Goldtent TA Paradise

Nugt 60 appears to be BULL flagging if price action stays above 34 EMA; trend is still NUGT d/t 13/34 EMA BULL cross…
DUST 60 could be BEAR flagging; price action so far repelled by 34 EMA…
I am closing my DUST…

Thanks Fully, and to the reader who inquired about my work.  Below is the updated chart for GDXJ, with Fib time series applied.  I took a break from posting to lurk from the sidelines, which I enjoyed, but expect to be posting more often.  I have some friends who are interested in learning about trading, so I will encourage them to visit this site.

As you can see, we did indeed get a trend change at about March 10, as called for in my previous post.  In addition, we also saw the market turn at about the first of May, at the confluence of two fib series.

Please note the addition of two new time series, the gold series placed at the March bottom, which by the way – called the intermediate high of $38.57 almost to the day, and the grey series, placed at the May bottom.

So what do we see now?  A cluster of several fib-cycles coming together during the latter half of July, one of which represents day 144 of latest cycle within the red time series.  This is the time series that began with the bear market bottom in January, 2016 – so I expect the end of that important cycle, along with the confluence of other, more recently placed time series, to represent a significant turning point.

Please also note what appears to be a rising bearish wedge denoted by the blue trendlines, which bears watching – pun intended.

Strikes Again !

100 mov avg resistance weekly chart

moving avgs. aligning up for a ride up = bad for gold

weakening rsi, 1200 possible target going by bol band and resistance

A reader would like an update on this fib series chart posted in March.

Looks interesting .

Update from our reader : It was posted by RTV

with these comments

RTV

March 9, 2017 – 1:35 pm at 1:35 pm

1. trading days, not calendar days.
2. no. next series will be 34 trading days, not 21 days, which is when i would expect the next trend reversal.
3. bear in mind that previous fib cycles continue to operate and can come along and exert their influence. for example, note that the december bottom was called based upon day 89 of the first (red) fib series.
4. also, when i see a confluence of one or more fib series, such as the august top, i will pay that special attention. this will also occur around the end of april/beginning of may, when day 34 of the 3rd (blue) fib series and day 89 of the 2nd fib series (green) fall within days of eachother.
5. one last comment – bear in mind that the next 34 trading-day period does not necessarily mean that price will roll higher. remember, that price can trend up, down, and also sideways! but whichever way this market proceeds – up, down, or sideways – i expect that to change about the first of may.

As said, the around the apex move for the falling wedge on U.TO daily I was looking for is completed, below. And that of course meant that we got a BO out of the daily falling wedge. Now we seem to have got the decisive move I was looking for since I think we just got out of our first ICL and with that also our first lower high.

And on the weekly we can see that we are now once again above the now support line for my massive 12 year falling wedge. I guessed two weeks ago that we would be back inside my massive 12 year falling wedge this month or next month.

Looking at URA below we can see that my adjusted neckline DB/triangle had three BTs and that we now got a BO out of the daily falling wedge.

The ones that doubted changing the neckline/support line on the daily/weekly can now see that that was the right move to do. There is nothing strange with doing that if the first line shows itself to be incorrectly placed.

I of course have lots more uranium charts but that will have to wait until I get time to make a larger post on uranium again. For now it is enough to know that we are still on track, which we have been since I said in Nov16 that we now are in a new uranium bull market. And, since the parameters for deciding that a market is in a new bull market are historical/hindsight ones, the technical evidence that we are in a new uranium bull market is not present now but will come. As I see it.

URANIUM LINKS:

My post from Nov16:
https://goldtadise.com/?p=387708

My big picture post:
https://goldtadise.com/?p=401780

Uranium cycles:
https://goldtadise.com/?p=403697

This is the plan…
Buy support; sell resistance
However, I expect $17.00 to breach today…

LINK…
http://stockcharts.com/h-sc/ui?s=TZA&p=120&yr=0&mn=3&dy=0&id=p21348526031&listNum=1&a=490577454

WTIC Bounce?

Again, make your trading decisions off the 2 hour UCO/SCO charts…

SPY:HYG
Has found resistance…
SM Health Indicator…

Tenter’s you should be aware that I am writing the weekend report every other week over at the Rambus site. Next weekend I will be introducing a new stock market indicator that has accurately forecasted every market drop over 5% in the past 12 years since it has existed. This indicator is exclusively for the Rambus site only and will not be posted here. I encourage you to come on over and check it out as it is flashing red right at this moment. Its past track record is amazing and no it’s not the Hindenburg indicator, its much more common sense than that. I will also be posting my views on how to position oneself for the upcoming credit contraction.

I regard Rambus’ charts as world class and frankly have gotten to totally depend on the insights found only in his work. When I think of how much money I lost in 2008 which was totally preventable if I had Rambus’ work to light my path I have to wonder why someone would not be a member of the site. It is my view that we are headed into a storm, it’s called a post bubble contraction. You can read my report on that as well. Tenter’s its time to prepare, I will tell you how I have prepared in this weekend’s report

Editor’s Note:

Posting With Permission Plungers : Saturday Special Oil and QQQ Update for Goldtent. Take the Plunge

https://rambus1.com/2017/06/24/oil-trade-qqq-update/

Thought I’d take a look at Bob …after Jordan’s Post mentioning Silver’s relative weakness.

Bob’s Chart is a symmetrical thing of beauty.

Look at where that spike down this morning hit !

Now we have our line in the sand.

Hold that line Bob.

Gold & Gold Stocks Nearing a Big Move