22 replies to this topic

[johngeorge]

testing 900 resistance again. xau/hui tested the 50% retracement, close enough this am. will this time be the charm? stay tuned. this is the battleground. 900. no doubt we take this out @some point. is it today?! dharma

dharma
We may know in just a couple of hours as the House is scheduled to vote on the bailout bill @ 1PM Eastern time.

Best to you

[dharma]

above 910 spot and gold is gonna blow. shares are a major disappointment. dharma

[dougie]

well now what: why is everyone seeing this a s wave 2 low in Miners? I cant see that on the charts...

[dharma]

the resistance looked like it was going to become support yesterday, but it wasnt to be. xau/hui are hanging around their 50% retracement levels. i am still in the camp that says we had a 5 wave advance and we are retracing that advance. so patience is required. we did retrace .618 of the decline in lightning speed. patience is required here. dharma

[dharma]

anyone notice gold was down $40 @one point today and gdx closed almost unch. dharma

[johngeorge]

anyone notice gold was down $40 @one point today and gdx closed almost unch. dharma

You betcha! Me and I would guess many another as well. What we have been watching and waiting for.

Best to you.

[dharma]

gdx did not follow xau/hui this am it finally looks to me like xau/hui has bottomed! dharma

[dharma]

gold, xau, and hui finished a 5 wave up move and we are into the correction. things are moving very quickly . using 5 min charts. dharma

[dharma]

gold, xau, and hui finished a 5 wave up move and we are into the correction. things are moving very quickly . using 5 min charts. dharma

the ferocicty of this move caught me off guard. the miners are getting killed, both have corrected more than.618 . watching when i have something to say, i will. i am curious to see if this loosens up supply. dharma

[dougie]

hard to make out what this is. the down today like a C down an ther eare three clear waves down after 5 up so a wave 2 deep retrace is the bullish read. bearish read is this is all part of a B