GDX Daily

gdx
1st target 22.09

SPX 60

As planned, went short at the back test of the 13 EMA…
spx

DUST 60

When the bottom triangle line support is breached, below is the thin zone…
So, this would be good for NUGT…
dust
To help clarify the situation…
NUGT 15 appears to be in a bullish triangle awaiting break out…
Pink line is first target…
nugt

$NATGAS

Been following this inverse h&s for a while and it has now come alive.

natgas-bo

Silver

For Symmetry Lovers

This might make sense

silver

GDXJ…

I figured it out too :-)…
Get a life and follow the two lines!!!
gdxj

Heads Up

From TD Direct Online Broker

Effective Dec 9, 2016 two leveraged oil ETFs, UWTI and DWTI, will no longer trade on any national securities exchange in the U.S. Orders to purchase these securities are currently being accepted but this is subject to change at any time. Please use caution when placing buy orders for UWTI and DWTI.

I figured it out guys and gals…

Once these patterns cross, gold goes up.

screen-shot-2016-12-02-at-7-57-15-am

dollar diamond top?

back test and drop for nice correction to gap after NFP? We’ll see.

screen-shot-2016-12-02-at-7-19-23-am

UVXY

Got our “buy” signal today…
I am flat; however, I will jump aboard the train especially if the SPX falls below 2150…
Playing the market short with TZA…
I do not recommend this play UNLESS one can monitor all day…
uvxy

Bond Yearly Cycle

YCL should be imminent.

https://surfcity.co/2016/12/01/bond-yearly-cycle-update/

SPX update

https://surfcity.co/2016/12/01/spx-cycle-update/

Gold Cycle update

https://surfcity.co/2016/12/01/gold-yearly-cycle/

SPX

This chart is very bullish…
spx

Courtesy of “See It Market”…

GLD Tonnage

Last report = 885.

Now = 870.22

Natty Gas

Took profits on my Boil positions today. Find out why here:

https://surfcity.co/2016/12/01/natgas-cycle/

Its that Time of the Year

When we look around and see what is what and which markets have moved the best this year ( From Jan 1)

With 4 weeks left in the trading year…Rounding !

Oil is Up 40%
Silver is Up 20%
Gold is Up 10%
Commodities (Basis the CRB) are up 10%
Dow is up 10% ( but it was in a freefall for the first few weeks and is up 25% from the bottom in mid January)
Bond Yields (basis the 10 year) are up 5%
US Dollar Index is Up 3%

What are you smoking Fully ?

perf

So….What’s the take away besides EVERYTHING is UP ?

The US Dollar has basically been completely insignificant in 2016 as to what the other asset classes are doing !

So there…It is NOT The Most Important Chart on the Planet !

It’s Toilet Paper !

Ignore the Damn Thing !

NUGT 120

rejected off the upper rail of narrow wedge and 34 ema.

which way will she break…

nugt-120

SPX WEEKLY – DUST 30

SPX overbought and reacting off the upper rail of what appears to be a rising wedge.

DUST … trend line extensions

spx-weeklydust-30

DUST & JDST

2nd chart just a possibility:

dustjdst

 

SPX 60 Update…

Finding support at first level…
Possible back test of moving averages…
spx

$GDM 30 Min Chart

gdm-30-min

Think we have bottomed in the precious metals complex today Ding-Dong

Gold 20 Month MA

By special request from Daveinthe UK

You asked how this excellent MA looked at the close of the month ?

It Looks Dismal.

gold-1

Using this MA as a Guide since 2001 has been 100% even in 2008 where there was a whipsaw which had you out then back in ..at the same level)

There may be a backtest and if you are still in get out there if you are lucky.

This chart says “what the hell are you doing still in ?”

TLT Rate Shock

tlt-12-1

Bonds getting Hammered again. Breaking below a wedge today would indicate an acceleration of the downtrend.

However, the inverted hammer is sometimes seen at bottoms. Tomorrow is NFP so will be interesting.

Everyone is fleeing into the financial stocks.

SPX 60…

Well, let’s see which direction Mr. SPX goes…
spx

Bottom soon …

xauusd-120116

DUST 60

symmetrical triangle break out soon…up or down?
dust

25,000 $GLD Mar17 125 calls just bought $0.71

~$1.77m bet – First bullish metals flow I’ve seen in a while. Hmmm

How does the 20 month moving average gold chart look today?

This is a polite request to Fully to post his 20 month exponential moving average gold chart if he hasn’t in the past week or so, ’cause I haven’t got the charting stuff to do one.

I have done an 87 week ema which should or might be the same. It looks awful (blue line). This support is decisively broken by $70. The red line is the 40 wma (200 trading days) and I notice the price did a nice little end run around this line before the failure:

gold-87wema-20-months-plus-40wma-sc

By comparison, Fully’s chart showed that in the 2008 metals crash, the 20m ema was broken by about $120 ($681 price vs $800  20m ema). I think $70 is in the same ball park, especially since there is no massive deleveraging credit crunch and stock market panic crash going on at the moment. For this to be a false signal would there not have to be some massive exogenous event to create a false signal, such as happened in 2008? Bulls are going to have to come up with a real good excuse.

Furthermore, I don’t think this is able to be shrugged off as a strong dollar phenomenon. The action in gold in Sterling (not exactly a strong currency) looks even worse, since the pound has actually pushed slowly up against the USD in recent days and is now $1.25.