Market looks like it wants to resume its downward direction.
the equinox marks the turn in the pm sector "a new leg higher"
Started by
dharma
, Mar 18 2021 09:21 AM
2864 replies to this topic
#2501
linrom1
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#2502
gannman
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Posted 01 February 2022 - 11:20 AM
on the oil stocks i think there is a chance they are taking off in a iii of wave i of 3
they are just flying. gld and silver and the miners are very close to blast off imho
feeling mellow with the yellow metal
#2503
dharma
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Posted 01 February 2022 - 11:26 AM
the environment is forming to support a big gold rally. gannman interesting to me , if you look at an oil chart of the 70s and a gold chart of the 70s it was a hand to a glove, waiting for that relationship to form again. the dollar is in a topping process. not enough evidence yet for me to feel confident the metals have bottomed .
dharma
#2504
linrom1
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Posted 01 February 2022 - 11:42 AM
This is going parabolic. Don't understand what is going on becasue the chart doesn't look all that bullish at all and I don't see a bottoming pattern?
#2505
dharma
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Posted 01 February 2022 - 12:03 PM
3.5 tons flowed into gld yesterday that makes 41.5 tons in the last 9 biz days.follow the money
dharma
#2506
linrom1
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Posted 01 February 2022 - 12:19 PM
Perhaps this all for retrace and we start moving down again? Pesavento mentioned his target for Si at $17? That's a long way to get there.
#2507
gannman
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Posted 01 February 2022 - 01:22 PM
@dharma yes that is nice money is flowing into gold , the sector should bottom this week or early next week imo
also on xle here i think i have a count we are close to finishing wave i of a wave 3 . so i expect one more new high in xle
and then a correction fwiw
feeling mellow with the yellow metal
#2508
dougie
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Posted 01 February 2022 - 03:18 PM
This is going parabolic. Don't understand what is going on becasue the chart doesn't look all that bullish at all and I don't see a bottoming pattern?
parabolic? dod you mean it is GOING to go parabloic?
#2509
linrom1
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Posted 01 February 2022 - 05:45 PM
This is going parabolic. Don't understand what is going on becasue the chart doesn't look all that bullish at all and I don't see a bottoming pattern?
parabolic? dod you mean it is GOING to go parabloic?
No, it already has--up $1.28 in 3days for about 4.3% gain per day.
#2510
K Wave
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Posted 02 February 2022 - 07:54 AM
That 5 min turn on Gold overnight likely for all the big swing marbles now....as long as it holds, bulls still got a shot at turning things back up.
Could get a bit ugly if it goes below now...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
