JNUG

Here’s what I think is going on now.  We got the bounce I was expecting but I traded it miserably.  Now I think we have a rejection at the lower rail….former support becoming resistance.

JNUG

http://schrts.co/KQVElq

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Silver Backtesting

SILVER

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GDM Update from Rambus

http://rambus1.com/?p=43497

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Any Charts on WTIC tonight…looks like a breakout…

WTIC

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GLD was not bullish today…

GLD

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Attention Dollar Bears

DOLLAR

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NUGT ready for Blastoff?

NUGT-5 min

 

Strong rally into the close saved the day. Appears NUGT may have completed a series of 1’s and 2’s.  If so, we should see a pullback in the morning and then a blastoff through today’s high for a strong third wave advance. Only time will tell if yesterday’s low is a lasting bottom.

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What I’m Seeing in JDST and GDXJ

My current assessment in a few charts……

JDST may be bouncing off 20ema on the daily in the new uptrend:

http://schrts.co/FzcaZo

JDST may be backtesting the breakout on the 30-minute chart for a 2nd time.  Not unusual before a trending move up:

http://schrts.co/hyklME

GDXJ may be making a bearish backtest on the broken channel:

http://schrts.co/TUnMMp

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Been Buying Today on Possible New Supports – DUST/JDST/ERY

I’m testing my premise that some of these breakout levels are now morphing into new supports so I’ve been buying on the backtests.

DUST

DUST

JDST

JDST

ERY

ERY

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Gold is looking a lot like the Yen last year.

Here is the Rambus chart for the Yen that seems to fit in with the Plunger’s theories on where we have been in the gold market, perhaps coming into phase III of the bear market.

http://rambus1.com/wp-content/uploads/2015/03/xjy-day1.png

As I understand it,the green circle is the transition from phase ii (consolidation) to phase iii.

If you look at what gold is doing right now, it is in the equivalent of the green circle (action in the Japanese yen from September 2014), just coming off the high that topped out about halfway up its trading channel. Uncannily similar in my naive view!

Of course, it depends where you draw the lower line of the consolidation but as with the Yen gold is tending to accelerate to the downside gradually during its consolidation and then fall through the bottom of the channel. I have tried an OHC daily chart and a weekly chart but it is a lottery.

Is Phase III for gold about to begin?

gold hlc bars trend bad 2

gold gold fails sc (1) blog

I am going to ‘quote’ the Rambus Yen chart below. Any objections and I can remove it if needed!

xjy-day1

 

 

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Fill er Up

fill

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Monthly Dow Trend Line

LT Dow Trend

I think it is very important for stock market bulls that the DJIA not close below that lower trend line on Monday, the last day of August.  Whatever kind of sentiment the market was feeling today needs to be maintained.  Did Dudley’s comments today reassure the markets enough to stop the bleeding, or was this just a short term reaction?

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GDX DAILY RENKO WITH SELL SIGNALS ON ALL INDICATORS…PSAR WENT TO SELL TODAY

This is my ULTRA conservative chart I pull for the answer…

Good night guys/gals; tomorrow should be exciting…

GDX

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Welcome Wonderwayne

Back Up the Truck ?

That is not a welcomed phrase here .

Too many people have been run over by the truck backing up

Please read this …Our mission statement and raison d’etre

http://goldtadise.com/?p=338520

The Perhaps PLUNGER’S FLUSH may interest you

http://plunger.goldtadise.com/

…………………

All Opinions are welcomed here if they are TA Based

But Prepare to be debated

Regards

Fullgoldcrown

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Back Up The Truck!

Howdy All,
Bottom forming with new BPGDM at double bottom of Zero bulls. Translation = NO gold bulls left!
Beautiful chart GDXJ 2 million share downside action last 15 minutes today, may well spell “exhaustion”.
Nobody left except short sellers. Perfect base with panic sales sets up nicely for next leg up.
The street for PM shares is filled with bright red blood.
Wonderwayne

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Keep Stacking

stacking

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This was the pattern DUST 60 had today…

Ascending-Triangle-Price-Pattern

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Today’s Charts that Made a Difference to Me

This is what I thought was going on and what I was trying to trade but the fact than no buyers were showing up when the S&P was rallying hard AND Gold was going up spoke volumes to me. Typically a nice risk/reward setup but something else extraordinary seems to be going on.

NUGT

I’ve never seen action like this.

GDXJ

I’m looking for the 2nd drive down now on the HUI weekly:

HUI

Three drives down in progress I believe shown on the GDX daily:

GDX

Bigger picture JDST. I think touches to 20ema are great places to add.  I’m still shocked we didn’t get one of those opps today!

JDST

I expected red circle to be massive resistance but now I suspect it may be new support since it sliced through it.

JDST

DUST defeated resistance today.  I never bet on that happening but respect it and trade on it when it does.

DUST

 

 

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DUST 2….

This is going to show direction at the open tomorrow…

Stay tune for the daily game “Which Way Does It Go”??

dust

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Amazing guesswork

I was really just playing with possible resistance levels when I came up with this forecast on August 14th.  Turns out it was a pretty good roadmap.  I should have followed it

sc-1569

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JDST support and resistance

JDST 60 suggested support and resistance lines

JDST 60 suggested support and resistance lines.

I’m sure these can be tweaked a bit, but I post them as my best guesses.  I find it helps with one’s overall mental state if they know ahead of time where to expect prices to get snagged, slow down or bounce.

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We are at the start of a possible FLUSH Heads Up!

http://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=0&mn=6&dy=0&id=p68525248699&a=385190219&listNum=1

13.00 is critical…GDX HAS A MACD BEAR CROSS

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OH SAY CAN YOU SEE

STAR SPANGLED BANNER

DOLLAR

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Possible Gold Bounce @ $1125

Again, it will be completely corrective but I’m guessing wicked enough to shake the tree a bit.

Gold(5 Hours)20150826091517

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Gold downward channel

Gold 60 min channel Aug 26

Gold 60 min channel Aug 26

Gold seems to have slipped into a groove: slow, steady and downward.

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GDX DAILY…

GDX3

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Long JNUG Here….Why?

I thought some further explanation was warranted.  See my JDST chart below.  Ultimately being long JDST is where the bigger move will be but the odds are really favorable for a JNUG bounce here and it may be much bigger than you suspect.  It’s also oddly comforting that no one else is openly supporting this view….my most profitable trades seem to occur when 99% of the folks are crowded into the other side of the room….hehe

JDST

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Dow :gold

there’s a baby that was truly abandoned…lol

http://schrts.co/zJshkz

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Plunger …re XLE

The Mother of all Bearish Engulfing Candles

xle

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XLE IMMEDIATE POSSIBILITY

sc-1562 sc-1561

DUG IS THE 2x LEVERAGED BEAR ETF FOR THE OIL SECTOR !

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