1010 replies to this topic

[K Wave]

Bulls losing grip on GLD 142??

 

Most dangerous time for sharp decline right now, if bulls cant reclaim 142 pronto...

 

If we do get the washout, ready reload in a big way, but for now, enjoying the DUSTy ride...

[hhh]

I can see GDXJ forming a bullish Gartley possibly. It would target 37.6 before going up I think. I don't have time to run the ratios right now. I'm paralleling the downtrend formed from the peaks after Aug 1 (the X point): Aug 7 and Aug 28.

Gartley came in at 37.8, bought JNUG at 67.42.

[dharma]

corrections are part of the process. they are healthy

my job here is to determine when the correction is over so i can buy

captain Ewave

GOLD

 

Our current count for all of wave -iii- is:

 

.i. = 1297.40;

.ii.:

*a* = 1214.30;

*b* = 1298.80;

*c* = 1204.00;

*x* = 1362.40;

*a*:

^a^ = 1262.80;

^b^ triangle = 1292.50;

^c^ = 1238.30 to complete *a*;

*b*:

^a^ = 1365.40;

^b^:

$a$ = 1309.00;

$b$ = 1364.40;

$c$ = 1303.60 to complete ^b^;

^c^ diagonal triangle = 1368.40, to complete wave *b*;

*c*:

$i$ = 1281.20;

$ii$ = 1313.00;

$iii$ =1238.80;

$iv$ = 1266.90;

$v$ = 1167.10, if complete, to complete wave *c* and all of wave .ii.

.iii.:

$i$ =1220.70;

$ii$ =1184.30;

$iii$:

!i! = 1246.00;

!ii! = 1196.60;

!iii!:

?i? = 1230.90;

?ii? = 1210.50;

?iii? = 1256.60;

?iv? = 1244.40;

?v? = 1300.40, to complete all of wave !iii!;

!iv! = 1275.40;

!v! = 1331.04 to complete all of wave $iii$;

$iv$ = 1304.70;

$v$ = 1349.80 to complete all of wave *i*;

*ii* = 1267.30;

*iii* = 1565.00, if complete;

*iv* drop is now underway;

*v* rally after wave *iv* ends, to complete wave iii.

 

SILVER

 

Our current count for all of wave ii is:

 

ii:

.a. = 18.46;

.b. triangle = 19.77;

.c. = 15.68;

.x. = 18.66;

.a. = 14.34;

.b. triangle = 17.36:

.c.:

^i^ = 16.07;

^ii^ = 17.35;

^iii^ = 13.96;

^iv^ = 14.92;

^v^ = 13.86, to complete all of wave .c. and ii;

iii:

.i.:

^i^ = 14.54;

^ii^ = 14.05;

^iii^ = 16.20;

^iv^ = 15.45;

^v^ = 16.20 to complete all of wave .i.;

.ii.:

^a^ = 14.98;

^b^ = 15.65;

^c^:

!i! = 14.86;

!ii! = 15.31;

!iii! = 14.70;

!iv! = 15.12;

!v! = 14.27, to complete all wave ^c^ and .ii.; .

.iii. = 19.75, if complete;

.iv. drop is now underway;

.v. rally after wave .iv. to complete wave iii.

it seems early, time wise for the correction to be complete!? but i am on my toes. so far this advance has been a pretty normal bullish advance.  the fed is on deck the 17-18 . my guess is they do a 1/4 setting the stage for stock market disappointment. if you look at the broader averages eg iwm they are lagging badly, a warning sign

dharma

[senorBS]

Love the action, especially silver related, the SILJ:SLV ratio which I believe had a large 5 up from its May 30 bottom IMO

has a Bueno chance to be ending a large C wave of an ABC correction from the AUG 5th top - yes its been correcting a good bit longer. This likely C wave IMO looks about done, I added more trading positions sub 10 SILJ and sub 4.90 WDOFF, added CDE as well near 4.75, as always DYODD

 

Senor

[stubaby]

corrections are part of the process. they are healthy

my job here is to determine when the correction is over so i can buy

captain Ewave

GOLD

 

Our current count for all of wave -iii- is:

 

.i. = 1297.40;

.ii.:

*a* = 1214.30;

*b* = 1298.80;

*c* = 1204.00;

*x* = 1362.40;

*a*:

^a^ = 1262.80;

^b^ triangle = 1292.50;

^c^ = 1238.30 to complete *a*;

*b*:

^a^ = 1365.40;

^b^:

$a$ = 1309.00;

$b$ = 1364.40;

$c$ = 1303.60 to complete ^b^;

^c^ diagonal triangle = 1368.40, to complete wave *b*;

*c*:

$i$ = 1281.20;

$ii$ = 1313.00;

$iii$ =1238.80;

$iv$ = 1266.90;

$v$ = 1167.10, if complete, to complete wave *c* and all of wave .ii.

