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


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#471 hhh

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Posted 14 August 2019 - 08:40 AM

I think we just completed a b wave up and need a c wave down to match the a off the top around 1550.



#472 Russ

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Posted 14 August 2019 - 08:48 AM

 

 

Well, I am very bullish here, FWIW  (assuming we hold today's lows through the close).  Filled some gaps, eliminated some weak hands, and all on a news-driven reaction (they are always reversed).

 

http://schrts.co/eSKhpnrk

Interesting that the big gap on xau is sitting right at the .618 retracement level measured from the May low. 

 

I have always considered that a "breakaway" gap, because of its position and the follow-through of price after.  My impression is that the 2011-2015 bear market and the long wave 2 after the 2016 "rocket" have kept investors disinterested and leery - not many are positioned, many are waiting for a correction, and many are trading out - and as dharma says will have to buy higher to get back in.  I don't know what will happen next, but my impression is that there is more near-term upside.

 

FWIW, my alt count:

 

http://schrts.co/abiJdsIw

 

Well you and Senor are  bullish which is worth paying attention to,  my longer term is bullish for gold and I could be wrong on near term weakness, we'll see. 


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"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



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#473 K Wave

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Posted 14 August 2019 - 08:52 AM

Looks like we may get that few more days....

 

142 GLD should be the stop now...back below that again, and the big leg up most likely done...



#474 dharma

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Posted 14 August 2019 - 09:32 AM

those divergences on the miners are typical bull market action, it usually gets resolved w/a new high oscillator reading

the nice thing about just sitting is , i dont get snaked out by thinking we topped.  i do think the broad market is going to have a crash event

if so , i have never seen a crash that didnt pull the pms down w/it,but then comes the rocket ride

i do think most missed the move and the public wont be interested until new highs

sitting tight

dharma

i do not think there will be a china deal, that and the bus fare will get you on the bus



#475 senorBS

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Posted 14 August 2019 - 09:57 AM

 

 

 

Well, I am very bullish here, FWIW  (assuming we hold today's lows through the close).  Filled some gaps, eliminated some weak hands, and all on a news-driven reaction (they are always reversed).

 

http://schrts.co/eSKhpnrk

Interesting that the big gap on xau is sitting right at the .618 retracement level measured from the May low. 

 

I have always considered that a "breakaway" gap, because of its position and the follow-through of price after.  My impression is that the 2011-2015 bear market and the long wave 2 after the 2016 "rocket" have kept investors disinterested and leery - not many are positioned, many are waiting for a correction, and many are trading out - and as dharma says will have to buy higher to get back in.  I don't know what will happen next, but my impression is that there is more near-term upside.

 

FWIW, my alt count:

 

http://schrts.co/abiJdsIw

 

Well you and Senor are  bullish which is worth paying attention to,  my longer term is bullish for gold and I could be wrong on near term weakness, we'll see. 

 

I think we are seeing significant "internal corrections" in select issues and indices. SILJ fell to 10 yesterday, CDE and FSM undergoing significant pullbacks and we could see somewhat more, with interest rates plunging and the TYX (30 yr) getting very close

to the 2% level which I believe is impt "psychologically", I am looking at a lot of the HUI/Gold ratio type charts and

they have been correcting for a while already, yeah we could correct lower but we also may not, long and string here

 

Senor


Edited by senorBS, 14 August 2019 - 10:06 AM.


#476 senorBS

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Posted 14 August 2019 - 10:29 AM

Dow is possibly entering a large wave 3 down and it"might" get very ugly later today onto tomorrow, looks headed toward the June low IMO, if that happens expect some of the miners to weaken, maybe the silver sector moreso, so I will have some "stink bids" in just in case, just my dos centavos

 

Senor



#477 dharma

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Posted 14 August 2019 - 11:09 AM

the dsi fell 11 to 83% which is its lowest level since the fed on july 31

yes,on the stink bids , in on silj

the fed is waiting in the wings w/ a .5% cut,in sept.this after the raise in dec.  these are the people that you want running the country's bank!!!!

correction or consolidation. imo this is the place to be  debt is piled sky high w/a trillion in debt payments so far this year. 

 

dharma



#478 gannman

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Posted 14 August 2019 - 11:54 AM

There is a chance that pullback yesterday was the whole wave 2 correction . If so we will start to see gold and silver have large gaps up as gld moves rapidly into the 160,s I don't know the action will tell us

If not we will start to correct I lean towards the first scenario fwiw but I am always optimistic
feeling mellow with the yellow metal


#479 dharma

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Posted 14 August 2019 - 02:28 PM

ryanoo posted this https://pbs.twimg.co...AJ4XUAAQfrs.png its a good reminder of what happens after a string of 95 dsi readings

i dont think we consolidate too long in this correction. but i am feeling blast off is coming very soon.

i watch db=6.75   make new lows below 6.5 and the big fish may begin its descent into oblivion

my feeling fwiw is silver is going to lead sometime on the next leg. there are not many pure silver miners out there

dharma

gannman your opinion and optimism are always welcome



#480 dougie

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Posted 14 August 2019 - 02:37 PM

 

 

Well, I am very bullish here, FWIW  (assuming we hold today's lows through the close).  Filled some gaps, eliminated some weak hands, and all on a news-driven reaction (they are always reversed).

 

http://schrts.co/eSKhpnrk

Interesting that the big gap on xau is sitting right at the .618 retracement level measured from the May low. 

 

I have always considered that a "breakaway" gap, because of its position and the follow-through of price after.  My impression is that the 2011-2015 bear market and the long wave 2 after the 2016 "rocket" have kept investors disinterested and leery - not many are positioned, many are waiting for a correction, and many are trading out - and as dharma says will have to buy higher to get back in.  I don't know what will happen next, but my impression is that there is more near-term upside.

 

FWIW, my alt count:

 

http://schrts.co/abiJdsIw

 

Stu what is your primary count then? TIA