1010 replies to this topic

[dougie]

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

that volume off the top in SPY early August was a site to behold

[Smithy]

On 24 August 1857, 162 years ago, a major company failure triggered the first US financial crisis.

 

On 24 August 1987 was one day from the pre-crash high of 1987.

 

For the astro nuts, both are on Solar Saros 132, which arrives again 12/26/19.

Edited by Smithy, 14 August 2019 - 04:13 PM.

[stubaby]

 

 

 

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

 

primary - http://schrts.co/eSKhpnrk

alternative - http://schrts.co/abiJdsIw

 

I do not see a completed wave count yet to indicate a major correction/retracement ahead, FWIW

Edited by stubaby, 14 August 2019 - 04:51 PM.

[gannman]

looking at the charts it looks like the stocks peaked on aug 7 and that gld and slv peaked today

 

that would be the end of wave i of primary wave 3 imo. so the stocks should finish correcting first

 

and start going up followed by gld and slv. perhaps we correct into the end of next week just a guess

 

bottom line imo stay long not worth it to trade out of this at least not for me this is a wave 3 

[hhh]

GDXJ is up 0.86% after hours on declining gold and silver price (-0.07 and -0.39% respectively.)

[dougie]

 

 

 

 

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

 

primary - http://schrts.co/eSKhpnrk

alternative - http://schrts.co/abiJdsIw

 

I do not see a completed wave count yet to indicate a major correction/retracement ahead, FWIW

 

thanks

[dougie]

was silver move lower a headfake; sure looking like it tonight...

[hhh]

There's no doubt gold and silver are acting like they're in bull markets. Surprises mostly are to the upside. Here's an alternate view:

https://stockcharts....tbook/385293109

[Russ]

There's no doubt gold and silver are acting like they're in bull markets. Surprises mostly are to the upside. Here's an alternate view:

https://stockcharts....tbook/385293109

I think that view for gold to make a lower low into late 2020 will be wrong, I am seeing the exact opposite, gold should make a major high around the US presidential election, but later gold could go up into 2032.95 in Armstrong's view,  the chart also projects a huge low in 2035 which will be about 3 years after Martin Armstrong's major pi cycle high in 2032.95 which should the produce the 'crash and burn' of western civilization... 

Edited by Russ, 15 August 2019 - 12:53 AM.

[dougie]

was silver move lower a headfake; sure looking like it tonight...

probably jinxed it