Loading ...Tuesday Ends The Dollar Bounce
After a brutal four month decline, the US dollar has been rallying for the entire month of Feb. The chart shows that coinciding with month end on Tuesday, the dollar rally should be coming to an end. While it doesn’t have to go all the way up to the 200 day mvg. avg. just above 106, it is quite likely that a short squeeze to that point would bring the maximum effect, ie sharp drops for gold and silver. Since that has been the whole point of this dollar rally supported by the FED hawkishness and the administration’s totally ficticious numbers on jobs, UE claims, inflation gauges and GDP. We have made it through this counter trend rally and can now look forward to March and beyond as the dollar rolls over again and gold and silver resume their climb since last fall’s bottom.
I think the metals rally is done for now watch 1800 and 21 once we hold under those levels we should be nearing some kind of bottom. Got a couple of months at least before we bottom. April-June. I would like to see Gold trade under $1600 that should give enough bulls pause to think they are wrong. 30 months off the tops now some bull market huh?
Your $1800 and $21 levels to break below, fit in with my thesis about the dollar topping out by Tuesday. As far as gold getting anywhere near $1600, I don’t see it. With the world’s central banks buying everything they can get their hands on I don’t see gold getting below it’s lows from last fall.
Though you are often wrong, I honestly appreciate the sliver of hope you provide when I look at this wretched gold market that has robbed me for many years. As gullible as I’ve been, as disappointing as it is, I still get suckered into holding on to profits long enough to see them disappear year after year. It’s like that Bill Murray movie Ground Hog Day for gold bugs, but it has no happy ending.
I hear you. You are not alone.
Not alone at all
End of $ bounce heh. Even though 105-106 is some sort of RES … USD will GO much Higher IMO.
My prediction is that you will hold on to your ‘assumptions’ (as I do mine) which will ill-k both your portfolio, trustworthiness & self-esteem. IMO.
Your opinion is worthless. I predicted the high for the dollar back at the time it was topping. Come back with your opinion when the dollar takes out it’s high from October. Until that happens my trustworthiness and self esteem will be just fine. I love you trolls and clowns who have to give us your personal opinions of people. I have never had a problem with anyone challenging my technical calls and posts. Stop with the personal bullshit where you have no clue what you are talking about.
Such kind words. With all of your royal wisdom you should be Very wealthy. Why are you here with your time and not relaxing on some tropical beach enjoying life?
What is the point of your comment? What are you referring to with “kind words”? Like I stated, I have no problem with challenges to my T/A or calls. When jerks make personal attacks and comments, I respond. Why are you chiming in when you have added nothing of value to the post. I challenge anyone to go back over my almost three years here, and review all of my posts and comments to others posts. I may have disagreed with someone’s, T/A or opinion but I am always respectful and don’t attack anyone personally. The few instances where I have called out trolls and said they were clowns or clueless was always AFTER being attacked personally and I will respond accordingly if it happens in the future.
This site is turning into garbage when one is allowed to call others jerk and morons. Everyday you chime in on how great you are and it is tiring. Last post here, respect has been lost on the site and it will obviously continue. Good luck to the rest.
Typical immature child who makes a stupid comment, gets called out for it and takes his ball and goes home. (Just like a couple of others in the past) Good riddens, you contributed nothing of value and won’t be missed.
Sir Nightingale : With all due respect… Chartsmaster is stating his opinion…which is just as valid as yours and mine
He has been right on often . You have been right of late too . But you won’t be “Right” every time …as you just admitted in a comment you are losing money in this sector like most of us !
I have to Commend CM on staying the course in spite of random attacks …not on his calls but on his person.
Differing opinions on the PM Market is what makes a market..IF everyone agreed there is NO market
Here, here. Chartmaster’s retorts may seem a bit heavy handed, but who cares? I enjoy the spicy response. I’m not going to respond with the like because that is not my style. But, it’s the passionate responses that make life interesting. I love it!
Sir Highroller …please reconsider…YES YOU WOULD BE MISSED …YOU DO CONTRIBUTE A LOT..AND YOU ARE MY BUD !!
Nightingale and Chartsmaster also contribute a lot…and all 4 of us are on the same page with 95% of the content here
This has gotten out of hand here
All of you are valued contributors …All of us are under stress and pressure…all of us are trying to figure out how to succeed in the PM markets…and all of us are NOT succeeding because it’s the toughest market to understand.
Please, everybody stay. The only way a bit of back and forth is going to effect you in a bad way is if you allow it. We are too old to let words hurt us.
No worry. I stay. Apparently my words are taken wrongly I guess. I only respond to somebody who I have seen mostly on the wrong side stating arguments eg. opinions but such without any back-up like charted charts and so on.
But I do not even care that much if somebody is wrong (can happen to each champ) but constantly making some sort of statements without ANY underlying essay, chart, proof or any while THIS SITE is (or was) all bout TA – at least that is still the subtitle of this site.
Last CM, talks about Technical calls . .. FGC: I ask you which TA does CM contribute?
Go back and read my posts I give clear to the point reasons for my calls both technically and fundamentally when they apply. Unlike some of your charts that are so complicated and always have disclaimers like some others who post here. This call or else that call or maybe something else entirely. I may not get them all correct but at least you know what I am saying and I don’t give myself six ways to sunday to be right no matter which way the market goes. Stick to a specific call. If the dollar takes out the highs from October I will come back and admit you called it right and say I was wrong. When it breaks down and takes out it’s recent lows, when do you admit you were wrong? Or are you just going to say at some future date it is going to soar?
I like ALL charts and ALL commentary except for when it gets personal..BUT we are all human and disagreements sometimes get personal
I agree with NG on his point. Would like to see Chart analysis accompany Chart commentary .
Some folks like simple charts . some like more Complex and some dont like them at all
Onward Pilgrims
Rodney King.