Member
Posted 11 January 2021 - 09:23 AM
I think this is the prevailing view, so most likely won't happen.
prevailing view? how do you gauge that?
Seems like it is surely possibility
but this move lower could also be a 2
That IMO is a REALLY UGLY bullish 5 up count and I would not bet a dime on it (are we forgetting about "overlap"?), virtually every miner ETF/index count looks corrective up from the Nov lows, that's enough for me to not try to "squeeze" bullish counts out of really difficult wave patterns
Senor
Member
Posted 11 January 2021 - 09:28 AM
And will we "FINALLY" see some bursting bubbles? Could bitcoin's parabolic just maybe be over? Last night it hit 42000 area, just recently it went below 32000! Might TSLA and stock mkt in general be ready for a significant decline - seems very possible IMO, what an interesting juncture. My best opinion is be MUY careful amigos!
Senor
Member
Posted 11 January 2021 - 10:28 AM
dollar dsi hit 9 last week
nasdaq=92 dsi
nikkei=93
spx=88
copper=92
eric hadik who has been amazing
https://www.howestre...-week-in-money/
starts @1130
dharma
hourly divergences on gdx, gdxj , goau
Edited by dharma, 11 January 2021 - 10:30 AM.
Member
Posted 11 January 2021 - 10:29 AM
dollar dsi hit 9 last week
nasdaq=92 dsi
nikkei=93
spx=88
copper=92
eric hadik who has been amazing
https://www.howestre...-week-in-money/
starts @1130
dharma
thanks dharma
Member
Posted 11 January 2021 - 10:51 AM
dollar dsi hit 9 last week
nasdaq=92 dsi
nikkei=93
spx=88
copper=92
eric hadik who has been amazing
https://www.howestre...-week-in-money/
starts @1130
dharma
thanks dharma
your last post inspired me to post thanks dharma by the way silver dsi got to 87 last week
Edited by dharma, 11 January 2021 - 10:51 AM.
Member
Posted 11 January 2021 - 11:10 AM
dollar dsi hit 9 last week
nasdaq=92 dsi
nikkei=93
spx=88
copper=92
eric hadik who has been amazing
https://www.howestre...-week-in-money/
starts @1130
dharma
hourly divergences on gdx, gdxj , goau
Thx Dharma, regarding GDX etc hourly divergences I don't think they mean much here except for a possible bounce/pause, IMO it will take big time daily oversold and and least oneDAILY divergence into a new low before I have any interest.
Senor
Member
Posted 11 January 2021 - 01:00 PM
After reviewing the charts again, I am seeing risk of a massive crash in the miners...really violent... yikes... 50% down in the XAU
Long DUST and will probably add tomorrow
show us what you see if can!
dougie to me a Head and Shoulders top is the risk - still above the neckline, but if that breaks target is 95ish, FWIW
and perfect gap fill at 95area: thanks Stu
that would be ugly but not unexpected given the massive run up we had from the lows....
still think as you did that we bounce first
Member
Posted 11 January 2021 - 01:02 PM
Well the first thing is the quarterly XAU Chart:
https://www.tradingv...com/x/JOFwQ1yQ/
we are failing at 30+ year resistance line.
This move up in mining stocks did not confirm the breakout up move in gold price, i mean look at how low we are still in miners.
Then there is the similarity fractal to the XAU 1987 crash down leg...
https://www.tradingv...com/x/6n8SvAWq/
current XAU monthly looks similar... it tried too quickly to rally back up for a breakout and instead double topped...
and with the dollar about to skyrocket and broad market equities about to crash down really hard... one can see how an 87 repeat is on the horizon...
I am absolutely shocked that David Morgan is so bullish on silver and sayin it will just zoom up now in the next leg up to 30's etc... It just goes to show how now matter how experienced one is in markets , they can do whatever the hell they want...
there are other techincal factors also... head and shoulders top formation in GDX with downside projection of roughly 25.
This whole reflation scenario I think is a bit too early... and yet everyone is banking on it. The Fed used too many of their bullets in March April of 2020 and stalled what was probably supposed to be the final deflation wave... but now here we are again for the final one about to start now.
I think we are on the cusp of a fairly swift final deflationary leg down that will make the final bottom....
this guy seems to have a good read on markets and metals.. but he is looking for a really massive move down in metals (1000 or 890) which is a bit hard to believe... I am not that bearish but I am open minded...
wow excellent analysis
Member
Posted 11 January 2021 - 01:08 PM
just want to say: this thread when from very bullish to very bearish based on one day of trading
i guess flexibility is the hallmark of really good traders?
Member
Posted 11 January 2021 - 01:59 PM
just want to say: this thread when from very bullish to very bearish based on one day of trading
i guess flexibility is the hallmark of really good traders?
