Dr Copper

What is Dr Copper smelling in the future? Electric vehicles driving a metals boom, and/or something else?

Time will tell. But whatever happens, Dr Copper is aiming for the 2011 highs again around $4 minimum.

$3 level should get taken out in next few weeks. Above $3.40 is when it really gets cooking.

Dr Copper is pivotal part of the global macro theme that is developing in the metals.

One of Fully’s Charts revisited

The good news: Sar buy signal

Bad news: Bearish outside reversal day

Patience is Key

Many are frustrated with the lack of action in the metals sector. It’s not that the price is plummeting, but the movements just aren’t great enough to make the traders any real money. But if you are in this game for the long haul you have to realize that these consolidation periods are necessary for any big gains to be made.

One thing I thought was interesting in these charts is that all of these assets poked through, but didn’t break out above, their respective trading ranges this week. Maybe next week.

Global Macro Trends

Its important to know one is on the right side of the market, sitting long in over 2 dozen rocks, from a macro perspective. One has to strip away the noise and opinions, and be completely objective as to what is happening in the markets at a global macro level, that is looking at the forest, before examining the grass.

The $USD could get its head handed to it on a platter over the next 6 to 8 months, with at least another 10% move lower on the cards. This may set off a currency crisis in the first half of next year, as the USA discovers it is getting harder to externally fund the cost of its empire, whilst in parallel, it implodes from within due to a dysfunctional and broke government. The big risk globally is war, as the USA government tries to deflect from its internal dysfunction.

We have no idea how this all plays out, and we have no say in the matter. Its outside our control. All we can do as traders and investors, is to ensure we are on the right side of the market, at the macro level, before committing funds at the micro level.

BUT, if it progresses to a nuclear confrontation … all bets are off. Just turn off the lights.

Global Macro: https://spockg.com/

Spock 🙂

Rambus Interview – An Observation

Fully posted a link earlier. I read it too fast and thought it was posted recently, but realised my mistake when I looked at his gold chart.It was published around about the time gold hit it’s $1050 low. In it he says…

‘Since gold has been in a bear market since 2011, the latest chart pattern that has formed is the two-plus years blue falling wedge, which I consider to be a halfway pattern to the downside when all is said and done. Just look at the left side of the chart during the bull market years when each consolidation pattern broke out to the upside. Now look at how our current bear market is unfolding opposite to the bull market. This is how markets work.

On a bullish note, gold could be forming the last consolidation pattern within this bear market. If the blue falling wedge breaks out to the downside, which I expect it will, this next impulse move down may very well complete the bear market. As you can see, I’ve labeled this four-year bear market as a possible bullish expanding falling wedge. You can compare this possible bullish expanding falling wedge to the same pattern that formed the low for gold during the 2008 crash — it’s the same pattern, just on a longer time-frame. Even though I’m bearish for the short-to-intermediate term, I can still see the bull market continuing when the top black rail of the potential bullish falling wedge gets broken to the upside.

He included these 2 charts…

As we now know, he was right to an extent. The dollar did breakout upwards, but (due to the long established, and predictable dollar cycle), it has come all the way back to where it started. He wasn’t right about gold though. The falling wedge didn’t break down, but up. It hasn’t proven to be a halfway pattern to the downside. Gold has risen over $200. I’m not entirely sure why gold didn’t fall a little further or at least stay around the $1000 mark for the rest of 2016. Like Rambus, I would’ve expected it to. The gold cycle would’ve certainly allowed it. At the time, I remember reading an article by ‘Zeal’ on the Market Oracle website, which demonstrated that whatever gold was going to do, the PM mining shares were at an ‘absurd low’ that just could not be maintained, and that the upside over coming years is huge. I did my own research and was convinced. I put all my savings into a a portfolio containing most of the HUI and GDX companies. HUI was about 120 at the time. It feels now, to me, that gold began it’s upward charge too early, and the weak action recently has been the result. You need all of the wind behind you. It’s like weather forecasting – to get a CAT5 Hurricane, rather than a tropical depression, you need all the causing factors to be in place, not just a few of them. This is EXACTLY the same. However, if I’m right, the long term cycles that I’ve been banging on about, are about to reassert themselves hastening the dollars continued fall, and bringing about golds renewed bull. Here are the gold and dollar charts, so you can see what happened after the Rambus post.

