the metals
fresh new lows for GDXJ with a 92 handle
still don’t think we’ve bottomed.
Contest continues. Who else is still at the table (having not lost)?
“One more push down, and the bigger turn could begin.”
https://x.com/ewstrategy/status/2077777534914122073
That said, my main tools on the HTF charts lead me to suspect we topped in Jan, and we are now in a VERY large correction.
And the “bigger turn” could well be a counter trend B wave at high degree. Not a move to new highs.
I CAN’T PLAY . BECAUSE I LOST ….SO THIS DOESN’T COUNT…BUT…THE BOTTOMZ INN
Bottomz Inn has no vacancy and is engulfed in flames.
LOL.
On a less witty note, my mo. macd for GDXJ is down 250 this month. Versus -300 in June.
So the drop is slowing a bit.
But bottoms tend to come as that delta nears zero.
MACD is scale dependent, so there’s no hard rule as to what that means, numerically.
But I also have a CCI measure (not the std one) that usually finds -100 before a bottom. Its not there yet.
RSI9 is at 48, supporting the break down view and hinting that a larger ABC that eventually sees <35 is afoot.
literally even
https://x.com/SuppressedNws1/status/2077812813456658521
Loaded up on (slightly) impaired ASE’s at $1.25 over spot today. My bell for a GSR recovery from 42 low in January up to 72 has been rung (+30 oz silver per 1 oz gold playing the GSR trading game). If the GSR goes higher, will be selling some physical Gold to buy Silver bullion.
RE Sentiment: Jordan Byrn, Solaway, Hunt and other (smart long term bullish types) reset their near term LOW expectation marks just a bit lower (this week) – a clue that the Bottom may be INN here !
https://www.youtube.com/watch?v=PELnAZ4yeig
I figure tomorrow should see either a 3-5% UP or DOWN move going into the weekend.
IMO Today is a good day!
Solaway is the MAN.