Loading ...Added some to Sir Schism’s Nice Chart
Thank you for the great chart Sir Schism.
Fractals….
Editing to add:
Shoulder. Head. Shoulder. Fail and BOOM. can’t stop thinking of that as I look at this chart.
Gold will have its day. Not time yet.
Now? Dollar is about to absolutely rock. It’s going to be amazing for a while. Also, the Stock market will rock as well for another 5 years….
We’re in boring consolidation time now. I’d still be surprised if we don’t see one more downthrust and have the NASDAQ hit its 200dma but we’re still in great low risk buy time now if you’re going to go long. Don’t miss out. Will be a fun ride. Don’t use too much leverage. 3x’ers kill.
And where have you been?:)
I get bored of charting during consolidations…
Not much to say except: sideways for a while till next move.
Good point, Richard.
Who’s Richard? Lol. Gallo?
Sorry, Chuck. Had too much coffee today. 🙂
Thanks for posting Chuck. Agree on the stock stuff, fo sho.
Hey Chuck that 100 Year Gold Chart…LOG form….what the hell is the number where we hit the bottom line ?
ever seen such a cluster
🙂
Looks to me like 850 in 2021. 🙂
Good number, eh? Eh? Am I speaking your language? 🙂
Sir Schism will have to zoom in to be more exact.
Thanks again Chuck. I guessed at the possibility this could go into May just when the ‘sell in May’ crowd would argue we would have much more downside until fall. I still think/hope for a breach of the 200 day at least if not a 4-5 day blood bath move having the technical look and gut feel a bear market has started. But, I also notice the semis may be forming a bottom here over these last several days and may resist any further selling. Something to watch. And I can’t stop thinking about this prediction of 160 on the USD. Sounds outrageous. Yet, we know the S&P has a long history of moving both higher and lower with a higher USD. But, for the PMs the history has primarily with few exceptions been dependent on a lower USD. If, Chuck’s outlandish prediction comes true and by the way I’ve not seen a single person endorsing such a prediction except maybe tacitly Rambus, gold will get decimated. In my heart of hearts, I’d love to see a move down to the 100 week around 2400-50 for a real quick wash out and then a 2-3 year parabolic move to 100k on the DOW replicating the 1998-2000 scenario. That just so looks so off the table that it just may have a shot (like Chuck’s 160 in the USD:))
Hahaha. 🙂
Still thinking this is the juice that’s needed for the next and final epic leg down especially if we reverse here or Monday. Could you imagine a move down 1000 plus points in a week or so just when we all think the coast is clear. THAT would reverse sentiment from complacent to down right despair especially should we breach the 200 day or even more (Oh no, not again!). The End would be Nigh! Let’s hope so, so we can rifle out of this mess to new highs.