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In some situations, patience just doesn't just come naturally. We need to train ourselves to be patient. Here at Chartfreak, while looking at a few nice trade set ups here and there, we've really been waiting patiently for...
Read MoreIt gets mesmerizing & hypnotic if you stare at it too long. Yes, the picture above, but also the Metals and miners markets. I wanted to just pop in intra-day and address a few thoughts, I am getting some "Concerns" about Miners dropping even lower here. Yes, GDX is lower and Miners look weak, but in a drop to a daily cycle low...that is what fools everyone. Let me show you 3 charts that can help us to gain confidence.
Read More Right now I am comfortable with the present information indicating that we did see an ICL in Early November. It also appears that when we look at Gold and Miners, they have moved forward in what is likely going to be a "Right Translated" daily cycle. There is no way to KNOW this ahead of time, but what This means is that it "Peaks" its highest point in that Daily Cycle more than halfway through it. That also means that it will break to new highs once it has found its daily cycle low and reverses higher. So while I am comfortable that things are still lining up properly... I never like to get Overly Comfortable. The markets can do anything , so we stay alert . Lets examine what the Gold/ Silver/ Miners are looking like after last week, and then discuss a few other things.
Gold On Friday after the jobs report ended like this -
Notice this important fact about Gold ...
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