Marty…Everybody hates him

Bankers hate him . Government hastes him . Goldbugs despise him

Here is why :

Gloom and Doom in the PM Markets

http://www.armstrongeconomics.com/archives/35020

0

Dollar Fighting Back

RSI hasn’t crossed yet but close. Note FastSTO trying one more peak to the upside (but divergence is on our side!!)… ULT (a leading indicator is still showing strength)…. Unless the EWO breaks the upper magenta line, this move up is doomed. At least a 3-wave correction down before we resume the uptrend…

0716_Dollar

1

GDX Finally!!!

Trigger line crosses to the upside on GDX 2HR…. Per EW we should be moving up to at least the 38% retrace or previous minor iv high which are both around 18.03-18.06…..

0716_GDX

EWO is implying that yet another low is coming…. :-)

 

0

Two Paths to Chaos

http://www.armstrongeconomics.com/archives/35026

0

Gold/USD Ratio Chart

I find this fork fit interesting and it keeps my eyes open for alternative scenarios.  It’s amazing how often how the markets go in a different direction than everyone expects.  Trying not to have too much tunnel vision.

Ratio

0

Platinum 1000

Will she or wont she >

plat

0

Dollars getting Smaller

Australian Dollar

aussie

Canadian Dollar

loony

New Zealand Dollar

nzd

3 stooges

0

Thanks

Thanks for your postings, Trader Jack, Trektrader and all the others. Much appreciated.

2

The SPX is making a B-Wave top into the New Moon Timing Window – a C-Wave down on the could hit by Friday

The SPX, NDX, IWM and DIA appear to be making a B-Wave test of the highs from May and June into the New Moon today. With the VIX testing lower levels below 13 this is an excellent time to buy SPY hedge puts for a possible C-Wave down that could reach ES 1950 by August.

Trader Jack

To follow the waves and turn windows of the SPX and gold, check out my blog:

http://allstarmarkettiming.typepad.com/my_weblog

1

Critical time…

Double top right now on Dollar….

Double top right now on JDST….

May just break out to upside…. Wait and Watch time…..

UPDATE 1: Long consolidations are favoring the trend… Up on JDST and Up Dollar and Down NUGT… Also Gap up on JDST this morning favors a 1-3-5 formation to the upside. Tighten stops and let it run if it wants to…

1

OH OH!! Dollar Update

EWO has failed to make a new high but price did by 1 cent!!! CCI has crossed, RSI getting ready to cross, although not shown looking for abc formation on FastSTO so far have the ‘a’ and ‘b’…. This will be bad for JDST when it turns down….

Now what we have to watch for are long consolidations on the lower time frame charts… long consolidations mean continuation and lately this has been happening a lot!!!!

0715_Dollar

0

Note on NUGT

NUGT is close to trigger line crosses to the upside. EWO is telling us that we’ve reached the low… However, note the dotted line on the RSI. The RSI is touching it…. Normally I look for the RSI to cross below this line — right now it’s telling me to expect a lower price…. FastSTO normally would be showing an abc formation… right now it only has the ‘a’…. OH WAIT… is that a Wolf WAVE forming…. we have the 1 at 6.30, the 2 at 6.90, could be working on the 3 now…. hmmm…. Not saying not to buy it when we do finally cross (RSI that is) but expect lower price to come (although probably not much lower)….

0715_NUGT

0

Shorts Beware

Not feelin’ the love with JDST… EWO (as it stands right now this second) is not going to exceed the previous high if/when price exceeds 11.29 as expected (note: could double top or truncate)…. The next high will complete the (iii) with an abc pullback to the previous minor wave iv which would be around 9.63 or so…. and beware, there is always an alternate count…. completing three waves up could just be a corrective to the last downtrend so we can’t really “ass-u-me” that JDST will continue up after this next pullback!!!!

0715_JDST

To make things worse for the Bears, my Fav Trend Chart is now showing divergence… From past examples you can see that an uptrend “could” be just days away!!!! or NOT!!!!

0715_FavTrendChart

…. and for non believers in my trend chart a look at the GDX Daily trend indicators show that OBV is reaching an extreme low and slightly (very slightly) turning up, Wm%R is very slightly beginning to turn up (but needs divergence), and ADX is still solidly Bearish but will lag all other indicators….

0715_GDXTrendInd

New Moon today which may means market will fall in three days….. hmmm…. Three Push Up in SPY today which means we’ll in all probability have one more push up that won’t make a new high…. hmmm….

But do we really want to trust these guys!!!!!

0715_BearParty

Just Sayin’ lets be nimble… Watch the EWO… if we don’t exceed previous high with higher price that means at least a three wave pullback which could grow into something else!!!! Note that the coming wave (iv) in JDST could take days if not weeks to finish up and could be painful before we continue back up… too many if’s…..

0

JNUG

Trying a quick long position in JNUG based on GDXJ chart….may be a daytrade. Tight stops below channel and red line.

GDXJ

0

LETS FACE IT

PMs look DEAD here .

Nothing seems to be able to spark them .

