4036 replies to this topic

[K Wave]

Back test of 22 on Silver holding thus far....this could be wherre the rubber meets the road if Silver Bulls can negotiate this back test turn...

[senorBS]

BTW it looks to me like one more DXY new DAILY low down toward 105 area could complete a nice 5 down from the rally highs, that actually fits nicely with a lot of the possible miner counts ending a wave 5 up soon, we see and as always DYODD

 

Senor

so far so good as DXY just eked out a new decline low below 105.32 in a possible 5th wave that could have more to go. We could be in the latter stages of 5 down and also 5 up in miners, XGD easily moved to a new high last night (likely wave 5 as well), let's see how it plays out near term

 

Senor

[linrom1]

Nice call on miners.

[senorBS]

 

BTW it looks to me like one more DXY new DAILY low down toward 105 area could complete a nice 5 down from the rally highs, that actually fits nicely with a lot of the possible miner counts ending a wave 5 up soon, we see and as always DYODD

 

Senor

so far so good as DXY just eked out a new decline low below 105.32 in a possible 5th wave that could have more to go. We could be in the latter stages of 5 down and also 5 up in miners, XGD easily moved to a new high last night (likely wave 5 as well), let's see how it plays out near term

 

Senor

 

OK wave 5 up in miners/down in DXY just might be over, if it is a 2–4-week correction would be expected and just perhaps, more bullish count is we keep goin higher with only small pullbacks for now - I favor the 5 up ending count, we see

 

Senor

[dharma]

 

 

BTW it looks to me like one more DXY new DAILY low down toward 105 area could complete a nice 5 down from the rally highs, that actually fits nicely with a lot of the possible miner counts ending a wave 5 up soon, we see and as always DYODD

 

Senor

so faso good as DXY just eked out a new decline low below 105.32 in a possible 5th wave that could have more to go. We could be in the latter stages of 5 down and also 5 up in miners, XGD easily moved to a new high last night (likely wave 5 as well), let's see how it plays out near term

 

Senor

 

OK wave 5 up in miners/down in DXY just might be over, if it is a 2–4-week correction would be expected and just perhaps, more bullish count is we keep goin higher with only small pullbacks for now - I favor the 5 up ending count, we see

 

Senor

 

yes, today is a game changer 5 waves up  in gold /gdx/gdxj    

dharma

[dougie]

Back test of 22 on Silver holding thus far....this could be wherre the rubber meets the road if Silver Bulls can negotiate this back test turn...

back test?

[dougie]

looks like ewe are 3 of 5 of C or 5

[Smithy]

One option I'm considering is to lighten up on g&s at the close tomorrow Friday

if the entrails favor that.

[jabat]

Avi     Nightly Wave Analysis      Metals Update

Leading Diagonals Are Treacherous

Well, after the recent action in silver, I officially moved into a leading diagonal potential for wave i off the lows.  And, as the title of this update notes, they are quite treacherous to trade.    Moreover, as you probably know, I do not trust them until they are proven.

But, even at this time, I cannot even say that we will get a leading diagonal with a high probability.  We still need to rally to AT LEAST the 24.60 region, which would be the absolute minimum expectation I would have for a 5th wave in a leading diagonal.  So, in that regard, there is still much to prove.

Moreover, even if we do complete that potential 5th wave higher, I still do not rely upon leading diagonals.  So, if we see a CLEARLY corrective a-b-c pullback for a wave ii, then I MAY begin to add some aggressive long positions.  But, I really would need to see a CLEAR 5-wave rally for wave 1 of wave iii to turn more aggressively bullish on a wave 2 pullback, as I discussed in my live video this morning.

And, just as with silver, GDX still needs to push a bit higher to get its potentially completed leading diagonal off the lows.  And, the same comments I have for silver apply equally to the GDX structure and manner in which I intend to trade the long side.

As far as GLD is concerned, I will simply want to see another push higher to at least the 168-171 region to suggest that we have 5 waves completed off the recent lows.

Unfortunately, the market is not providing us with the most solid of 5-wave rally structures off the recent lows.  Yet, we get what we get and we can’t be upset. (Yea, I learned that when my kids went to nursery and kindergarten).  And, with what we know about diagonals, at least we have a plan as to how we can layer in for the major rally I still expect in the metals complex as we look towards 2023.

[dougie]

 

Avi     Nightly Wave Analysis      Metals Update

Leading Diagonals Are Treacherous

Well, after the recent action in silver, I officially moved into a leading diagonal potential for wave i off the lows.  And, as the title of this update notes, they are quite treacherous to trade.    Moreover, as you probably know, I do not trust them until they are proven.

But, even at this time, I cannot even say that we will get a leading diagonal with a high probability.  We still need to rally to AT LEAST the 24.60 region, which would be the absolute minimum expectation I would have for a 5th wave in a leading diagonal.  So, in that regard, there is still much to prove.

Moreover, even if we do complete that potential 5th wave higher, I still do not rely upon leading diagonals.  So, if we see a CLEARLY corrective a-b-c pullback for a wave ii, then I MAY begin to add some aggressive long positions.  But, I really would need to see a CLEAR 5-wave rally for wave 1 of wave iii to turn more aggressively bullish on a wave 2 pullback, as I discussed in my live video this morning.

And, just as with silver, GDX still needs to push a bit higher to get its potentially completed leading diagonal off the lows.  And, the same comments I have for silver apply equally to the GDX structure and manner in which I intend to trade the long side.

As far as GLD is concerned, I will simply want to see another push higher to at least the 168-171 region to suggest that we have 5 waves completed off the recent lows.

Unfortunately, the market is not providing us with the most solid of 5-wave rally structures off the recent lows.  Yet, we get what we get and we can’t be upset. (Yea, I learned that when my kids went to nursery and kindergarten).  And, with what we know about diagonals, at least we have a plan as to how we can layer in for the major rally I still expect in the metals complex as we look towards 2023.

 

i think he is smart