Pass the Bong

ABX

Double Bottom or Half Way Rectangle ?

Staying Flat here until resolution

UUP looking suspect, HS top? What do you think?

Canadian Pot ETF

New ATH Close

some divergence indicators

svapo = short term volume and price oscillator picks it out when cycle rotates back inside parameters. Bottom wave trend histo picks up some as well

added xbi for study, svapo rules over rsi

 

George Bayer

George Bayer, a Gann contemporary had this illustration in his book “Egg of Columbus”………

What do you guys think?

OIL

Copper

This chart of copper futures shows we are nearing a decision point on inflation. The 61.8% retracement of the last leg hits the monthly close trend line (log) at around 2.47. If there is support here then the count shown is what I would expect with  a gradual decline in the $US over the next 5 years. Next swing high would be $4.50 for a triple top, then a decline to $2 to complete the flat, then $8. After black C we get the deflationary collapse (post war?)

Gold Possibilities

A couple things I’ve been entertaining. I have no idea where it lands…I have better luck on the when than the where. With that said there’s still a lot of time in the match for bad things to happen. First chart has a clean parallel channel from 2016. Second scenario would be we still have an impulsive move down that takes Gold to 890 and silver to 9-11 area. I don’t know the likelihood of either scenario as both seem feasible to me.

I currently view these times as important…which are related to the miners more so than gold which has a different count

Oct 2nd,Oct 22nd or 31st,Nov 30th-Dec 3rd weekend split,Dec 17th,Jan 15th, Feb 27th(Need more time to pass to figure out February)

I am most interested in Oct 2nd,last week of Oct and November 30th in the medium terms and Sept 21st and September 25th in the near term.

NOVO Resources in Acquisition Mode

It’s a little quiet here. Good time for something positive to read:

http://www.novoresources.com/news-media/news/display/index.php?content_id=319