Jump to content



Photo

THE PRIMARY WAVE THREE thread and finding the Intermediate wave TWO corrective low


  • Please log in to reply
2512 replies to this topic

#1741 K Wave

K Wave

    Member

  • Traders-Talk User
  • 25,928 posts

Posted 18 June 2021 - 02:58 PM

looking like bulls and bears fought pretty much to a draw on NDX today...see what Monday brings


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#1742 linrom1

linrom1

    Member

  • Traders-Talk User
  • 3,955 posts

Posted 18 June 2021 - 04:08 PM

 

Last two days action was very bearish, I now think we're heading significantly lower. The bullish set ups on some miner stocks like NEM were misleading.


Edited by linrom1, 18 June 2021 - 04:13 PM.


#1743 senorBS

senorBS

    Member

  • TT Member+
  • 10,900 posts

Posted 21 June 2021 - 07:17 AM

good start, no plunge/crash scenario so far which as oversold as we are IMO was the only we went considerably lower immediately given how extremely oversold and diverging the 1-12 hour technicals were at Friday's close. Dailies now have become oversold to very oversold depending which index/ETF/stock it is. Now we see what type of bounce unfolds because we can't rule out another 4/5 subdivision but correction could also be done. Will also be watching DBA closely as it has a very clear ABC daily decline that "might" be done as well. Step one done for now - avoiding a crash, step two is "done or lower after a bounce", lets see what plays out

 

Senor



#1744 linrom1

linrom1

    Member

  • Traders-Talk User
  • 3,955 posts

Posted 21 June 2021 - 09:08 AM

 

YTD SLV has outperformed PSLV by a whopping 2.8%. What gives?


Edited by linrom1, 21 June 2021 - 09:08 AM.


#1745 CHAx

CHAx

    Member

  • Traders-Talk User
  • 1,614 posts

Posted 21 June 2021 - 09:12 AM

Market is still digesting Fed news IMO.  Take a look at $USD and /ZN (10yr treasury).   Typically, dollar rallies as rates rise.  After fed, dollar rose, 10 year rallied (rates down), and now today dollar retracing Fed gains and 10 year treasury giving back most of its Fed gains ( rates rising again).  So what is it going to be?  Rates up or down?  Dollar up or down?  market is very confused!

 

But more importantly, when are dollar and rates going to return to their normal relationship?


Edited by CHAx, 21 June 2021 - 09:18 AM.


#1746 senorBS

senorBS

    Member

  • TT Member+
  • 10,900 posts

Posted 21 June 2021 - 09:13 AM

has an order in at 27.94 in PAAS which was a new low by a penny since the AUGUST 2020 high looks to me like an A down, huge wave B contracting tri and this if correct is a wave C thrust down. Could go lower of course but all "requirements" for a "possible" int term corrective low are now in place IMO. just bot an initial modest position, picked up a few others, solstice low? as always DYODD

 

Senor



#1747 senorBS

senorBS

    Member

  • TT Member+
  • 10,900 posts

Posted 21 June 2021 - 10:00 AM

good start, no plunge/crash scenario so far which as oversold as we are IMO was the only we went considerably lower immediately given how extremely oversold and diverging the 1-12 hour technicals were at Friday's close. Dailies now have become oversold to very oversold depending which index/ETF/stock it is. Now we see what type of bounce unfolds because we can't rule out another 4/5 subdivision but correction could also be done. Will also be watching DBA closely as it has a very clear ABC daily decline that "might" be done as well. Step one done for now - avoiding a crash, step two is "done or lower after a bounce", lets see what plays out

 

Senor



#1748 senorBS

senorBS

    Member

  • TT Member+
  • 10,900 posts

Posted 21 June 2021 - 10:02 AM

some modest/marginal new decline low this morning and a host of technical divergences, IMO we are very oversold and "coiled", decent rally so far lets see if we get a significant extension into day's end. Love the KL action, IMO one of the best "core" larger metals stocks to own, one of my largest holdings.

 

BTW re PAAS, that new low barely below the previous 27.75 low could have ended a very large degree wave FOUR correction from the 2016 bottom - that might imply a large wave 5 well above $40 could get underway, as always DYODD

 

Senor


Edited by senorBS, 21 June 2021 - 10:05 AM.


#1749 linrom1

linrom1

    Member

  • Traders-Talk User
  • 3,955 posts

Posted 21 June 2021 - 10:34 AM

SLV is trading up .8% while PSLV is trading at a discount of -.63%. Is PSLV another Sprott scam? They're ripping off retail investors.


Edited by linrom1, 21 June 2021 - 10:36 AM.


#1750 CHAx

CHAx

    Member

  • Traders-Talk User
  • 1,614 posts

Posted 21 June 2021 - 10:40 AM

SLV is trading up .8% while PSLV is trading at a discount of -.63%. Is PSLV another Sprott scam? They're ripping off retail investors.

 

Relax friend.  It is common for closed end funds to trade at premiums on up-days and discounts on flat or down days.  Go look at the Daily NAV discount/premium historical data.