Loading ...GDXJ – Daily
Fully – Nice work on your GDXJ chart!
Agree – $38 seems to be in the cards, and that’s if the H&S “neckline” (or lower rail of your flag pattern) holds as support. Rambus was tracking a 5-pt diamond pattern which broke to the downside today. Below is just another way of looking at it – it’s all the same as far as the downside breakout is concerned:
From a longer term perspective, there is some symmetry pointing to the $37-38 price area as well, as right-shoulder support of a bullish IHS pattern.
We’ve had a pretty good year – no one should be complaining except maybe the guy who went short with DUST back in Apr/May – can’t remember his name…
Time to be patient now and see how it all plays out. I’ve got some dry powder handy in any event! 🙂
Beautiful,insightful Charts – thanks for sharing!
TY “Double P”!
Nice RTV…A Parabola…Who knew ?
Or not…?!
Toby Conner says to “buy buy buy!” with stochastics and 5-wk RSI presently in oversold condition on the $HUI weekly. Have to give him credit – he was dead right in January calling the bottom…
Yes – we broke below support of Rambus’ diamond pattern but then this market is a dandy for dealing false BO’s, and your trendline is situated perfectly to answer for support
Also – I can’t align with Gabe and Avi’s EW count for Silver – I don’t think we completed a primary wave 1 (P1) and are now in a wave 2 correction, but rather a complex “flat” correction, which is typical of wave 4 action. If my count is correct, then it is possible we completed the last pullback today, and Silver should be on its way now to take out this year’s high…I’ll post more on that later…
Don’t give “Toby” much credit though as he quickly sold that buy position and missed most of the upside since January.
Gary has significant “gaps” in his knowledge on a macro level. Read his work for entertainment purposes only. Remember he had half of his personal worth in Silver LEAPS most of the way down in the last bear. That’s insane.