Fully, Hecla could be showing us how the correction will resolve.

UWTI cannot breach the 21 ema…

WHAT THE HECKLA ?

HL HAS BEEN A LEADER in the Silver Space for some reason …Back in the day it was a Dog

hl

Big Volume Too

hl

Diamonds and DUST

still inside the diamond…

dust-diamond

The Big News Today is ?

This Trumps Trump

COPPER !

COPX the Copper Miner ETF is UP 4%…breakout…Inflation ?

copx

SSR’s on NUGT & JNUG @ IB From Yesterday Til Tomorrow – EOM

Careful DUST people

Slope 20 heading DOWN…

SLV – 2 Hr

Buyers continue to step in at higher lows…

silver-triangle

HL is leading the way…

hl-daily

 

Gold and Silver Diverging Today

Not often we see Gold and Silver Diverging like this

Gold down $7
Silver up 15c

ah..Copper UP 3% that’s why

diamond DUST

stuck inside a diamond….. big head and shoulders pattern developing?

Note the MACD below is forming a head and shoulders pattern.

dust-diamond

GDX and DUST

GDX has now breached its short term Trading Cycle or Daily Cycle uptrend line.

While it may bounce here, a breach of the uptrend line usually signals the move into the next TC Low or DCL has begun. The tricky part here is that I have Gold on day 22 which is the early part of my Timing band to find a TC Low or DCL. Based on this alone, one needs to be careful with short positions, IMO.

Charts in attached link.

https://surfcity.co/2016/11/08/gdx-and-dust-2/

UVXY ….. DUST

looking for another pivot low for UVXY

dust-daily

several …

Yesterday was a day – as  guess – against everybody expectations. To put it short … charts being painted.

UVXY

Yesterday UVXY got a hit of minus 25%. The moment 61.8%FIB-retrace gave I sold leaving no gain-no profit. Well so be it. Better that than loss.

My 2 cent … tomorrow S&P has a final blow-UP creating ´the´ final high. On my UVXY-daily I have a potential target of aprox 11-ish which would be a 33% downdraft.

uvxy-15sp
JDST … I took profits yesterday as with this election it is ridiculous to be in any trade as for PM. So I am flat in PM.

EDIT: maybe I am looking through strange glasses but both JNUG and JDST are in a bearflag so trading these for now is absurd.

DWTI … still holding as I believe we might be in a retangle between 88-77. It is approaching the MA(50) which would meet the possible retangle.

dwti-60

Gut feel … WTIC and/or DWTI might be our guide for PM-SM. So I am watching the possible retangle.

Good luck to anybody trading into the election. It is beyond any NFP or FED was what we are used to.

 

The shorter term pattern on the pm miner indexes

On the chart to the left below is the pattern I see short term on the pm miner indexes right now, using GDXJ here as a proxy for the other indexes.

A falling wedge with a FBO and an undercut low. This pattern is on most of the indexes. And look at how well that pattern fits with the longer term chart to the right; a falling wedge tagging the EMA30 weekly. And the FBO on the shorter term chart to the left is also on the longer term chart to the right in the form of a small dip below the EMA30 weekly.

gdxj-2ver3newgdxj-po-153-ver-2

Looking at the chart to the left above we can see that we have wiggle room to the downside within the falling wedge to circa 38. If we have a closer look at the current bear flag, which I do not think is a valid bear flag that will play out, we can see below that that would correspond to a FBO out of the false bear flag.

gdxj-1-h

This scenario also corresponds to a DB with or without a FBO on $GOLD:
https://goldtadise.com/?p=386230

This is very bullish looking through my lenses. And the above is my guess and my short term game plan at this point.

DUST

Took remaining profits on my DUST position at 37.10

Looks like more choppy action in the PM complex but Time is still an issue for moving much higher in the short term, IMO.

Okay election prognosticators–What if the gold price is predicting the winner?

Possible IH&S Patterns For UUP & $USD

uup usd

DUST DAILY

Wave 5 hit the upper rail today……. now does it continue on up to form a neckline and then double top..

30 min cycle is oversold with + divergence.

Because I am also keeping an eye on this character in white…. he seems to be concerned that his shoulder is not responding to the big 11% up move today…..

 

dust-dailydust-30dust-spook

SILJ 2 Hour Appears Bearish…Our “Leader”…

Gap fill and indicators turning down…
silj
I am flat the PM sector…
Monitoring potential path for DUST…
After the next small drop, the next pop should be large…
dust
VXO “original formula” VIX…
vxo
http://stockcharts.com/members/articles/pring/2016/11/Monday-triggers-a-dow-theory-buy-signal.html
Dow Theory Buy Signal…

TLT:GLD RATIO ANALYSIS………..$WTIC comparison

– 30 min inverse h\s playing out ..

tlt

and the quarterly ratio appears to be flagging

-WTIC big drop has been compared to what will happen to this ratio, but as you can see the negative divergence was so exaggerated on wtic so as to be a no brainer,

whereas none on the ratio.

Btw, it appears there is a little more time on the quarterly cycle for WTIC before the next big move.

My oscillator is not shown but it has yet to reach overbought.  It would be at about 70 on the stochastic scale.

tlt2wtic

 

WTIC Intermediate and Yearly Cycle update

https://surfcity.co/2016/11/07/wtic-yearly-and-intermediate-cycle-update/

GDX 30…

“Easier” trades in play…
I.E. WTIC NG
Daily/Weekly appear bearish for GDX…
IMHO, any pop into resistance should be a short…
gdx

gdx
Back Test

UNG CYCLE UDATE:

The cycle low put in a doji candlestick right on cue.

This is not rocket science.  Just applying the tools that are available.

ung

SPX fractals

serial head and shoulder patterns playing out…. what are the odds?

spx-fractals

SPX Yearly Cycle update

https://surfcity.co/2016/11/07/spx-yearly-cycle-update/

For RTV – Silver

If silver were to fall back to ~ $14.50 and then rally from there, it would have made a higher low. It would also fall below the SMA 200 on the monthly again,

just as it did at the start of this year/end of last:

s1s2 s3

$Silver – Daily

JenkinsLane –

I don’t know if a Hillary win is already priced into G&S or not…I do know a Trump victory is not…

In any event, I don’t think Silver is confirming your HS patterns, looks more like a bullish IHS to me…

silver-daily

 

 

 

Possible H&S Patterns For Gold, $GDM & GDXJ

The “Clinton Wins!” outcome?

gold-d gold-m

gdm gdxj

Steel

slx
No one bothers to follow Steel much BUT it is in a rip roaring Impulse move UP which started exactly the same time the HUI started up

They have been lockstep until recently

Steel ETF is making a new high today…will HUI catch up ?

Interesting outlook for gold

I like this because it lines up fairly well with the ’76 analog.

screen-shot-2016-11-07-at-1-23-14-pm