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#851 K Wave

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Posted 02 July 2020 - 09:14 AM

SLV still looking good after a little shake n bake on the open...

 

Just bout time to fire up thrusters I would think if they are going to do it...

 

slv.png


What A Beautiful Black Sky


#852 flyers&divers

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Posted 02 July 2020 - 02:48 PM

 

 

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

This has been following the script.

As long as the flows of funds are positive ( we can judge during a pause) it should gather steam.

 

F&D

 

thanks for this excellent analysis

 

My pleasure dougie!

I liquidated my GDX positin at noon. It's behaving well, I just thought it may spend time here before it goes for the highs.

 

F&D


Edited by flyers&divers, 02 July 2020 - 02:49 PM.

"Successful trading is more about Sun Tzu then Elliott." F&D

#853 Russ

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Posted 02 July 2020 - 05:34 PM

Silver looks headed for a good low in early August, around the 5th. 

 


Edited by Russ, 02 July 2020 - 05:34 PM.

"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



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#854 dougie

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Posted 02 July 2020 - 06:36 PM

Silver looks headed for a good low in early August, around the 5th. 

 

are you out Russ?



#855 Russ

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Posted 02 July 2020 - 08:12 PM

 

Silver looks headed for a good low in early August, around the 5th. 

 

are you out Russ?

 

Yes, I am in cash now. SPX may go up more but I am not participating.


"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/

#856 Russ

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Posted 03 July 2020 - 07:39 AM

SPX also looks toppy now with a bear flag breaking down, 3167 is showing to be strong resistance with the island above standing in the way... 


"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/

#857 gannman

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Posted 07 July 2020 - 09:50 AM

gdx hui in a wave iii imho looking for 450 on the hui


feeling mellow with the yellow metal


#858 gannman

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Posted 07 July 2020 - 10:57 AM

well yippee acting nice 


feeling mellow with the yellow metal


#859 gannman

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Posted 08 July 2020 - 08:28 AM

good golly miss molly and great googa mooga . this is fun


feeling mellow with the yellow metal