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Friday August 11th

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  • Friday August 11th

    Equities lost their teeth in yesterday's beating, can Janet the old bag help it like the old days of Bernanke?
    Don't follow or make any trades based on any chart, guess, study, joke or prediction I make.
    Seriously. Don't follow me. Just don't. I only guess at things.
    Also.. I'm not the real Mr Miyagi; he's been dead since 2005.

  • #2
    Dollar is still struggling between 5d ma and 20d ma. Today's US CPI number might be the catalyst.
    Stock market is heading to ICL, which would be a driving force of PMs.

    Comment


    • #3
      The Bank of Japan will be a major share holder of just about every listed Japanese company.

      https://twitter.com/jsblokland/statu...33887869362176

      Comment


      • #4
        Reversal Levels:

        http://www.reversallevels.com/2017/0...or-aug-11.html

        Comment


        • #5
          Australia:

          https://www.armstrongeconomics.com/w...itarian-state/

          Comment


          • #6

            Peter Brandt‏ @PeterLBrandt 7m7 minutes ago

            The most bullish classical chart scenario for Gold is a 4-year rounding or complex H&S bottom -- right shoulder requires work

            Comment


            • #7
              ItzStockChartz Retweeted
              AAII SentimentSurvey‏ @AAIISentiment Aug 10

              AAII Sentiment Survey indicators very close to each other, but bullish still below avg & neutral still above avg. http://www.aaii.com/sentimentsurvey

              Comment


              • #8
                Walter Murphy‏ @waltergmurphy 16h16 hours ago

                5 waves down #SPX #DJIA

                Comment


                • #9
                  good morning

                  Comment


                  • #10
                    bought back some Russell this morning, tight stop.....

                    Comment


                    • #11
                      I see Gold going back to 1260ish by Monday if no one plays Star Wars over the weekend

                      Comment


                      • #12
                        Originally posted by Sophia View Post
                        bought back some Russell this morning, tight stop.....
                        I show the SPX is just backtesting its drop below the 50ma and the lower side of my Price Channel.

                        https://surfcity.co/2017/08/11/spx-backtesting/
                        "Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria." Sir John Templeton

                        Comment


                        • #13
                          Looks like the CPI event made EUR/USD back test the breakout of the July's up trend line.

                          Comment


                          • #14
                            Originally posted by Sophia View Post
                            good morning
                            Good morning Sophia and everybody.

                            Comment


                            • #15
                              Originally posted by Sophia View Post
                              I see Gold going back to 1260ish by Monday if no one plays Star Wars over the weekend
                              I think the odds of Star Wars or any new wars over the weekend are very low, and low going forward with North Korea specifically. But I would not be surprised to see gold strong into the close today and weak when it opens Sunday, due to a warless weekend.

                              Comment


                              • #16
                                Originally posted by Surf City View Post

                                I show the SPX is just backtesting its drop below the 50ma and the lower side of my Price Channel.

                                https://surfcity.co/2017/08/11/spx-backtesting/
                                thanks Surf... so more downside?

                                Comment


                                • #17
                                  Originally posted by Jim View Post

                                  Good morning Sophia and everybody.
                                  afternoon dear Jim!

                                  Comment


                                  • #18
                                    Originally posted by EnglishBulldog View Post

                                    I think the odds of Star Wars or any new wars over the weekend are very low, and low going forward with North Korea specifically. But I would not be surprised to see gold strong into the close today and weak when it opens Sunday, due to a warless weekend.
                                    same idea English... but what if everyone thinks the same....?

                                    Comment


                                    • #19
                                      Gold Breaking Out?

                                      As we speak, my first chart shows that Gold is testing/breaking a 6 year resistance line that goes all the way back to 2011. This is very significant I think and most have no clue. My second chart is a 21 year weekly that clearly shows that Golds Price uptrend channel has never broken down and may be ready to break up.

                                      I have mentioned many times before that my studies clearly show that Price moves in parallel price channels both short and long term. Why? No idea but it just does.

                                      Click image for larger version  Name:	Gold 7 yr 2017-08-10 21.03.37.jpg Views:	1 Size:	155.8 KB ID:	379751
                                      Click image for larger version

Name:	Gold 20 yr 2017-08-10 21.12.02.jpg
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                                      "Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria." Sir John Templeton

                                      Comment


                                      • #20
                                        On my previous post, note that I am Bullish on Gold here but not the Miners as my work shows that their Intermediate Cycles have diverged. The Miners may well see a lower low (DCL/TCL) into September when I expect Gold to make a higher low.
                                        "Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria." Sir John Templeton

                                        Comment


                                        • #21
                                          Originally posted by Sophia View Post

