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#341 K Wave

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Posted 15 October 2019 - 10:25 AM

Haven't posted here in a while since I saw obvious swing top setting up.

 

With today's action, could be beginning final descent into tradable low...

 

Still think SLV has a very good shot at retesting 15.50 level...

IF/WHEN that happens, what happens there could be VERY telling about the future action...

 

Back above 16.50 on SLV, and final leg down may be aborted...


Edited by K Wave, 15 October 2019 - 10:25 AM.

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#342 dharma

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Posted 15 October 2019 - 11:21 AM

i found this interesting

http://www.ganngloba...8b7cff03e0b16a0

i am not a fan , but i do appreciate his perspective

dharma



#343 gannman

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Posted 15 October 2019 - 06:30 PM

to me gld and slv are just about done to the downside. need to see gld trade above 143 

 

to be comfortable adding to positions


feeling mellow with the yellow metal


#344 senorBS

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Posted 15 October 2019 - 10:26 PM

From another board: "Latest Sentimentrader tidbit ST Optix on GDX and J was smashed 30+ points to under 20 on both. In the past such readings have been trading lows at very least. We saw similar behavior roughly two weeks ago preceding the last big bounce."


Edited by senorBS, 15 October 2019 - 10:27 PM.


#345 hhh

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Posted 15 October 2019 - 11:27 PM

to me gld and slv are just about done to the downside. need to see gld trade above 143 

 

to be comfortable adding to positions

I agree we're at a short term low today, but even with GLD hitting 144+, it could be just finishing a b-wave and setting up a big c-wave down to around 130.



#346 dougie

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Posted 16 October 2019 - 01:30 AM

I wonder JUST HOW low SHE CAN GO



#347 senorBS

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Posted 16 October 2019 - 07:41 AM

Like the chances gold just saw  a key secondary low at 1477 and silver at 17.16, we see

 

Senor


Edited by senorBS, 16 October 2019 - 07:45 AM.


#348 dharma

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Posted 16 October 2019 - 10:40 AM

Most investors have the brains to make money in the stock market. Few have the stomach for it" - Peter Lynch

time wise , i dont see much supporting the market here until october is in the rear view mirror

but what i do see is the fed is in a large qe(they are not calling it that) but their balance sheet has expanded

dramatically. they are continuing to do daily repos i have said this from when i came to this board we are going to get stagflation it will appear in 2020. if you noticed w/this new trade agreement w/china, the chinese have pledged to increase their buying of american grown food stuffs. soybeans et al had a good day on the announcement

gold and gdx and other mining indexes have formed bull channels. lets see what the rest of the month holds

dharma



#349 senorBS

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Posted 16 October 2019 - 10:42 AM

Like the chances gold just saw  a key secondary low at 1477 and silver at 17.16, we see

 

Senor

Like the action so far with gap up opening in miners, pullback to fill gap or test yesterdays late session lows (or make a marginal new low) and now a rally back to area of early session highs. All daily charts in miners ETF's/Indices have ending double zig potential from Aug/Sept highs, also IMO ratio charts look ready for a turn higher, we have an oversold condition and sentiment has turned significantly negative. Alternate bearish count is a strong and sustained move below recent lows might suggest a wave three down instead - close will be somewhat impt today but for me at this time it looks like bottoming action. As always DYODD

 

Senor



#350 senorBS

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Posted 16 October 2019 - 11:28 AM

SILJ: Five up from May low (6.77) to early Sep high (11.57), double zig decline to yesterdays low (9.12) - 50% retracement is 9.17, rallying to 9.44 so far today, have to seriously consider the correction from the 5 up rally highs may have ended. Like the action so far

 

BTW dollar in freefall, gotta wonder if a massive ending diagonal tri top may be in place. And while we have seen the dollar and gold rally together we might be ready for "separation".

 

Senor


Edited by senorBS, 16 October 2019 - 11:32 AM.