I Think Its Time

/15 Comments/in /by

After looking at a few thousand charts yesterday , I am thinking that it might just be time to take some positions if you dont have one.  Though we "COULD" dip down into a daily cycle low, I again have to wonder if that SMACK DOWN last Friday-Monday was the end of a short daily cycle.  THAT would mean we are in the 2nd DCYcle.   Also looking at charts of many Miners yesterday, they look like good set ups , some have very little downside risk vs what could be a nice %-Gain to the upside.  Take a look with me and see what you think. 

 

GOLD 4 hr chart this morning.  Looks pretty bullish as I write  (7:00 A.M.)

4 HR GOLD  

SO I mention above a possible future DCL with the Jobs report Friday, but this cup & Handle also looks like it could POP higher for a couple of days.  IF a DCL is still ahead, it THEN may only drop to a DCL that isnt  much lower than right here if break out of this cup/handle soon.   LOOK AGAIN at GOLD WKLY as of yesterday...

  Read More

Observations and Notes on an Ugly Core vs a Healthy Core

/9 Comments/in /by

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.

  Read More

THAT WAS BULLISH

/8 Comments/in /by

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.

WHAT HAPPENED    

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

  Read More