859 replies to this topic

[flyers&divers]

Two ingredients are important to the continuation of a move once it is underway:

GDX sits on top of the 20d and 50d averages so it is qualifies to be in an uptrend.

 

1.) The particular issue (I am looking at GDX) has to be on a relative bases stronger then the overall market to be able to launch a new leg of the move

As a move unfolds in up and down waves in both the big market and GDX this aspect fluctuates specially when the bigger overall market is aggressively pulled in opposite directions on a daily bases.

In this respect at the moment GDX is stronger then the market.

 

2.) The flow of funds has to be gaining strength.

I looked at components of the GDX that have not run away yet or are not laggards either, basically the charts look similar to the GDX 30 or 60 minutes charts.

All, GDX, NEM, KL, AUY, WPM, PAAS, AEM etc show strong increase in the money flow index. (may not be visible on D charts).

 

This means that if the overall market stalls or stays weaker even for a few days the anticipated downswing in GDX will be short cut and the upmove will continue.

Today and tomorrow should be the sweet spot for the turn. 

 

Regards

F&D

[gannman]

thanks good stuff to know flyers and divers 

 

i was just going to say i think the sector has bottomed here fwiw based on the waves 

[dharma]

this is what makes a market . i see the potential here for a correction. not just in the pms but also the broad market

i did some light selling . yesterday , on another board folks alerted me to a miner  . i spent the day researching it and listening to an 

interview by the ceo, as a result i felt of its location and prospects i felt this junior was deserving of an investment. so i got my toes 

wet and on a pullback i will keep adding until i get the desired exposure. 

folks , unless you believe the propaganda , we have entered into a depression these things move in 3 stages w/phase one announcing itself.   over the next several years i expect to see a big bull market in gold. silver and platinum will get their own  juice at some point.  at present the gold:silver ratio is over 100 and platinum is pushing a 1k deficit to gold    

if the correction i see coming presents itself it should be over end of june beginning of july.  if it happens it will be a correction in the present upleg in gold

the dsi has moderated

gold=83

silver=79 note the persistent high #s and yet price wise it has done little to nothing

platinum=67

dharma

[ryanoo]

correction so soon after an apparent breakout?  market today, at least gld looks similar in technicals to the late december 2019 breakout with some small differences.  both times, price broke out after consolidation, price above the upper BB, RSI5 both overbought showing strength, and MACD making the positive move after the (negative) consolidation.  So tomorrow will show us quickly if the breakout this time has any leg, similar to the december breakout, or not.  important difference is, in december we did not have the virus, and the consolidation was longer and rsi5 was stronger.

looks like the back testing the breakout about done?  Hard to believe the almost 3-mo long consolidation and then a breakout/fakeout done in 2-3 days?  

[K Wave]

Bulls ability to reclaim broken 5 min 900 in SLV potentially promising....if they can bust out of this little bull flag and go take out the trendline tomorrow, then maybe a launch after a slight weather delay....

 

[ryanoo]

Looks like Pt and Ag are still consolidating, near the bottom of respective trading ranges with Au backtesting its breakout after 3-mo long consolidation.  miners and gld are oversold in the hourly chart, trying to turn up altho dailies are overbought and turning down.

[K Wave]

Platinum is still concerning, and 4 hour chart suspect, but if 2 hour 900 can continue to hold, and then it goes straight up from here, bulls still got a shot.

 

If busts though the 2 hour then nothing left holding it up, and then who knows how far it could fall...

 

Edited by K Wave, 25 June 2020 - 02:31 PM.

[senorBS]

Platinum is still concerning, and 4 hour chart suspect, but if 2 hour 900 can continue to hold, and then it goes straight up from here, bulls still got a shot.

 

If busts though the 2 hour then nothing left holding it up, and then who knows how far it could fall...

 

I have been "concerned" as well, but I "feel" like they are trying to do everything to make it seem like a larger or more correction is coming (get us out) but instead we may soon rocket out of here. The GSR looks to have ended a corrected rally above 100 and could be headed quickly toward 90, we see

 

Senor

[ryanoo]

shake & bake for Pt and Ag still

miners hourly turning up from lower BB and from the oversold stochastic

Edited by ryanoo, 25 June 2020 - 02:50 PM.

[ryanoo]

OT: how will the dead people spend $1.4B ?  Fed sent them the $1.2k checks.