I know ….I know…Everybody and his dog are bearish…so that is bullish

But really ….this is pathetic

HUI is at 13 year lows and falling

What a dismal sector .

Almost nobody outside our little gold circle gives a rats asp about PM Stocks

Time for a final washout

hui

If this were any other sector the washout would have come and gone already

But its a Religion after all

Come on Goldbugs Capitulate already

Take the medicine !

sheesh

2

SHORT THE WORLD MORTIMER !!!

world

1

JDST Re-Entry – $9.55?

Here are my thoughts on a good risk/reward entry if we get it.

JDST

http://schrts.co/FlEu39

 

0

GDXJ – Latest

If GDXJ successfully backtests broken resistance at 22.46, I am consider a very short term long JNUG trade.

GDXJ

http://schrts.co/DlA9aR

0

Tuesday Rick

$ DJIA – Dow Industrial Average (Last:17977)

Updated July 13, 7:15 p.m. EDT

Every Indoo rally during the last two months has gone nowhere, creating a bearish picture of descending highs and lows on the charts. If the short squeeze that got under way Sunday night is similarly destined for failure, we might expect it to top near the trendline shown. It comes in around 18094 today, with a downward slope of about 5 points per day. I’ve highlighted a similar trendline for the E-Mini S&Ps, but this one is much closer and could be hit today if there’s any follow-through to yesterday’s waft. You can use the target to get long or short, depending on how aggressively you trade. If you want to employ put or call options, I’d suggest interpolating with DIA, for which a comparable target lies (today) at around 180.70.

0713_Rick

0

GDX Update

The following daily chart shows my dilemma… Did we finish the (iii) today which is only 5 cents from my target… The inset shows the more detailed count on the 2HR Chart… on the 2HR I just can’t quite get to today’s low in 5 waves… Well there it is, I think we have a little more downside to go before we head up to the 18.21-18.79 area in a (iv).  The US Dollar is up in futures tonight (currently at 96.98) which tells me we have some more downside on GDX. The EWO on the GDX 2HR chart is telling me we have at least one more low; however, today’s peak with a lower price did not exceed the last peak… it was almost dead even. Although I’ve seen price action go both ways when this happens, the odds favor more downside!!!  Tomorrows price action will be important….

0713_GDXMoreToCome

0

Good Analysis from Clive

http://www.kitco.com/commentaries/2015-07-13/Gold-Market-Update.html

 

http://www.kitco.com/commentaries/2015-07-13/Silver-Market-Update.html

0

Dollar EOD Spike

0713_DollarEODSpike

0

SPY Phantoms Point Down

0713_SPYPhantoms

0

GDXJ Update

As posted last week, now that 22.02 support is broken, I think the next support will kick in around 21.30.

GDXJ

http://schrts.co/avCbgT

0

Rambus

Gold’s Peculiar 6 month cycles

http://rambus1.com/?p=40532

0

This is parabolic, this is a bubble jmho

http://schrts.co/yo1vhU

0

Interesting from the former Greek Finance Minister

http://www.zerohedge.com/news/2015-07-10/varoufakis-stunning-accusation-schabule-wants-grexit-put-fear-god-french

………………………………………

OK….Here is a thought

Anybody else thinking this ?

OK…The Euro Bosses give Greece the boot !

The whole country seizes up Riots Starvation Chaos the whole nine yards

BUT The USA fears Greece will run to Mother Russia

So….They bail out the Greeks…Give them a $50 Billion Loan (Pocket change for the US)

Loan schmoan…just give them a grant…..its just printed out of thin air anyhow

Now Greece can use all of this $50 billion for their economy and give the finger to their Bond Holders

Poof No More Debt !

Drachma Schrackma..Greece adopts the US Dollar

What the hell…

Greece Becomes the 51st State

Woohoo OBAMA CARE

Donald Trump Becomes the new Governor of Greece

Illegal aliens are shipped to Greece

OK OK…But everything up to the Trump card works

Just put a Greek Goldman Guy in charge and dump the Present Commies !…why not ?

Greece and USA new dance partners OXI !

0

UVXY easy trading range?

[UVXY 60 July 9]

[UVXY 60 July 9]

Call me crazy, but I took a small position in UVXY Friday before market close after looking at this chart.  A few days before I took a much larger position and after following the frantic action on the 5-minute chart for about an hour sold it all off and was happy to have made only $40 and have escaped without a loss.

There’s three tops and bottoms in the chart and one can imagine a fourth.  However, the last bottom was accompanied by a bear cross with the 13/34 EMAs.  However… the 34 EMA is much higher now after such a sustained increase in price and as a result the 34 EMA is closer to the 13 EMA than it was before, making it easier for them to bump into each other and produce a crossover where similar price movements in the first two bottoms didn’t.  In other words, I think the three tops and bottoms are the same despite the 13/34 bear cross; something one would otherwise be very foolish to ignore.

0

SPY Phantom Update EOD

0710_SPYPhantoms2

0

GDX Update

Would not be surprised if we have to “Reset the Bar” lower…. Wait and Watch Time…

0710_GDXUpdate

0