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YEN 2HR: Starting to look bullish at close. Possible Bullish Wolf Wave completing…. Should be bullish for Gold…
Dollar 2HR: Still think we’re in the ALT B Scenario and now heading down. Only RSI(5) and FastSTO gives me second thoughts, however, SlowSTO and ULT are moving down. Need to see more bars!!!
GDX Daily: I believe we finished the (iv) at 14.38 and are heading down to finish the (v) of 3. (i)=(v) target is at 11.36 but right now I don’t think we’ll make it that far. Tomorrow will give a better idea… Note that we want to see divergence now form with RSI(5), maybe one more small peak down then up into the Big 4… I thought this morning that we might just double bottom and then head up but no cigar!!! I guess descending triangles do go in the direction they are suppose to sometimes!!!
NUGT 2HR: Still hanging out in the “NO TRADE ZONE” — black circle… also still expecting lower on RSI(5). Note that it is trading within the dotted line range mark on the RSI(5)… I really like to see it below the dotted line to “know” that the low is in… CCI(10) needs to turn up first and cross it’s trigger line…
Note the WW for the GLD:SPY 2HR chart posted this morning is still valid….