Member
Posted 22 September 2022 - 07:17 AM
With the late action...not so sure Gold will survive the night above 1660...
But if it does, the bulls might have a shot...
This IMO is and has been for day/weeks some of the most extreme "tree shaking" I have seen, yet "so far" most miners are above their respective lows while gold made a marginal new low yesterday, what's gonna "give"? Still holding about 22% long
Senor
Edited by senorBS, 22 September 2022 - 07:19 AM.
Member
Posted 22 September 2022 - 07:20 AM
Gold held where it needed to overnight....
IF it can hold out a few more hours, and take and hold 1680 upside, bulls may be about to pull off a huge Shake N Bake...
But down to 1660 another time might be one time too many...
Likely pivotal moments coming soon...
Edited by K Wave, 22 September 2022 - 07:20 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
Member
Posted 22 September 2022 - 07:25 AM
Sustained action below 84 on G/S ratio would likely be first real sign that bears better days may be behind them...
Still looks like a 3 drive top on Daily...but have not yet broken key levels to start the avalanche
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 22 September 2022 - 08:08 AM
looks like Apple needs one more trip under 153 to get things to start to sync up downside again...
Edited by K Wave, 22 September 2022 - 08:09 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
Member
Posted 22 September 2022 - 09:29 AM
so, have we seen yet another failed attempt to take gold/miners down significantly? this is really interesting action - are the bears selling attempt's running out of steam? we see
Senor
Member
Posted 22 September 2022 - 10:19 AM
Close, But No Cigar
By Avi
I wish I could say that something has changed in the picture for the metals this week, but, unfortunately, I would be lying if I did. As it stands now, absolutely nothing has changed since we have no evidence of a bottom being struck. Yet, it seems that we are inching our way closer.
In silver, we still have no evidence of a bottom being struck, as we cannot even claim a leading diagonal off the low yet. We still need to push higher one more time to even consider that potential. And, even if that does happen, we would still need a corrective 2nd wave pullback, with a follow through over the high of wave 1 to confirm that the bullish trend has likely begun.
In the meantime, we have no indications that are even close to silver for either the GLD or GDX. We have no potential 5 waves up yet, so one more lower low is still very much on the table for both those charts.
Again, nothing has really changed in the metals complex this week. While I think we are close to striking major bottoms in the metals complex, we still have no clear evidence that the next bullish trend has yet begun. So, whereas a lower low remains potential in GDX and GLD, silver is the chart which MAY suggest a low has been struck. Therefore, I am still in a wait-and-see mode before I am willing to turn aggressive on the long side in the complex.
Member
Posted 22 September 2022 - 10:30 AM
so, have we seen yet another failed attempt to take gold/miners down significantly? this is really interesting action - are the bears selling attempt's running out of steam? we see
Senor
I see selling into strength. Which is what I am doing, selling top of range and buying the bottom over and over.
Member
Posted 22 September 2022 - 12:55 PM
Close, But No Cigar
By Avi
I wish I could say that something has changed in the picture for the metals this week, but, unfortunately, I would be lying if I did. As it stands now, absolutely nothing has changed since we have no evidence of a bottom being struck. Yet, it seems that we are inching our way closer.
In silver, we still have no evidence of a bottom being struck, as we cannot even claim a leading diagonal off the low yet. We still need to push higher one more time to even consider that potential. And, even if that does happen, we would still need a corrective 2nd wave pullback, with a follow through over the high of wave 1 to confirm that the bullish trend has likely begun.
In the meantime, we have no indications that are even close to silver for either the GLD or GDX. We have no potential 5 waves up yet, so one more lower low is still very much on the table for both those charts.
Again, nothing has really changed in the metals complex this week. While I think we are close to striking major bottoms in the metals complex, we still have no clear evidence that the next bullish trend has yet begun. So, whereas a lower low remains potential in GDX and GLD, silver is the chart which MAY suggest a low has been struck. Therefore, I am still in a wait-and-see mode before I am willing to turn aggressive on the long side in the complex.
smart man
Member
Posted 22 September 2022 - 12:56 PM
we have 40 year record inflation and the threat of nuclear war and gold is in the toilet
Member
Posted 22 September 2022 - 01:03 PM
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".
Well he just said it or agreed to it 3 days ago and it is not just war, Europe will have their debt crisis starting next year and going into 2024, they are going to default on decades of debt from keeping socialism going and want war as a distraction to stop citizens coming after the elite with pitch forks.... https://mikesmoneyta.../complete-show/
Thanks for posting M. Armstrong stuff. It's uncannily spot on. Partial mobilization........?
