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Wednesday June 13th

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  • Wednesday June 13th

    Futures just a tad green ahead of FOMC Wednesday.

    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
    Silver:

    https://www.seeitmarket.com/is-silve...qlnphI.twitter

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    • #3

      Leslie Picker‏Verified account @LesliePicker 15h15 hours ago

      Paul Tudor Jones to @andrewrsorkin: I think you’ll see rates and stocks go up in tandem at the end of the year; analogous time periods include ‘87 in the U.S., ‘99 in the U.S., ‘89 in Japan. ‘I can see things getting crazy to the upside’ (after Midterm elections)

      CNBC

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      • #4
        Since gold's all-time high in September 2011 there has been a clear weekly-cycle mid-year low every year. The mean (average) date of those lows has been June 18. The median (midpoint) has been June 19. This year, those dates are next Monday and Tuesday. The range of dates is fairly wide, going as late as July 24. Last year's low, whose timing might have some influence on this year's, was on July 10. Poly tweeted that the cycle is beginning to stretch in time. I don't see that, given that the mean and median of the last six are still to come.

        The chart has been congested around $1300 since May 15, four weeks ago. The bullish news is that it has left itself plenty of room for a final drop into the mid-year low that is higher than the previous weekly cycle low in December, at $1238. That was for the front contract, February at the time. Gold has less room to decline before hitting the supporting trendline going back to late 2015. The fact that many traders pay attention to trendlines (some of whom, like Peter Brandt, are skeptical as to their significance) suggests to me that a drop below the recent low would result in highly energized trading. That recent low was $1281.2 for the front contract, June at the time. I can imagine the trendline stops being hit followed by a quick rebound, leaving only a candle-tail below the line. Chartists would thus be able to deny or minimize the breakage of the trendline. If the break occurs and precipitates sustained heavy selling, traders will be watching whether the $1238 level holds, maintaining the pattern of higher lows. If that level is broken, there will be significant "damage" to the chart and to the bull case. By contrast, a candle-tail below the trendline would arguably leave the bull case well intact.

        The FOMC activity on Wednesday obviously might trigger the selling that will give us either our mid-year low or, before much longer, the breakdown of the long-term bullish chart pattern.

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        • #5
          Interesting view Bulldog, thanks for posting.
          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


          • #6
            Futia:

            http://carlfutia.blogspot.com/

            Comment


            • #7
              Interest rates:

              https://kimblechartingsolutions.com/...out-test-play/

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              • #8
                More Pain Ahead for Cryptos

                Watch out below if you are long this sector…

                https://goldtadise.com/?p=430236

                Click image for larger version

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                "Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria." Sir John Templeton

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                • #9
                  Got a few /MGCQ8 micro gold ,stop 1290$.Keeping my miners so far.Any ideas from Piros Cap??
                  Last edited by froll61; 06-13-2018, 01:57 PM.

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                  • #10
                    Big nothing-burger reaction to the FOMC in the gold market (and the EURUSD, which I have been short for a while). Maybe Powell is still talking, but those markets aren't going anywhere at the moment.

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                    • #11
                      https://goldtadise.com/wp-content/up...-2-800x523.png GLD/SLV ratio

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                      • #12
                        https://goldtadise.com/wp-content/up...art542Gold.png

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                        • #13
                          https://goldtadise.com/wp-content/up...art543Gold.png NO room to drop???The last standing???

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                          • #14
                            The Man who controls the dollar,just called Mr Fibbonaci...this is what he plans..https://goldtadise.com/wp-content/up...8/06/FIBO1.png

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                            • #15
                              NYMO:

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

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                              • #16
                                I'm pretty much in cash now. Cumulative SOS number is around 3 billion, the lunar red period starts around June 15th.
                                .

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