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golds next leg higher


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#551 ryanoo

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Posted 03 June 2020 - 12:07 PM

interesting GLD & GDX charts 

https://www.sunshine...874eaeea9c0.png

https://www.sunshine...d83c8409ccc.png

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#552 Smithy

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Posted 03 June 2020 - 01:05 PM

dharma the broad market is looking at M2  lol



#553 dharma

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Posted 03 June 2020 - 02:07 PM

dharma the broad market is looking at M2  lol

that statement has alot of truth in it.  Zweig " dont fight the fed" this is going to end very badly.  i am trying to gauge how 

severe the correction will be in the pms. i have put some stink bids , which i may change one way or the other still think 

this could be worse then at present

dharma



#554 ryanoo

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Posted 03 June 2020 - 03:21 PM

No, it should be the bottom, the top came in already, the oscillator pointed at June 1st for the top and after that the price of gold started to plunge. It is also interesting that my SP500 chart is pointing at a top for mid June just when Gold is pointing at a low. The SPX chart predicted the crash low (within about 1 week) last December btw.  

Russ, the VIX guy agrees with you:

"The VIX guy is back Frequent readers of TME know our top contrarian indicator when it comes to volatility is back. Having spent several months "off side" he called us today outlining the bullish logic...."Fed has this under control and VIX should collapse from here" is his latest reasoning..."just look at Emerging markets...risky assets must go higher and risk premium lower". Needless to say this guy has had the perfect track record, the inverted way. We are getting close to "time to accumulate" hedges."

https://tme1.fra1.di...89ccef233fd47b2


Edited by ryanoo, 03 June 2020 - 03:23 PM.


#555 ryanoo

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Posted 03 June 2020 - 03:36 PM

Was HUI a breakout failure or was it no breakout yet?  me think the latter.

The neg div on the weekly says it will bottom at around 225.

102299606_10214277839294817_881966118279



#556 Russ

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Posted 03 June 2020 - 04:27 PM

 

No, it should be the bottom, the top came in already, the oscillator pointed at June 1st for the top and after that the price of gold started to plunge. It is also interesting that my SP500 chart is pointing at a top for mid June just when Gold is pointing at a low. The SPX chart predicted the crash low (within about 1 week) last December btw.  

Russ, the VIX guy agrees with you:

"The VIX guy is back Frequent readers of TME know our top contrarian indicator when it comes to volatility is back. Having spent several months "off side" he called us today outlining the bullish logic...."Fed has this under control and VIX should collapse from here" is his latest reasoning..."just look at Emerging markets...risky assets must go higher and risk premium lower". Needless to say this guy has had the perfect track record, the inverted way. We are getting close to "time to accumulate" hedges."

https://tme1.fra1.di...89ccef233fd47b2

 

Are you saying he is predicting the SP500 is headed back down, hedges meaning puts or shorts on the general stock market?

 


"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/

#557 ryanoo

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Posted 03 June 2020 - 04:44 PM

 

 

No, it should be the bottom, the top came in already, the oscillator pointed at June 1st for the top and after that the price of gold started to plunge. It is also interesting that my SP500 chart is pointing at a top for mid June just when Gold is pointing at a low. The SPX chart predicted the crash low (within about 1 week) last December btw.  

Russ, the VIX guy agrees with you:

"The VIX guy is back Frequent readers of TME know our top contrarian indicator when it comes to volatility is back. Having spent several months "off side" he called us today outlining the bullish logic...."Fed has this under control and VIX should collapse from here" is his latest reasoning..."just look at Emerging markets...risky assets must go higher and risk premium lower". Needless to say this guy has had the perfect track record, the inverted way. We are getting close to "time to accumulate" hedges."

https://tme1.fra1.di...89ccef233fd47b2

 

Are you saying he is predicting the SP500 is headed back down, hedges meaning puts or shorts on the general stock market?

 

 

He (the Vix guy) is predicting SP500 will go higher, and he seems to be a reliable contrarian indicator whenever he wakes up and calls the market. lol 


Edited by ryanoo, 03 June 2020 - 04:45 PM.


#558 Russ

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Posted 03 June 2020 - 04:47 PM

US Dollar Index looks headed for a big low in Oct. 2020, so that should mean gold will go up into that time after some weakness into mid june... 


"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/

#559 Russ

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Posted 03 June 2020 - 04:50 PM

 

 

 

No, it should be the bottom, the top came in already, the oscillator pointed at June 1st for the top and after that the price of gold started to plunge. It is also interesting that my SP500 chart is pointing at a top for mid June just when Gold is pointing at a low. The SPX chart predicted the crash low (within about 1 week) last December btw.  

Russ, the VIX guy agrees with you:

"The VIX guy is back Frequent readers of TME know our top contrarian indicator when it comes to volatility is back. Having spent several months "off side" he called us today outlining the bullish logic...."Fed has this under control and VIX should collapse from here" is his latest reasoning..."just look at Emerging markets...risky assets must go higher and risk premium lower". Needless to say this guy has had the perfect track record, the inverted way. We are getting close to "time to accumulate" hedges."

https://tme1.fra1.di...89ccef233fd47b2

 

Are you saying he is predicting the SP500 is headed back down, hedges meaning puts or shorts on the general stock market?

 

 

He (the Vix guy) is predicting SP500 will go higher, and he seems to be a reliable contrarian indicator whenever he wakes up and calls the market. lol 

 

Ok thanks,  Don Wolanchuk (aka da_cheif) is also remaining bullish and looking for new high in the dow down the road. I see weakness after mid june for the spx as I said but Wolanchuk could be right going farther out,  I don't have a projection for long term spx etc, back to the drawing board. 


"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/

#560 ryanoo

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Posted 03 June 2020 - 07:04 PM

I use Rydex PM fund in the retirement account -- it's only daily closing basis.  It looks like the H&S breakdown with target at 50MA. Perhaps it will get there end of next week or early the week after per Russ's projected low point?

  101670821_10214279107566523_245872980040


Edited by ryanoo, 03 June 2020 - 07:04 PM.