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what the hell, out on a limb. the 1850ish low marks the bottom of this correction. the next leg higher begins now


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#31 senorBS

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Posted 26 October 2020 - 01:43 PM

the seasonal charts say gold is entering into the strongest part of the year https://seasonalchar...ssics_gold.html

i am feeling the cycle higher will be of the 90/10 variety.  

pinpointing the end of this correction is difficult to say the least. some of my favorite miners seem juicy at these levels

dharma

yeah, added some KL when it went below 46 and took out sep 24 low at 46.25

 

Senor



#32 senorBS

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Posted 27 October 2020 - 09:07 AM

Dharma, do you have the recent 5 and 10-day DSI numbers on gold and silver? gracias in advance

 

Senor



#33 dharma

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Posted 27 October 2020 - 10:52 AM

its another day, and the miners are leading-down.  we have not found the bottom yet! doesnt mean gold has to make a lower low , taking out the 1850, but it could . to me the pattern looks like a bear flag that has yet to be resolved.

so i am using the opportunity to step back and get a big picture view. 

lets start w/a longer term view of the dow https://gracelandupdates.com/wordpress/wp-content/uploads/2020/10/2020oct27stkmkt1.png note the expanding triangle/megaphone pattern  when this tops , in my experience everything gets sucked down in a crash. gold included. so when this tops its best to be on the sidelines

the prevailing environment since 81 has been deflation . the bonds tell us that unequivocally  https://gracelandupd...20oc27bond1.png

when the bonds break down from this trend , then stagflation will be the new prevailing trend., until then we are still in lockdown and deflation.

gold will continue to rise, once this correction is over . but the top in the broad market signals a big correction when the broad market starts its descent to hell

dharma



#34 dharma

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Posted 27 October 2020 - 11:01 AM

Dharma, do you have the recent 5 and 10-day DSI numbers on gold and silver? gracias in advance

 

Senor

sorry i havent been getting them i will see if i can get them they should be getting down there.; last i looked gold was 29 silver 30 but that was days ago

 

dharma



#35 ryanoo

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Posted 27 October 2020 - 12:15 PM

miners hourly has bullish divergence, moving through 50 on stoch; daily turning up from oversold condition. trapped in a downsloping channel for 3 months, maybe a bull flag? 



#36 dharma

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Posted 27 October 2020 - 02:56 PM

miners earnings come out thursday. 

gold continues to find support at 1900

dsi

gold -3 to 27

silver -6 to 24

hgnsi= 11.67

gdx bounced off the oct 6th low

dharma



#37 Russ

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Posted 28 October 2020 - 08:44 AM

Bear flag has broken down, 1700's by late Nov. is calling... 


Edited by Russ, 28 October 2020 - 08:45 AM.

"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/

#38 linrom1

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Posted 28 October 2020 - 09:53 AM

Bear flag has broken down, 1700's by late Nov. is calling... 

Gold market predicting Trump's win.
 



#39 Russ

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Posted 28 October 2020 - 10:24 AM

 

Bear flag has broken down, 1700's by late Nov. is calling... 

Gold market predicting Trump's win.
 

 

General stock markets are down too, just uncertainty, lack of guidance and seasonal weakness.  


"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/

#40 dharma

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Posted 28 October 2020 - 10:32 AM

so far gdx new lows for the move 

gdxj has not made new lows  so we have divergences developing

metals are not oversold on a daily basis but miners are  i look for the miners to bottom first

dharma