dow

room to run

courtesy of breakpoint trades.

Gold Aust$

I just wanted to show this perfect EW structure on the gold in aust$ chart.  Blue 3 is 2.618 X Blue 1, Blue 4 retraces 38% and the internal sub-divisions are perfect. The likely ABC red pattern and blue 5 should end around 1644. If this pattern completes and reverse in an impulsive manner then the neckline will break and 1560 becomes the likely target

$YEN – $GOLD

As a follow up to Fully’s chart showing gold breaking out in terms of $XJY,
here it is from another angle. Notice the positive divergence in the price gold to $XYJ.
This could be an important development for the PM bulls.

November

It seems to me that November may present a good buying opportunity

 

Re: NOVO

Although I bought NOVO with the intent to hold through thick and thin, I am toying with letting it go if it bounces up from here. I am leery of news on it and am fearful of an Nov.-Dec debacle in gold.

I know the news on it is very good, but can it really get any better short term..? Any opinions?

 

$USD Quarterly

We got the first EMA 13 BT on Oct 6th with a daily USD high of 94.10 and a EMA 13 close of 94.06.

Today, we got a second EMA 13 BT  to the same exact USD high of 94.10  and a EMA 13 close of 94.08.

This may very well be meaningless however, I wanted to share it for whatever its worth.

PS,  I re positioned the cycles to Northstars liking 🙂

Added.  Disregard all the above as I just discovered my own rookie mistake in that the 94.10 is the Quarterly high rather than today’s high.  Another lesson learned. Time for bed. 

 

If You Bought EGO in 2003 and held

You now have had a round trip

Welcome Home

UVXY

No chart, but UVXY is starting to show life on my weeklies with this tiny pop and perhaps even more so due simply to elapsed time.
First indications since end of July that its flatlining and embedded character may be nearing an end.
Daily chart read suggests it gets pounded down again over the course of this week however.
But the door is starting to crack open a bit for end of week or early next.
Still suspecting “sell the news” on Fed nomination to end wave 3 up within the move from Feb 2016.

who’s leading who

euro and gold  buddies above

 

euro  usd crossroads

 

Nikkei  and us $  with Nikkei rsi room to run up

 

 

who catches up with who?  Looks like don’t fight the Abenomics so dollar up in my thesis.

 

Gold in Aus$

Testing the neckline soon on this four hour chart. Target if broken is 1560 before a likely bounce

This chart will help show when the producers are likely to buy back. Remember  they are short-when they cover we get a rally. Chart on the right is from an earlier post