859 replies to this topic

[K Wave]

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...

 

[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

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.

[Russ]

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

 

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

[dougie]

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

 

are you out Russ?

[Russ]

 

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.

[Russ]

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... 

[gannman]

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

[gannman]

well yippee acting nice 

[gannman]

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

[senorBS]

with weekend coming and still uncertain overall from my viewpoint I decided to go back to 100% cash, as always DYODD

 

Senor