Observations and Notes on an Ugly Core vs a Healthy Core

Today I wanted to mention a couple of observations in the Metals markets and the Dollar.    Also -  you may want  to re-read yesterdays report, it came out late in the day and really  not much  has changed. I am still trying to figure out if that HUGE move by GOLD & SILVER Monday indicates the end of a short first daily cycle , and the start of a new one?  If so GOLD would likely POP higher soon  (Jobs report? ) Or, As mentioned,  was that strong slam down & reversal just putting in a daily cycle high and now we drift down to a daily cycle low.   THIS chart was posted to show that idea in GDX 2008 lows.

You want to be in for the second leg up

  2008 Miners    

Some have stated that the recent surge in the DOLLAR  (And it continues overnight)  shows extremely bullish conditions and they fear that GOLD will crumble as the Dollar plows higher.

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Dec 2, 2014

 The move made by GOLD & SILVER  was very bullish in my opinion. Any pullback from here will be monitored, but likely as BUY opportunities.  The set up is great because it confirmed what I had been mentioning from Nov 7th,  that an ICL  (Those meaningful trade-able lows) was in place. We witnessed MANY shake outs each Friday along the way and FRIDAY,  ( That  1/2 day light volume day?  yeah right) ... SHOOK THE FOUNDATIONS, but the RECOVERY was just as breathtaking if not more so. Lets examine what it means going forward.   This was what happened Before the SWISS VOTE on Gold and what happened AFTER the VOTE was "NO".


GOLD - The shake out / Recovery was an explosive bull move.


Gold is currently down $13 as I write...is that concerning? ...

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Nov 25      PART 1   This  first part of this report I wrote at Noon time Tuesday. AUDIO LINK    click here / then click 'download' -  then click "open" & return here to follow charts when you hear the audio    Follow my thinking on this one  :    Earlier I discussed the SWISS BANK REFERENDUM and how some may be cautious going into the weekend with that on the table.  Anyone who has entered trades in the Gold & Silver markets may be planning on Selling Friday, especially if they didn't buy near the lows and cant take a possible "Gap Down" Monday after the vote.  I have pointed out that for the past  3 Fridays People are nervous holding metals positions into the weekend.  I see on several Blogs each week,  "I am NOT holding Miners into the weekend" and then Friday there is a sell off in GOLD only to see that  later it closes GREEN .   Interesting .  Could selling this week be  "The Final Shake Out / Leave many behind move"  before a nice break out higher?  Break out?  Yes, above the 50sma on $GOLD $GDX $GDXJ    GOLD 50sma dance   Read More