Goldtent TA Paradise

Constructive day…5 minute chart

1. Kestrel says:

   February 6, 2026 - 2:00 pm at 2:00 pm

   I encourage all tenters to go to 321gold and read Adam Hamilton’s latest essay. This correction is not over.

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2. Marcusjames says:

   February 6, 2026 - 2:47 pm at 2:47 pm

   What he said: “So whenever I warn about major toppings before bulls peak, like on gold’s China takeover just a couple weeks ago, my inbox fills with fundamental reasons why this time it’s different. Incidentally those are the most-dangerous words in market history, leading to catastrophic losses and ruin for countless traders who chased manias to buy in super-high.” He’s right, of course.

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3. silverboom says:

   February 6, 2026 - 4:22 pm at 4:22 pm

   Rambus also indicates this is long from over. Got some lengthy sideways crap to go through before a bull resumes. IF it resumes…

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   • silverboom says:

     February 6, 2026 - 4:22 pm at 4:22 pm

     So far, sterling earnings/profits are not driving stock prices UP…not a good sign.

     Is that bearish enough for ya?

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4. silverboom says:

   February 6, 2026 - 4:33 pm at 4:33 pm

   From Hamilton:

   Gold doesn’t need to collapse so far after today’s much-milder popular speculative mania, but the entire drawdown might not happen in a single swing. Gold could fall 20%+ entering a bear, bounce back 10%+ formally ending it, then fall another 20%+ to a deeper low than the initial bear one. Today’s drawdown is far too young to start gaming more-complex multi-stage secular-bear scenarios, but another one is possible.

   While drawdowns following monster gold bulls are totally fueled by necessary rebalancings of both extreme technicals and sentiment, traders use fundamental arguments to deny they are happening. This is also true into popular-speculative-mania toppings like last week. The great dangers of exceedingly-stretched technicals and wildly-excessive greedy herd sentiment are ignored as prices soar, based on fundamentals.

   So whenever I warn about major toppings before bulls peak, like on gold’s China takeover just a couple weeks ago, my inbox fills with fundamental reasons why this time it’s different. Incidentally those are the most-dangerous words in market history, leading to catastrophic losses and ruin for countless traders who chased manias to buy in super-high. Bullish traders drinking the mania Kool-Aid cited three key arguments.

   Just before gold peaked, they claimed it would keep powering higher because of ongoing strong demand from world central banks, China, and India. Overnight into last Thursday the 29th when gold crested, the World Gold Council released its latest quarterly Gold Demand Trends report. These fantastic reads have long offered the best-available data on global gold supply and demand, revealing underlying fundamentals.

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5. silverboom says:

   February 6, 2026 - 4:41 pm at 4:41 pm

   Hamilton summary:

   The bottom line is gold is in for a serious drawdown after one of its most-extreme cyclical bulls ever.  It was dollar gold’s largest bull on record by far, skyrocketing to gold’s most-overbought levels since just after January 1980’s notorious bubble.  That reckoning is already underway, kicking off with gold’s third-worst daily plummeting ever.  But history argues these rebalancing selloffs require more depth and time.
   Excluding this latest monster record bull, the ten-biggest and ten-most-overbought cyclical-bull toppings since 1971 averaged subsequent big-and-fast drawdowns around 21% in just over a couple months.  And 25% wouldn’t be surprising at all given gold’s first popular speculative mania since January 1980.  That’s troubling enough for gold, but silver will likely double its losses while major gold stocks double to triple them.

   Buckle up…

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