2512 replies to this topic

[senorBS]

rally attempt has faded badly after lower opening, looks ugly to me and I have no interest, just nothing clear here to me near term and could still be bullish but am happy being out and employment report tomorrow as well - dog days of summer?

 

Senor

[gannman]

senor what are your thoughts on FCX if you dont mind sharing 

 

thanks 

[crossd]

gold futures 4x3...uptrend line support  1775...just broken

 

donc

[senorBS]

did some buyin, GDXJ at 43.05, NEM at 59.24 and KL at 40.60 and a few others, about 10% long now, could be wrong here but GDXJ for example made marginal new decline low with another daily divergence "so far", have some orders in a bit lower, as always DYODD

 

Senor

[senorBS]

got some very interesting stuff happening here like silver/SLV making new decline lows (still possible wave E) and the silver miners SILJ/SIL "so far" not really that close to a new low - are we finally seeing a miner bullish divergence which IMO would be very bullish if it plays out that way. Also potential daily RSI divergence in stuff that made new decline lows today "if" the plunge does not go down another several percent. this just might be the washout we need, we see and as always DYODD

 

Senor

[senorBS]

a bit off topic here but was lookin at QQQ chart and yesterdays new all-time high registered a 3rd consecutive daily RSI divergence (series of consecutive lower highs) against the daily RSI peak on this large leg registered on July 7th, perhaps at least a key trading top? I bot a small position in SQQQ, tight stop and just for fun

 

Senor

[senorBS]

just put slightly profitable stops in on longs taken this mornin, so I'll let it run if bounce continues but exit if it fades

 

Senor

[crossd]

 

Cramer 8/3 had longtime guru DeMark on indicating an SPX top around 4430..futures hit 4433 this am

 

donc

[senorBS]

exited my longs late today as bounce looked corrective and wanted no weekend risk

 

Senor

[Smithy]

Today is of course the anniversary of the $2075 peak  on 8/6/20