2864 replies to this topic

[gannman]

from an e wave standpoint right now gdx is completing the C wave that started june 1

 

imo. there should be a strong rally after it is complete . we will see. 

 

so far gdx has not come near to its low in early march 

Edited by gannman, 06 August 2021 - 07:40 AM.

[K Wave]

Just a quick check in.

 

After the massive pivot break in July, I still see nothing remotely bullish in either Silver or Silver Stocks

 

The fully expected backtest of the battle line at 26 now appears to be over and the brunt of the decline can now commence.

 

Only a move back above 26 that holds will begin to change my mind....still looking lower, perhaps much lower, until then....

 

60 min look at Silver...pretty classic bear action since the breach....

 

 

[K Wave]

Also watching PL here..

 

IF.... it does not find its footing here around 1K, then something perhaps more profoundly broken in the metal markets with the July mishap....

Edited by K Wave, 06 August 2021 - 08:04 AM.

[K Wave]

And Gold appears to have finally made a big decision regarding the 200 day MA...

 

no reason in my mind to be trying to catch potential falling knives now, as long as Gold remains below  the 200..

It is a long way down to that 900, and not incoceivabkle now at all that it could get tagged after the 200 failure.....

 

 

 

4 Hour Gold giving way simultaneously here....after failed stick save attempt....careful out there....

 

[linrom1]

Time to nibble again....very tiny accumulation. China and precious are a great hedge against this. I am not smart enough to know when this will take off, but it will.

Edited by linrom1, 06 August 2021 - 08:27 AM.

[crossd]

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

 

donc

[linrom1]

OpEX on 8/20 reversal?

[linrom1]

Anyone is going to try to buy some physical silver? It's going to be like trying to buy toilet paper last May at Walmart.

[K Wave]

I will say this again...DO NOT UNDERESTIMATE the breach of the 200 day MA in Mid-July on Silver

 

SILVER ABSOLUTELY HAD TO HOLD the 200 day to keep intermediate term bull picture intact...and IT FAILED to do so....and has now back tested that failure AND FAILED AGAIN

 

The depth and severity of the coming decline is likely going to surprise many....

 

It has been my experience from watching these charts unfold over the years, that when a a chart gets perfectly setup for a major move, and then that setup FAILS, the results are usually powerfully in opposition to the original setup.

 

A full retest of the daily 900 is now totally on the table, and that July breach honestly calls into question any further bull market for possibly quite some time to come.

Seems impossible with all the money printing I know, but the chart failure is HUGE...and if acceleration down is coming....RIGHT HERE is where it starts...

 

Getting very close now to Merriman's ABORT signals of Silver 23.75 and Gold 1750

 

Maybe I'll  turn out to be wrong, and somehow a massive reversal back above 26 will materialize, but the "odds" are not with that scenario....and instead favor a potentially crushing decline dead ahead...

 

[K Wave]

Barring a massive rally in the last few hours of the week, this week's close on Silver will be the lowest weekly close of 2021..as momo continues to disintegrate