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


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#841 K Wave

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Posted 04 May 2021 - 10:36 AM

Pretty ugly looking throwover on GDX now....

 

gdx.png


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

 

 


#842 K Wave

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Posted 04 May 2021 - 10:40 AM

it seems pretty simple going forward at this point..

 

If / When SLV closes over 25, and SILJ over 16, back up the truck.

 

If they do not do it very soon, risk of bears taking the ball grows....


Edited by K Wave, 04 May 2021 - 10:40 AM.

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

 

 


#843 tradesurfer

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Posted 04 May 2021 - 10:50 AM

Excellent updates Kwave thank you....

 

And for the 100th time starting to look like the metals move higher might have failed ....    Dollar gaining some traction..... 

 

Maybe David Hunter is right, 1 year meltdown scenario engages now



#844 linrom1

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Posted 04 May 2021 - 11:27 AM

Excellent updates Kwave thank you....

 

And for the 100th time starting to look like the metals move higher might have failed ....    Dollar gaining some traction..... 

 

Maybe David Hunter is right, 1 year meltdown scenario engages now

Well some speculators in metals like NEM and FNV made a fortune....but I don't think that they're smarter than futures market.



#845 crossd

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Posted 04 May 2021 - 12:04 PM

looks like Yellen did it..she hinted in a speech that interest rates will have to rise to keep the economy from overheating..news flash at 12:09 EDT..

 

i cud not capture it to post..

 

donc



#846 K Wave

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Posted 04 May 2021 - 12:49 PM

Pretty nasty looking momo divergence on the FAANG tracker after that last 4 hour bar....

 

Below 4700 by much and wheels could come completely off...

 

faang.png


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

 

 


#847 senorBS

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Posted 04 May 2021 - 01:42 PM

don't like the looks of yesterdays gold/silver/miner rally and todays reversal after flat to slightly up opening. The day to day volatility is high (Senor tired of being a YoYo so standing aside) and so far we are going nowhere, near term lots of miner stuff looks like 5 down from early highs to session lows and if correct should go lower after this bounce, don't like this market for now and am remaining on sidelines, gen mkt just might be cracking a bit (we see), still holding my very small &P bearish position, as always DYODD

 

Senor



#848 senorBS

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Posted 04 May 2021 - 01:52 PM

Excellent updates Kwave thank you....

 

And for the 100th time starting to look like the metals move higher might have failed ....    Dollar gaining some traction..... 

 

Maybe David Hunter is right, 1 year meltdown scenario engages now

BUT David Hunter still thinks we have ONE BIG melt up left before it all falls apart - below is a tweet from yesterday. Key Q is whether he's going to be right or do we top here and does it start getting real bad from here and NO one more melt up? I don't know and neither does David - its all a best guess, be ironic if he's correct about everything but the one more leg up scenario.

 

"As we enter May, equities, metals & bonds all poised for strong rallies. Ignore the "sell in May & go away" mantra that is making the rounds on Wall Street. S&P to 4700+,DJIA to 38,000+,Nasdaq to 17,000+, gold to $2500, silver to $45-$50. Also 10yr yield to 1.20% & 30yr to 1.95%."



#849 senorBS

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Posted 04 May 2021 - 02:08 PM

Bitcoin....Wave 3 down just about to get underway as ETH finishes blowoff?

 

btc.png

said for a while drop from highs was a big 5 down (wave 1), wave 2 likely done last couple days, next stop 35-40000 area at a minimum?

 

Senor



#850 gannman

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Posted 04 May 2021 - 02:21 PM

i dont see a melt up from here i just dont  we will see 


feeling mellow with the yellow metal