.iii.:

$i$ =1220.70;

$ii$ =1184.30;

$iii$:

!i! = 1246.00;

!ii! = 1196.60;

!iii!:

?i? = 1230.90;

?ii? = 1210.50;

?iii? = 1256.60;

?iv? = 1244.40;

?v? = 1300.40, to complete all of wave !iii!;

!iv! = 1275.40;

!v! = 1331.04 to complete all of wave $iii$;

$iv$ = 1304.70;

$v$ = 1349.80 to complete all of wave *i*;

*ii* = 1267.30;

*iii* = 1565.00, if complete;

*iv* drop is now underway;

*v* rally after wave *iv* ends, to complete wave iii.

 

SILVER

 

Our current count for all of wave ii is:

 

ii:

.a. = 18.46;

.b. triangle = 19.77;

.c. = 15.68;

.x. = 18.66;

.a. = 14.34;

.b. triangle = 17.36:

.c.:

^i^ = 16.07;

^ii^ = 17.35;

^iii^ = 13.96;

^iv^ = 14.92;

^v^ = 13.86, to complete all of wave .c. and ii;

iii:

.i.:

^i^ = 14.54;

^ii^ = 14.05;

^iii^ = 16.20;

^iv^ = 15.45;

^v^ = 16.20 to complete all of wave .i.;

.ii.:

^a^ = 14.98;

^b^ = 15.65;

^c^:

!i! = 14.86;

!ii! = 15.31;

!iii! = 14.70;

!iv! = 15.12;

!v! = 14.27, to complete all wave ^c^ and .ii.; .

.iii. = 19.75, if complete;

.iv. drop is now underway;

.v. rally after wave .iv. to complete wave iii.

it seems early, time wise for the correction to be complete!? but i am on my toes. so far this advance has been a pretty normal bullish advance.  the fed is on deck the 17-18 . my guess is they do a 1/4 setting the stage for stock market disappointment. if you look at the broader averages eg iwm they are lagging badly, a warning sign

dharma

dharma - agree with your time-wise comment - maybe completing A in the next day or so of an ABC correction, IMHO  adding at or near the A low will ultimately be very profitable, IF you can hold through the final C down - I like to nibble now and add on the C, FWIW

[dharma]

stubaby, thanks for your comment . there are lots of ways to go about this. one has to know his own tolerance level for pain. selling the bottom, is what the markets want you to do.  i am comfortable here. , so when the pain of the correction comes into play for me, i will buy.  the banksters have a hefty short position as per the cot, when do they play? is it here or do they come out later? their margin requirements are next to nothing so carrying positions is no big deal

bottom line i am in no hurry here. 

the reason i posted the captains counts is if we are in 1v of 3 here . then the next correction will be larger  and that is what i am looking for the next couple of months will be basically choppy. then the bull will return for the impulse higher

dharma

[hhh]

 

I can see GDXJ forming a bullish Gartley possibly. It would target 37.6 before going up I think. I don't have time to run the ratios right now. I'm paralleling the downtrend formed from the peaks after Aug 1 (the X point): Aug 7 and Aug 28.

Gartley came in at 37.8, bought JNUG at 67.42.

 

Out at 72.

[gannman]

I am with stu here let it correct for a while once we resume uptrend

We will have an idea where we are going. Slv moved a fib 5 dollars

I suspect the next leg will be 8 dollars in slv

[dougie]

then up in a 5 wave high in silver before a more substantial 1-2 month correction IMO

That count is at odds with Stu's count.

Stu or me or anyone else has no corner on what the correct count is here - its all subjective and "best guess" as always. Frankly IMO its a count that is hard to argue with unless one is big picture bearish and a large ABC rally from THE low has ended. But as always Ewave is subjective and can morph into other counts, for example it is also viable wave 3 higher is not yet done and
extends. And a wave 4 here could be a simple abc or could trace out a contracting tri, for now I am not sweating the smaller stuff except for trading around my core LONG position.
 
Senor

then up in a 5 wave high in silver before a more substantial 1-2 month correction IMO

That count is at odds with Stu's count.

Stu or me or anyone else has no corner on what the correct count is here - its all subjective and "best guess" as always. Frankly IMO its a count that is hard to argue with unless one is big picture bearish and a large ABC rally from THE low has ended. But as always Ewave is subjective and can morph into other counts, for example it is also viable wave 3 higher is not yet done and
extends. And a wave 4 here could be a simple abc or could trace out a contracting tri, for now I am not sweating the smaller stuff except for trading around my core LONG position.
 
Senor

6

Anyone want to take up that LT bearish scenario?
To me the breakout above 7 years of meandering is the best evidence against it

[K Wave]

1 min chart on GLD flagging out here after the back test attempt at 142...

 

could be short term moment of truth dead ahead here....