Armstrong – 27 Aug 14
Worth posting the reply…
Question:wonder if you have any idea what MA means by shift of capital flows and US share market is not lined up with this wave of the ecm?
Marty highlighted the coming US equity July high then either an Aug low (which both took place) or another low in Sept with a possible cycle inversion creating a Dec low which would put off the Oct 2015 parabolic top in US equities out to 2017
With that post Marty made he mentions, in my not so humble opinion, what ALL the goldbuggers have been missing since the Gold/US$ trade has NOT been THE trade effecting golds trends.
2000-2008 was ALL about US$ devaluation as everything from gold to corn to raw rice to oil moved much higher as the US$ index gave up 50 big figures!!
Gold is a currency, it is being traded off the action of $YEN, $XSF and $XEU…not manipulated but traded as a currency, period!
In a basket of currencies the 1982 low in gold was the major one. The change in the currencies and the birth of the G5 in 1985 helped to compel gold into its final low for 1999. It was not an intentional manipulation for gold, it was a vain attempt to reduce the trade deficit. Currency will be critical going forward especially with the birth of electronic currency on the horizon.
We are publishing the gold report by next week. We have included gold in each currency with the reversal and timing arrays. That is in A$, C$, Euro, Swiss, Yen. and yes, Chinese Yuan. Currency will have a major impact going forward. A real BULL MARKET takes place ONLY when it rises in ALL currencies not just one.
There is one very popular EWaver who consistently highlights the US$ vs Gold, I’m not knocking EWavers, what this guy doesn’t realize… his focus is on the wrong currency, I emailed him the chart showing clearly $YENs role since Abenomics and how gold follows….the guy never acknowledge the chart as he sent me information on how to follow his paid work!
Its amazing how SO MANY are following the wrong road map and their ego’s don’t allow them to admit their (continued) mistakes, they just hide behind the MANIPULATION excuse for every wrong turn gold takes…..LOL!!
The post that created shortstacks question:
its EURO$ targets, Big time!
Ties in with Armstrong’s call……1.29 in 3 months….1.25 in 6 months and year out target 1.20….again Not Gold Bullish
for Golds trend…..L@@King from the currency side I would be more bullish if $XSF and $XJY were suggesting a bullish trend for gold…so far its a weak argument.
Lots of the pm’s sector charts are showing the 2 tweaked indicators turning north (bullish) and the nose of the traditional set indicators sniffing the northern winds…we maybe setting up for another long side trade next week with our fav plays…follow thru is very important.
Good luck to those in early using their own approach
$GOLD…two inside horses turning north
$SILVER…two inside turning bullish….Closed out my short silver position today
$YEN…still turning north off key level…follow thru?
$USD…about to take a breather
Goldcorp…signs of life
GDX…the channel trade continues
GDXJ…tweaked indicators turning north
GLD…turning as well
$HUI…channel trade continues
These charts should stay updated so I have no need now to continue showing the action as it unfolds
Will be selling long positions in HQU and HSU Fri, holding NO positions over the long weekend and I imagine with BOJ, BOE and ECB meetings all on 4th next week the first week back from summer will certainly add some clarity to our Weekly charts by next Fri close.
Mr Market, give us some bloody MOMENTUM to trade!!!
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Just comment (anything) to my post so that I can email you
Overall its obvious they see a strong US$….127 is a key Euro$ level…as is the 84.74 $CAD level
Their Q4 $YEN target of 108 / 92.50 area is a Very key level on my Weekly $Yen chart below….
NONE of the above targets ARE GOLD POSITIVE!…I’m not suggesting Gold is going to tank, but lets not rule out a new Chop trading level instead of $1400-$1200…either side of $1000
Again Targets are just that targets, lets focus on the trend indicators the charts produce for direction.
If it weren’t for the BOJ meeting next week (on the 4th) I think there would be more reaction to the news, the Spot Monkey currency boyz will be sitting on their hands waiting to see what the pension funds and big corporates do…they too will be waiting for the BOJ
Japan is just plain….how you say in Japanese, Screwed!! between a rock and a fortune cookie
DEflation and INflation at play = Stagflation
regarding Gold. I got an email from a buddie suggesting I get myself well long everything pm’s has to offer, lol…based on KWNuts (as a joke)
David P from Europe don’t you know, suggests Gold is a Coiled Spring looking to take out $2000 within 3 months IF history repeats, doesn’t history have to happen the first time in order to repeat???
So in 2011 gold climbed from $1300 to $1900 in 7 1/2 months, we now are to be amazed as gold climbs even higher in 1/2 the time.
Where do they find these legends in their own minds!!
I’d have to be on crack to make this call…maybe David P is related to Po Bologna
Anyone tell me other than the arrow drawn on the chart where a $2000 target comes into play?
notice I didn’t say opinion, lol
Doc Copper was kicked in the bag today, ouch! I’m going to disagree with my friend Dan Norcini regarding Doc Coppers value.
Copper use to be a great indication of global inflation, making its highs as silver did in 2011 but recently we have the $GNX, $CCI, $CRB and $WTIC all falling hard of a June 23 high while Doc Copper does his own thing.
I think the BOChina is protecting the line @ $3.00 …..there are a lot of Big players and companies that have leveraged loans held against Copper…and a lot of those loans are held within the shadow banking system in China…Only the Shadow knows….that’s my Paranoia Will Destroy yah call of the day
What makes ta so much harder than 10yrs ago? A breakout was a breakout a breakdown was a breakdown. Now breakouts get sold and breakdowns get bought it seems.
(trade the trader https://www.youtube.com/watch?v=GNEF1Iszy6c)
That ascending triangle broke out got sold and breakdown is underway.
buy it didn’t show up in the comment section?
grin, have a look at these two charts, you tell me what currency gives us the best clarity regarding Golds action as a currency.
$YEN…Weekly chart…L@@K at how the 99 and 95 zone clearly shows the Channel trading Gold has been stuck between…wake me up with a Hammer when $YEN “closes” outside that channel
$USD…same timeframe…clarity, where?….forget using the US$ as a guide for gold that was a perfect currency trade from 2002 to 2008..notice the out of sinc Gold pricing highlighted with ??????
L@@King at the $YEN chart, data that’s out of whack could start a trend, remember ALL government data is 100% BS so BS if piled high enough can often get the job done that the BOJ hopes for…..
JPY Jobless Rate (JUL)
3.7% Forecast 3.7% Last
JPY National Consumer Price Index (YoY) (JUL)
3.4% Forecast 3.6% Last
Its rare not to get either a full gap fill or a 1/2 tag…GDX’s most recent gap had a 1/2 tag in todays action (so far)….the last 10 weeks NO gap was not filled…Only the gap that created the channel trade of the last 10 weeks has not been tagged….yet?