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



http://marketvisions.blogspot.com/

#1010 gannman

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Posted 01 October 2019 - 02:19 PM

i have a turn on gld right around the close on friday fwiw


feeling mellow with the yellow metal