19375 replies to this topic

[senorBS]

Note on gold and metals in general, gold weekly RSI (38-39 area) now more oversold than any time since Oct 2023 low! and it appears to be basing for a turn higher IMO. Daily technicals became very oversold on this recent large leg down and stuff like GDX/XAU/HUI all made new daily lows THIS week registering a SECOND daily RSI divergence against the March "A" wave lows of this big correction, add that to the recent very bearish sentiment and now IMO the near term bullish wave counts makes this perhaps the best setup to reenter the metals market in quite a while, or at the least have a very good swing trade to the upside. Just my opinion and take it FWIW, and as always DYODD.

 

Senor

[crossd]

excerps from Tom McClellan..some interesting comments on the behavior of stocks versus gold....donc

 

But strong uptrends typically reveal themselves by showing big positive readings for the McClellan Oscillator.  You can get a small 15-day range indication at any level, provided that the Oscillator stays there.  What is important about the current low reading is that it is appearing as the Oscillator is staying quiet and very close to zero.  So there is no strong initiation indication. 

This is not the only type of indication of a quiet market.  The VIX is back down to a low level.  Bollinger Bands on price charts are pinching in, which is another way of saying that the standard deviation of closing prices has been falling.  Quiet markets more typically happen at price tops, when everyone is feeling like a genius for being invested, and no one sees potential troubles brewing.  Price bottoms, on the other hand, are louder and more chaotic.  Or at least that is how it works in the stock market.  Interestingly gold works the opposite way, with quiet rounded bottoms and violent spiky tops.  It all has to do with the nature of panic.  People panic out of stocks and into cash.  But they panic out of cash and into gold, making those spikes appear in the price charts.

Tom McClellan
Editor, The McClellan Market Report

[K Wave]

looking like we gotta wait until next week......

 

[K Wave]

If that turn is upon us...watch the one that likes to lead 'em on Sunday night...

 

[dharma]

patrick https://x.com/badcha...8672900/photo/1

 

 june 26 dsi got to 10 gold  and silver both

long but not convinced the lows are in.   saving some powder in case

dharma

[dharma]

posted in vedic astrology

dharma

[K Wave]

Watch that Platinum tonight...trying to rebound after the opening dip from the criminals

[K Wave]

The 1 backtest on PL holding so far... but if it overcomes that...then a very big Maybe

[K Wave]

https://files.zhedge...5&itok=GSs5YMc6

The image in the link above is actually a bit terrifying...it is the complete opposite of the covid low.

Ai implosion in 3...2....1???

[dougie]

https://files.zhedge...5&itok=GSs5YMc6

The image in the link above is actually a bit terrifying...it is the complete opposite of the covid low.

Ai implosion in 3...2....1???

cant read the label; options spreads?