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we either have a wave 1 of a new bull market or more backing and filling


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#1 dharma

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Posted 05 January 2023 - 06:30 PM

snapshot of sivler

https://pbs.twimg.co...ng&name=900x900

rising wedge and loss of momo on  the oscillators 

 i am a cycle guy . the  23.5yr, 7.83 yr, and 31.33 month cycle are due to bottom  at the earliest the summer of 2023   does not mean that the cycle cannot left translate . so , i want to see what happens when the broad market seeks out its valuation.  for now i am going to count the coming correction as a wave 2  we shall see in the fullness of time.  the fact that cbs have stepped up their accumulation of gold reserves  as me taking note.  they are by far the biggest holders of gold . india has stepped up its purchases of silver .  we will see what we have over these next months.  Declines in the broad market begin slowly . OF interest to me is is silver, sugar , and crude oil have not exceeded their old highs. silver and sugar are selling below 50%  of their all time highs.   That has to be the definition of undervalued. the dollar has been falling in a wedge pattern .  apparently the fed wants a strong dollar and that is what we had in 2022

 dharma


Edited by dharma, 05 January 2023 - 06:31 PM.


#2 linrom1

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Posted 05 January 2023 - 08:36 PM

Russ, kudos for MA comments on political chaos in 2023. It already started and the rhetoric is getting out of control.



#3 Russ

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Posted 06 January 2023 - 12:56 AM

Russ, kudos for MA comments on political chaos in 2023. It already started and the rhetoric is getting out of control.

Yes and it's interesting that the last time the Congress was split like this was just a few years (1855?) before the civil war, this time Armstrong is saying that by 2028 the United States will be starting it's debt default which he thinks will lead to the break up of the country.  Surprising that Silver and probably Gold are stalling out just as all this trouble is happening. 


"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



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#4 Russ

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Posted 06 January 2023 - 03:54 AM

snapshot of sivler

https://pbs.twimg.co...ng&name=900x900

rising wedge and loss of momo on  the oscillators 

 i am a cycle guy . the  23.5yr, 7.83 yr, and 31.33 month cycle are due to bottom  at the earliest the summer of 2023   does not mean that the cycle cannot left translate . so , i want to see what happens when the broad market seeks out its valuation.  for now i am going to count the coming correction as a wave 2  we shall see in the fullness of time.  the fact that cbs have stepped up their accumulation of gold reserves  as me taking note.  they are by far the biggest holders of gold . india has stepped up its purchases of silver .  we will see what we have over these next months.  Declines in the broad market begin slowly . OF interest to me is is silver, sugar , and crude oil have not exceeded their old highs. silver and sugar are selling below 50%  of their all time highs.   That has to be the definition of undervalued. the dollar has been falling in a wedge pattern .  apparently the fed wants a strong dollar and that is what we had in 2022

 dharma

Silver's chart has a trend for an April low and with silver  breaking below it's ascending wedge that seems to be confirming this signal. April should be an excellent buy time.  


Edited by Russ, 06 January 2023 - 03:56 AM.

"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



http://marketvisions.blogspot.com/

#5 dharma

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Posted 06 January 2023 - 10:41 AM

today the moon is full in gemini (remember i do vedic astrology) i look for today to mark a turn in the precious metals .  WE should begin a correction, i am calling it a wave 2

dharma



#6 senorBS

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Posted 06 January 2023 - 11:27 AM

too much "short term" focus IMO, gold and silver are in a major bull mkt move and more than likely extending a wave 3 vs topping a wave 1 - either way does not matter, we will go way higher IMO this year. Looks to me like oil/oil stocks have finally ended their huge correction, looking for a major move up this year there as well, Accts have soared to new all-time high again, enjoy the ride and get out of the "trees". yes.gif

 

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#7 dougie

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Posted 06 January 2023 - 02:24 PM

interesting place here on weeklies



#8 dharma

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Posted 06 January 2023 - 09:59 PM

it sure looks to me like gold is rising in a bear wedge pattern.   

dharma



#9 K Wave

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Posted 07 January 2023 - 04:22 PM

next week looks big....

 

IF Silver busts out over 24, then may be all systems go for 2023.

 

But if not, then Gold and PL may stall at Friday highs for a bit.

And as Dharma mentioned, if indeed a rising wedge, breaks from those can be vicious.


Edited by K Wave, 07 January 2023 - 04:23 PM.

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#10 K Wave

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Posted 07 January 2023 - 04:30 PM

interesting place here on weeklies

And Daily as well....looking a wee bit extended, but if it manages to hold 30 on any pullback, maybe it finally punches out back into bull territory.

 

But generally speaking...a long leg into a 900 up or down, the 900 usually holds, at least for a bit anyway.

And this could still turn into a massive bearish upthrust 900 back test.

 

As long as Silver remains under 24, a time for caution at these levels.

 

gdx.jpg


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy