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Monday June 11th

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  • Monday June 11th

    Futures slightly lower after G7 weekend. NYMO could use a pullback.
    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
    Stocks:

    http://allstarcharts.com/consumer-di...ocks-breaking/

    Comment


    • #3
      Litecoin…. wacked... we should be close to a bottom

      Comment


      • #4
        Futia:

        http://carlfutia.blogspot.com/

        Comment


        • #5
          I think SLV is pretty much doomed at or just above the 100 WMA. Now, it's quite possible that we get a big spike above that MA, but I think it will be ultimately reversed quickly. Look for the weekly stochastics to get overbought before such a reversal. Once we top, I think it will be lower into the fall. (note the ridiculously narrow bollinger bands--the narrowest SLV's have been in its history).
          Click image for larger version  Name:	Screenshot-2018-6-11 SLV - iShares Silver Trust.png Views:	1 Size:	67.7 KB ID:	384727

          Last edited by Spanky; 06-11-2018, 10:09 AM.

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          • #6
            Originally posted by Spanky View Post
            I think SLV is pretty much doomed at or just above the 100 WMA.... Once we top, I think it will be lower into the fall. (note the ridiculously narrow bollinger bands--the narrowest SLV's have been in its history).
            What do you think the probability is of a break-out to the upside instead? We're at or near an ICL, so that is a possible scenario.

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            • #7
              Originally posted by Dialogue View Post

              What do you think the probability is of a break-out to the upside instead? We're at or near an ICL, so that is a possible scenario.
              It's possible we get a right translated IC from the May 21st low in gold. I just think that the next ICL won't be too far from where we are today. So I'm not calling for a crash, just a muted IC until the fall. That's when the real uptrend should begin. And personally, I think it will be a very slow grind upwards for the next few years before it really gets moving (although we will finally get a clear uptrend of higher highs and higher lows in the miners and silver for that slow grind higher). Just IMHO.
              Last edited by Spanky; 06-11-2018, 11:10 AM.

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              • #8
                Originally posted by Spanky View Post

                I think it will be a very slow grind upwards for the next few years before it really gets moving
                I’’m hoping that many have already lost interest in the sector, and it rises faster as a result, through a mix of chasing higher, technical breaks, and finally recognition of momentum. I do read a lot about it going nowhere for a while (from very credible observers)...but it just brings out the contrarian in me!

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                • #9
                  USD:

                  https://likesmoneycycletrading.wordpress.com/

                  Comment


                  • #10
                    I think the weekly Ichimoku cloud for SLV and $silver support my prediction of the next ICL in October or thereabouts being at about today's price level. Call it a backtest of a breakout if you would like.

                    I am long silver miners, so I hope I am wrong, but I am not getting my hopes up here. And again, they can certainly spike silver up above the 100 WMA for a little while into the next IC high.
                    Last edited by Spanky; 06-11-2018, 12:03 PM.

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                    • #11
                      Bitcoin:

                      https://kimblechartingsolutions.com/...-get-cut-half/

                      Comment


                      • #12
                        Here's my cynical guess (albeit still bullish) concerning silver's price action into next year:

                        Click image for larger version

Name:	Screenshot-2018-6-11 SLV - iShares Silver Trust.png
Views:	1
Size:	50.9 KB
ID:	384735

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                        • #13
                          IPO's:

                          https://www.seeitmarket.com/getting-...pos-year-2018/

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                          • #14
                            From my weekend updates where I covered BitCoin/GBTC in addition to: Gold, USD, Stocks (SPX), Bonds (TLT), Crude Oil (WTIC), NatGas (UNG) and Uranium (URA). I also covered the Marijuana sector in my last mid-week update on June 4th.

                            I see more pain ahead for BitCoin and GBTC into their next Intermediate Cycle low sometime this summer.

                            https://surfcity.co/2018/06/10/bitco...ycle-update-7/
                            "Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria." Sir John Templeton

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                            • #15
                              Originally posted by Spanky View Post
                              Here's my cynical guess (albeit still bullish) concerning silver's price action into next year:

                              Click image for larger version

Name:	Screenshot-2018-6-11 SLV - iShares Silver Trust.png
Views:	1
Size:	50.9 KB
ID:	384735
                              My target on SLV is 17.50 over the next couple of weeks if price can remain above the 200ma, which it gapped up over at the open.
                              "Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria." Sir John Templeton

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                              • #16
                                Originally posted by Surf City View Post

                                My target on SLV is 17.50 over the next couple of weeks if price can remain above the 200ma, which it gapped up over at the open.
                                Would love to see it. I just can't see SLV getting that far above the 100 WMA now.

                                Comment


                                • #17
                                  Gary thinks gold gets slammed after the FOMC meeting. The action the last few weeks (bear flag) certainly supports that notion.

                                  Comment


                                  • #18
                                    Bitcoin:

                                    http://stockcharts.com/freecharts/gallery.html?%24NYXBT

                                    Comment


                                    • #19
                                      USD, miners:

                                      https://likesmoneycycletrading.wordpress.com/

                                      Comment


                                      • #20
                                        XBI:

                                        http://www.wsj.com/mdc/public/page/2...moneyflow.html

                                        Comment


                                        • #21
                                          SPY:

                                          http://www.wsj.com/mdc/public/page/2...moneyflow.html

                                          Comment


                                          • #22
                                            Fear & greed:

                                            http://money.cnn.com/data/fear-and-greed/

                                            Comment

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