Silver

is so well behaved and under heavy accumulation on the pullback;)

Silver

UUP monthly

appears to be in a horizontal channel –

UUP MONTHLY

$HUI 120

Would like to see some positive divergence on this time frame before re-committing long –

$hui 120

Today’s Wrap Up

Really liking where we ended up today. I was able to pick up some MUX at 2.19 and the structures of my charts have held where I wanted. Here’s a chart-based recap.

GDX – TL intact, double bottom, and divergence.

GDX

GDX Weekly – really wanted 22.30 area to hold and it did.

Weekly

DUST – bearish flag running smack into resistance.

DUST

XAU – have you seen anything prettier? wedgie into 50MA

XAU

UUP – classic BT

UUP

DGLD – looking ready to roll over at resistance.

DGLD

GDX – 15 min

Gold moved to a recent lower low again today, GDX did not. As the market moves into the close GDX 15 min chart is showing positive divergence on the RSI. A wee glimmer of light for the bulls…

sc

UUP DAILY

up trend still intact since the pivot

uup daily

USD/JPY

Monthly USD/JPY chart in comments, I need some feed back, fundamentally I see why the USD should capitulate but to me this chart tells a different story.

$USD Charts

$USD D1 USD W1 $USD W2 $USD Q

DUST 120 – 15

possible wedge – positive divergence jumps out at me along with other indicators

dust wedgeDUST 15

RE: NUGT 5

We have a potential double bottom with a positive div on MACD IF the low holds…
NULL VOID IGNORE DEAD FINISHED

SPX

here’s a potential pattern I’m watching

spx

VXN-NASDAQ VOLATILITY INDEX BROKE DOWN 3 DAYS AGO…

Warning to all shorts…
VXN

For All You SM Bears Out There….

be careful and trade what happens….not “what’s supposed” to happen!

Naz

DUST 5 -120

low risk pullback to the moving averages for an inverse h\s on the 5 min

momentum  still up with + divergence ( for now )

cluing in on the 5 min for signs of a reversal intra day

dust 5dust trix

GDX Daily…

Your target is also the black trend line on my chart which was support 2 days ago..
Do not know if GDX makes it to the gap or not…all eyes on the black trend line…
A BULL flag in the making…
Remember the RSI 14 thick black trend line breach would be STRONG confirmation…
RSI needs to get above 50 and BREACH
gdx

GDX Action Today – My Take

Looking for an open or early retest of TL and then the next leg up begins. Take a look at the structure of the TL bounces in late march and early April…I expect similar structure now. These things can take days to play out. We’ll see….

GDX

Looking to add to miner positions on TL touch.

EW Charts

Ok folks, the program says we have found the bottom of Wave 2.

^XAU27May16

It seems a bit early to me, but when you put the $XAU chart together with the following $NYA chart:

^nya27may16

Then you say “Well, maybe…” If the stock market hits its target and then begins falling, that could be the fuel to propel gold higher. Time will tell.

Platinum long term and daily chart

actually platinum is the biggest question mark in my mind in the PM complex… the move up so far looks more like 3 wave than 5.. unless you count the super bullish 1212 count that isn’t busted but in jeopardy since the connecting ascending trend line is busted and the retrace is very deep already.. and there is overlap which busts the recent high as being a wave 3 top.. so the abc sharp is the only the from an EW perspective that makes sense to me.. and the look of the weekly chart clearly shows that the correction looks unfinished.. with either count i have painted.. either way the C wave needs 5 waves and there is only 3 so far.. and since the initial A wave from the highs looks mor elite 3 waves than 5 I suppose that means the 5-3-5 sharp painted as the primary is actually less likely than the DZZ 7 wave count right?

www.tradingview.com/x/uR0zC4K0/

either way curious what quad and other here think about the long term count and the daily count from recent lows this year..

GDX

Chart in comments

Thanks to investing.com they have added some new tools, the only problem is if I want to post a chart it takes a snap shot of the screen and then my chart is inert and cannot be altered, when taking time to do a chart the last thing I want to do is redo all that work after I take a snap shot, so this is why a lot of times I post links, if there is another way and someone can help me out with this it would be very much appreciated.

Anyways, here is a GDX chart that whether you agree or not I think has some very eery connotations implicated by the fib tool.

What if we are having what all the Guru’s blame their shoddy analysis on……a cycle inversion. What happens if the dollar rally’s, the SM rally’s and commodities rally, all except gold because gold is the fear trade and fear is diminishing. ??

If gold takes a beating for a term, there are a lot of weak hands out there that are ready to dump to lock in profits, a waterfall event is not out of the question in my mind. Rambus took profits and someone else the other day at gold tent expressed their desire to lock it in, I am sure there are many traders/investors out there that have been beaten and scarred so they can’t be blamed for being gun shy.

Thanks for your attention.

Thoughts?

GDX Wedge

Lines up well with euro and DGLD, as well as UUP chart rolling over. I loaded up in my green buy zone…fingers crossed!

GDX

PAAS…

Since silver is expecting to outperform gold…
PAAS is high on my list to buy…
Appears to be a bullish wedge close to breaking out…
paas
You are so right Mark…just a few…
KGC
kgc
NEM
nem
OCANF with another bullish diamond in the making…
OCANF
AUY
auy
MUX
MUX
HMY
hmy

Euro Looks Ready to Surge

XEU

Ratio

GLD WEEKLY

GLD in a channel?  You can see the negative divergence on the daily and how it may take time to reverse it.   (all conjecture)

gld weeklygld daily

Michael Oliver interview

I have great respect for this serious and good “long term” analyst, he does note that the majority of gold bulls are out of this market (bullcers) and they have  lost the climb from January.

He uses a method(momentum analysys) which seems very effective in understanding the trend changes before they occur on the charts.
From the minute 15:20
http://www.voiceamerica.com/episode/92409/china-and-russia-are-launching-a-giant-gold-bull-market

$1,371

Is my target from here. I suspect 99% of the “gurus” would disagree which is encouraging 😉

Yes, you’ve seen this chart of mine many times before and it’s a great example of the dynamics of support and resistance. Just requires more days of patience to play than you’d like.

Gold

$USD

Dark cloud cover candle confirmed on the $USD, broken UUP wedge playing out as well. Check out the gorgeous bounce EXACTLY off the 24.58 fib level today on the UUP.

USD

UUP

Silver Backtest Looking Good

Silver

NUGT/DUST 60 Update…GDX Daily…

NUGT wedge continues down…this formation usually is of bullish nature…
DUST wedge continues up…
nugt
dust
Note the TSI 7,4,7 bouncing off trend line; this is our EARLY indicator (but can change quick)…
Price action still caught between trend lines..
HUNCH–COULD GET ONE LAST QUICK, FURIOUS DROP TO FILL THE GAP BEFORE THE TURN…
gdx

HUI Bottoms

HUI Bottom 2002 (Real bottom was a year earlier at 35 but this move was the real move that sealed the deal)

2002

HUI Bottom 2009

2009

HUI Bottom 2016

2016

Comments

2002 was an easy ride but took twice as long as 2016 to peak

2009 was considered a V bottom but LOOK how tough it was to get on and stay on…wild volatility on the first move

2016 has been fast and Furious and left all but the most nimble behind …which begs the question are we done with

the first impulse or just resting…I think done and now a consolidation !

SPX Wolfe Wave Update

Here’s an update of my chart posted 2 days ago. Nailed my target. What’s interesting however is that instead of tagging the target with a spike and decline like on every other swing high, this one is building a bullish looking flag instead. My money is on this powering higher once the flag breaks….to the upside.

SPX