Chart from 7/1 – GDXJ

I was highlighting perceived risk after receiving so many comments about being militantly short at resistance levels and how risky it was to be anything but long during a parabolic gappy rise after gold almost exactly nailed my fib target of $1,371. I thought a 3rd wave was supposed to plough through resistance at those levels and the next stop for gold was $1,500+? Yes, I’m annoyed by some recent comments when I’m about the only one who isn’t even peddling a paid service. I feel like if you are any good at trading, you should get rich with your own trading capital and not subscription fees. My philosophy is building positions at good risk/reward levels, understanding structure, as well as support and resistance. If people are going to be more critical of me just because they are having a bad trading day then this is my last post here.



Charts speak louder than words. I know many will claim this time is different.


Bonds Tipped Us Off Again

The breakdown of the exhaustion sequence in TLT once again tipped off the move in the GDX.


DGAZ Update

Trucking ahead to our next fib target en route to $13+. Yes, amazingly buying support and selling resistance still works 😉


As I’ve pointed out in the past, there are many structural similarities between the PM and Natgas markets/charts right now.



Not sure how anyone could have seen this coming 😉 Don’t worry, the airy exhaustion gap sequence below should provide good support.



Krystar – here is one of the parabola charts I was following:


GDXJ Neckline Showing Cracks

Sometimes these supports simply collapse under their own weight and are particularly vulnerable to a swift move down when the underlying structure is so gappy. Nothing definitive yet but worth watching. Possible breach and backtest and now down….


3:20pm update – JDST breaking DT and falling wedge.


$NYA + S&P Update

As I was posting in May and June, the underlying strength in broader stocks, not just Dow and S&P, have been supporting this move to higher highs for some time now.


The bullish broadening pattern in the S&P I identified in May is playing out as expected.


Near term the S&P just hit my Wolfe Wave target identified at S&P 2000. Some pullback from here is expected.


Added for Ranchida – NYA Wolfe Wave scenario I’ve been watching since 9/2015



I know you guys think I’m crazy, but I still think NEM is heading to $28 from here.


Swiss Franc in Technical Trouble



Here’s an update of the TLT-GDX comparison chart I posted on June 2nd I believe. I was highlighting that the move/pattern break in bonds often executes a few days ahead of the same move in GDX. This was one of my charts that I used to support a move up on June 3rd. Well, I believe it’s now supporting the same countermove today. That is quite the exhaustion run topped with a possible island reversal in bonds….textbook if it plays out.