Computers are painting charts?
May 22
Computers are painting the charts? I’ll believe that when I see Elephants painting Elephants! Oh wait- I HAVE seen that. So ‘IF’ they have hired a bunch of tech savvy students to run algorithms to “Paint the Charts” into forming Head & Shoulder patterns that break upwards and the MACD crossing down only to see prices spikes up after many go short, etc , then they’re doing an AWESOME job in the P.M. markets. I’ve been Bullish ,flipped to bearish , and now I’m seeing signs of bullishness again. Lets look at the charts and then review some OTHER areas of possible trades setting up too.
$GOLD
So far, when it comes to the expected drop , they haven’t been able to sell it off. PRICE , RSI & MACD in GOLD have formed higher lows so far. A close above the 50sma is Bullish I.M.O.
The interesting thing is that I have close friends that trade , some are expecting a STRONG SELL OFF , others are expecting a short covering STRONG RALLY. When they look at a sideways move on that chart -the Bias gets in the way. 
-The bulls say “They cannot sell this off , last year this would have dropped 20% in days! This sideways move is showing a lot of strength!”
-Then the BEARS say, ” Look at this weakness!! After running up from Dec lows, they cant even get a follow through rally going after a healthy pullback? THIS is a sign of weakness. It should have rallied by now Get ready for a crash!!
A sideways move is a sideways move until it breaks & trends, best to leave a “BIAS” at the door when trading a sideways move…be quick & Nimble & willing to change your trade. And sometimes they do a false break & Reverse…so caution here.
I have been watching and Tweeting updates of GDX/GDXJ for weeks- TRADE-ABLE, but not much has changed. Here on MAY 9 price was $34.83
Price yesterday May 21 was…..$34.83 also, so sideways is sideways. I wanted to look at something else , however. The following are Miners that are looking rather bullish, so I’m keeping an eye on this to look for signs of which way this sideways move may break. On to the charts….
.
FSM
MVG – Is this bullish or bearish??
BTG– This seriously looks more BULLISH
Trust me, there are plenty more miners setting up bullishly, but I want to post this before the open so I cant post all that I am seeing. Yes, others need work, but if they are painting the $GOLD/GDX/GDXJ/ charts into a “sideways, is this weak or strong ?” type chart- I am just looking for clues INSIDE the Market. I’m seeing some strength inside. 
Since I want to post this now, I may post more as the day goes on (Adding to this report) so follow me on Twitter & I’ll tweet when I have done so, or check back later…I may add additional charts (NOT Precious Metals) to this report. I saw some interesting developments yesterday,may be worth watching.
Thanks for reading & please pass this on to friends / retweet my Tweet if you think they may enjoy or benefit from it. Much appreciated ~ALEX
Thanks for the update, Alex – glad to have you back. Can you tell us if you are playing the short side in any way, or are you just waiting?
Hi Rob – I was in JDST, but I am actually neutral. With this report I am seeing bullish set ups forming in some of the Miners, so I am seeing things differently right now. I know MOST are expecting a huge slam down into June, but with some miners 6 month charts look good (see also PPP,MVG) I am now waiting for confirmation . Also I’ve used this chart from may 6, nothing has changed
Thanks for the update, Alex – glad to have you back. Can you tell us if you are playing the short side in any way, or are you just waiting?
Hi Rob – I was in JDST, but I am actually neutral. With this report I am seeing bullish set ups forming in some of the Miners, so I am seeing things differently right now. I know MOST are expecting a huge slam down into June, but with some miners 6 month charts look good (see also PPP,MVG) I am now waiting for confirmation . Also I’ve used this chart from may 6, nothing has changed
Take a look silver miners like SLW, SSRI, AG and tell me if they look bullish?
Kalle, It is my understanding, from reading the article, that within the ‘bearishness’ of the PM sector many miners have bullish charts. If there is a drop, it could be much milder and much shorter than many expect due to this hidden strength within the sector.
This is my interpretation anyway.
yes, inside the ugly there is a ray of hope or two : ) Thx Rob
Hi Kalle, Thanks for reading. Yes, I’ve seen SSRI and AG and I agree that they do not look bullish, but look at AG from Nov 2013 to Dec 2013. Not many stocks look BULLISH at their bottoms or Lows. “AG” does have signs of bullish change at its lows here , and my report is showing how other Miners are exhibiting strength at a time when Most expect a slam down. And think about this…SILVER has done NOTHING lately-many are calling for SILVER at $14…then look at the charts in my report of MVG , FSM 6 month. Someone has accumulated silver stocks here, and in the past 2 yrs they sold off like they were molten lava. Heres a chart of “AG” to show POSSIBLE bottoming signs. click on it to enlarge & Thx for reading!!
Take a look silver miners like SLW, SSRI, AG and tell me if they look bullish?
Kalle, It is my understanding, from reading the article, that within the ‘bearishness’ of the PM sector many miners have bullish charts. If there is a drop, it could be much milder and much shorter than many expect due to this hidden strength within the sector.
This is my interpretation anyway.
yes, inside the ugly there is a ray of hope or two : ) Thx Rob
Hi Kalle, Thanks for reading. Yes, I’ve seen SSRI and AG and I agree that they do not look bullish, but look at AG from Nov 2013 to Dec 2013. Not many stocks look BULLISH at their bottoms or Lows. “AG” does have signs of bullish change at its lows here , and my report is showing how other Miners are exhibiting strength at a time when Most expect a slam down. And think about this…SILVER has done NOTHING lately-many are calling for SILVER at $14…then look at the charts in my report of MVG , FSM 6 month. Someone has accumulated silver stocks here, and in the past 2 yrs they sold off like they were molten lava. Heres a chart of “AG” to show POSSIBLE bottoming signs. click on it to enlarge & Thx for reading!!
I just noticed that my attached charts arent attaching here? I hate technology glitches. If you are reading here KALLE – I will try agin here, if I see it doesnt work, I will then post that chart inside this article at the end for you. Thx
I just noticed that my attached charts arent attaching here? I hate technology glitches. If you are reading here KALLE – I will try agin here, if I see it doesnt work, I will then post that chart inside this article at the end for you. Thx