4036 replies to this topic

[senorBS]

added into morning weakness, now bout 20% long

 

Senor

gettin that "tingly" feelin is it nerve damage or something else?

 

Senor

[Smithy]

95 Billion a month coming off Fed balance sheet starting last Friday.

[dharma]

added into morning weakness, now bout 20% long

 

Senor

we  look to be in a bottoming process. that 7 dsi the other day is a big marker.  this break of 1675 could be a bear trap. miners are way out of favor. 

dharma

[jabat]

Avi     Nightly Wave Analysis      Weekend Metals

Gold Is Completing Its Pattern

With the GLD finally giving us that lower low, we are now setting up a positive divergence on the daily chart which often marks major lows.  Moreover, we are still maintaining the positive divergent low relative to the a-wave of wave 4.   So, overall, while we can still get another squiggle lower to complete the 5th wave of the c-wave of wave 4, we are approaching a major reversal point in my opinion.

The question now is if we will see the same in GDX, and I think we have strong potential to still see that one more lower low, and it can still very well hold the 22 region. Not only do we have a strong divergence on the daily chart, but this last move down is looking more and more like an ending diagonal.  And, due to these significant divergences we are seeing, I may even have to consider a truncated bottom.  Ultimately, most of the indications are strongly suggestive of bottoming action.

But, my biggest issue still remains in silver.  The potential that it has already bottomed is still on the chart.  Yet, as I have mentioned, I have a hard time coming up with a strong micro count off the recent high which suggests it completed a 5-wave count to the downside.  But, should we see another push higher we can then count a diagonal off the low, and put me on a greater alert that a bottom may have already been seen.  Clearly, should we see the 1-2 develop as I have outlined on the 144-minute chart, followed by a break-out over the wave 1 high, I will likely be looking to the long side in silver in a more aggressive fashion.

Ultimately, for us to turn more aggressive on the long side, I will need to see the same set up as I just mentioned on GLD and GDX as well.  And, when we see all three charts in that posture, it will provide us with a very strong signal that the metals market has finally turned back into a bullish mode after more than a 2 year pullback.  But, I still think we will see this segment of the market turn bullish as we look towards the end of this year, and well into 2023.

[dougie]

as we look towards the end of the year....

sure, i too can see Dec lows...

but damge might be much greater first

[senorBS]

as we look towards the end of the year....

sure, i too can see Dec lows...

but damge might be much greater first

 

as we look towards the end of the year....

sure, i too can see Dec lows...

but damge might be much greater first

for me am happy to see the negativity/lack of belief of any possible key bottom here. IMO every main ingredient for a key low has been seen and as we know that guarantees nada, but I am happy with the utter lack of any bullishness. Bout 22% long and we'll see what happens

 

Senor

[crossd]

9/19  Hurst cycles now looking for a bottom now..18 month cycle..to form a broad W pattern with 18 month peak next Sept 2023..

 

 

donc

[Russ]

Armstrong thinks gold and general stock markets go down into the end of the year, possibly gold 1500ish, if oil closes above 99 a barrel year end, it will go to over 200 in 2023. 2023 will be the "year from hell". 

[linrom1]

Armstrong thinks gold and general stock markets go down into the end of the year, possibly gold 1500ish, if oil closes above 99 a barrel year end, it will go to over 200 in 2023. 2023 will be the "year from hell". 

Thanks for update.

[tradesurfer]

I have some different stuff from Armstrong.

 

He is saying that only a quarterly closing this quarter below 1705 warns of a serious decine ahead... 

 

there are 9 trading days left in this quarter.

 

 

This quarter turning piont,  next quarter direction change...  and then entire 2023 year a panic cycle in gold price (most likely due to international war)

 

 

 

Armstrong thinks gold and general stock markets go down into the end of the year, possibly gold 1500ish, if oil closes above 99 a barrel year end, it will go to over 200 in 2023. 2023 will be the "year from hell".