Loading ...NEM
NEM is often a leader in the miners and this chart has served me well this year. I was ridiculed in May this year for being full-on short at resistance as 99% of traders were certain an inverse H&S pattern was about to bust out. They forgot we were in a multi-year downtrend. We may find ourselves in the green circles at similar places……….
Also, GDX appears to have hit the downtrend channel today and so far we have a wicked candle forming. Only the close matters so let’s see how this shapes up.
added: My favorite JDST chart….the weekly. At yesterday’s close I was almost ready to scrap the chart but the week doesn’t close until Fri right? 😉 Just needs to close above ~$8.50 to remain in play.
added: possible GDX fractal…..
Mark
does the fact that the Stocks are bottoming come into your equation
stoastics
Price action at support/resistance levels trumps STO’s….just look at April 2013 on the chart.
I chickened out. Sold my DUST & JDST for about $445 profit. That rise in gold last night really surprised me so…
Still holding my Dust which I bought yesterday.
Mark, this NEM chart is fantastic and I am hoping it plays out like it did before. Still a couple of hours or so to the close!!
sure are a lot of gaps in many of the leaders yet to be filled. jdst 5m chart seems coiled and about to break out
Grin – if I understand what you’re saying, you’re looking for a pullback in the miners to fill gaps? I of course agree but wasn’t sure if we were on the same page….which would be novel 😉 Are you watching this as well? – http://schrts.co/z4UMas
as a rule I always expect a gap fill most definitely. Just a matter of when. Up 8% for the day and in cash, likely call it quits for the week, up 18% on jdst and jnug. in and out.
WE are on the same page for sure, always are kinda lol…..
ihs tempting
http://schrts.co/jJNXB5
http://stockcharts.com/h-sc/ui?s=NUGT&p=60&yr=0&mn=1&dy=15&id=p42407778469&listNum=1&a=385256974
Watching trend line then gap reaction…
Grin – I’ve taken a chart of yours and modified it to show a trading plan I’m looking at for playing the pullback and subsequent bounce. Thought I’d share.
http://schrts.co/nRP3Ty
yes, am looking at the same neg div, the ihs in jdst broke out just now but I might just stay out and be happy with the weeks gains(twice what jnug went up)
I think the dow :gold bears watching, this is suggesting your arrows may be only half right….G,,,
Dow off 400 pts now. Amazing!
I swear these gaps are made to kill any upward momentum. Look at xoi for gaps.
No contest, mission accomplished