At the same time, we have geo-political tensions rising, we have a US president in ‘trouble’, we have a debt ceiling debarcle approaching, the stock market is euphoric, the national debt is off the scale and rising EXPONENTIALLY, the dollar cycle is in its declining phase and the gold cycle is in it’s rising phase.

A CAT5 hurricane is in danger of developing.

 

 

Gold is Still a Dud

Hi folks. Long time stalker of this site for the charts and to gauge sentiment (which can be very helpful in my personal trading). For example, just look back at the postings on gold around July 10. Many had thrown in the towel and were very deflated. Then what happened to gold? Now on Friday, we break $1300, everyone is excited again. Now tell me what is going to happen? I have seen this time and time and time again on the site since Sep 6 2011 at the gold high of $1920 per ounce. Some people just can’t help themselves. But you can use it to your good.

Just pull up any monthly chart on gold and tell me if that looks like a winner to the upside (especially a monthly chart)? We have Successive lower highs and a drug out trading range since 2013! The breakout of the 6 year down trend-line may be significant but it may not be as well. And seasonal trading patterns, dow/gold ratios, cot positioning, etc. and everything else you think that matters in your trading may or may not matter as well. The bias on this forum is Clearly gold bullish and that is very problematic as a trader. Also, the people you look to for trading advice and chartology Do Not know the future either. You can put a likelihood on a probable outcome but there is no guarantee. This business (divining the future) makes very high iq individuals look like morons over and over. Try to have an open mind. In trading, the impossible Always happens. That is your only guarantee.

Further, we have had a similar “golden triangle” setup in the pms in 2013 and guess which way it broke? Yep, Down. But that was not the Final washout. That is still to come imo. You will know it when you see it. This may sound absurd but I am looking at the $700s with a minimum 1980 high retest ($875). Only Time will tell.

Targeting for a Big drop in Gold later this year. Stay keen on 31 October. It is very Rare that the big move comes at the apex of such formations (spring 18). We may very well see stocks and gold drop together with the USD going the other way.

Also, can Copper break $3? She can be the Key. We will see what happens. Good luck.
Is Copper the New Gold?

Some Interesting Charts

Apple : Fib resistance could be the Waterloo

IBM : Plungers Favorite Short

BitCoin : Surfs New Beach ! BIG Wave

CDE: Nervous breakdown ?

Dollar …Fully’s Pet Chart : Strikes fear in the hearts of Good Goldophiles

FORK YOU AND THE ASS YOU RODE IN ON fULLY

Dow : !!!!!! You’re kidding right ?


Dow:Gold

AG ( Company Specific we hope)

XAU:GOLD: Bottoming’s a Bitch

The Golden Triangle : Breakout !

And Finally

The Most Hated Chart in the Gold Universe

More to Come Maybe

Black Sheep

Someday this will be the Gold Chart again ….but till then…as Rambus likes to say….There is Always a Bull market Somewhere

Still time to Vote at the Poll

All welcome…..Politics Warning ! For mature Audiences Only

Rambus Interview

This is an interview done by Catherine Austin Fits a couple years ago.

Catherine and Rambus come from two different worlds but their common thread is their quest to profit from the markets

Catherine’s website The Solari Report is an amazing source of leading edge information and entertainment.

Soon she will have a new state of the art site .

Catherine and Dave (Rambus) have become good friends and the mutual respect is heart warming.

Enjoy

http://solari.com/Library/2015/Q2/rambus.html#chartology