                                          thanks Surf... so more downside?
                                          We may bounce here as it is getting late in the SPX's Daily or Trading Cycle (Day 30) but longer term, I see the next Intermediate Cycle Low for the Stock Market sometime this Fall (Sept/Oct perhaps).
                                          "Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria." Sir John Templeton

                                          Comment


                                          • #22
                                            Originally posted by Surf City View Post
                                            On my previous post, note that I am Bullish on Gold here but not the Miners as my work shows that their Intermediate Cycles have diverged. The Miners may well see a lower low (DCL/TCL) into September when I expect Gold to make a higher low.
                                            thanks Surf

                                            Comment


                                            • #23
                                              Originally posted by Surf City View Post

                                              We may bounce here as it is getting late in the SPX's Daily or Trading Cycle (Day 30) but longer term, I see the next Intermediate Cycle Low for the Stock Market sometime this Fall (Sept/Oct perhaps).
                                              thanks English

                                              Comment


                                              • #24
                                                Originally posted by Surf City View Post
                                                Gold Breaking Out?

                                                As we speak, my first chart shows that Gold is testing/breaking a 6 year resistance line that goes all the way back to 2011. This is very significant I think and most have no clue. My second chart is a 21 year weekly that clearly shows that Golds Price uptrend channel has never broken down and may be ready to break up.

                                                I have mentioned many times before that my studies clearly show that Price moves in parallel price channels both short and long term. Why? No idea but it just does.

                                                Click image for larger version Name:	Gold 7 yr 2017-08-10 21.03.37.jpg Views:	1 Size:	155.8 KB ID:	379751
                                                Click image for larger version

Name:	Gold 20 yr 2017-08-10 21.12.02.jpg
Views:	1
Size:	166.2 KB
ID:	379752
                                                Hi surf,
                                                what do you think about today's move in dollar? Thanks!


                                                Comment


                                                • #25
                                                  Originally posted by MoonspiriT View Post

                                                  Hi surf,
                                                  what do you think about today's move in dollar? Thanks!

                                                  Until the USD makes a lower low and Fails this could still be a move out of an ICL but the price action thus far is very weak.
                                                  "Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria." Sir John Templeton

                                                  Comment


                                                  • #26
                                                    NYMO was holding fine & dandy at -67 almost all day until this punchdown, now at -71. Maybe traders are taking profits ahead of the weekend... or something...
                                                    Don't follow or make any trades based on any chart, guess, study, joke or prediction I make.
                                                    Seriously. Don't follow me. Just don't. I only guess at things.
                                                    Also.. I'm not the real Mr Miyagi; he's been dead since 2005.

                                                    Comment


                                                    • #27

                                                      bought pocket money of VIX 16 puts for next week

                                                      Comment


                                                      • #28
                                                        Originally posted by MrMiyagi View Post
                                                        NYMO was holding fine & dandy at -67 almost all day until this punchdown, now at -71. Maybe traders are taking profits ahead of the weekend... or something...
                                                        they are getting ready for Armaggeddon weekend

                                                        Comment


                                                        • #29
                                                          We already have targets for 9000$ on Gold!! Just buy and hold, people...... and go to vacation (feels a "deja vu").

                                                          Comment


                                                          • #30
                                                            Originally posted by Neo View Post
                                                            We already have targets for 9000$ on Gold!! Just buy and hold, people...... and go to vacation (feels a "deja vu").
                                                            exactement.... j'adore!

                                                            Comment


                                                            • #31
                                                              Originally posted by Sophia View Post

                                                              same idea English... but what if everyone thinks the same....?
                                                              Good question. It's holding up as we approach the close...

                                                              Comment


                                                              • #32
                                                                NYMO TYPICALLY (please don't hole it against me!).... typically goes from -80s to near Zero before deciding what to do. Typically...

                                                                Don't follow or make any trades based on any chart, guess, study, joke or prediction I make.
                                                                Seriously. Don't follow me. Just don't. I only guess at things.
                                                                Also.. I'm not the real Mr Miyagi; he's been dead since 2005.

                                                                Comment


                                                                • #33
                                                                  Originally posted by MrMiyagi View Post
                                                                  NYMO TYPICALLY (please don't hole it against me!).... typically goes from -80s to near Zero before deciding what to do. Typically...

                                                                  go NYMO, Go!

                                                                  Have a great weekend everyone!
                                                                  sending you a PM Mr M

                                                                  Comment


                                                                  • #34
                                                                    Originally posted by Sophia View Post
                                                                    I see Gold going back to 1260ish by Monday if no one plays Star Wars over the weekend
                                                                    Happy to say the weekly slow stoch. is saying much high prices next week !

                                                                    http://stockcharts.com/h-sc/ui?s=%24...d=p84355925359

                                                                    Comment

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