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Friday,May 17th.

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  • Friday,May 17th.

    Markets are lower 0.75%,gold is down 3$,oil is up 0.40%. today is the END of current 4D candle.... with 5ma dead cross 10ma on 4D plus the fact that this 4D candle less likely to close above the open of previous red candle 2890, it's highly likely we see a pullback to mid BB around 2834-2837 range next week...

  • #2
    Futia:

    http://carlfutia.blogspot.com/

    Comment


    • #3
      It looked like resistance at 2881 had failed yesterday but the market closed below that level and continued downward. Consequently I think the ES will drop below 2800 before it rallies above 2900.CARL FUTIA.

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      • #4
        Lunar green cycle starts next monday????

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        • #5
          QQQ 182 $MAY 17 and 181$QQQ24May calls are closed at 10.01 am.Probably,roll over for 24 may QQQ calls today.Just read the tape.

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          • #6
            Originally posted by froll61 View Post
            Lunar green cycle starts next monday????
            Full moon is Saturday, so next Monday should be about right for the start of a lunar green period.

            Comment


            • #7
              Fear & greed:

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

              Comment


              • #8
                One of the ugliest reversal candles being printed in GDX in as long as I can remember. I would rather just see a collapse in price today than see this black candle print at the close, TBH. It 100% guarantees we will get a lower weekly close in the future as it stands. Also, while the weekly candle in GLD is red, it is extremely ugly, and if we go any lower it will be an outside reversal candle.

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                • #9
                  At 37 weeks, the gold intermediate cycle should have completed on any normal world. The 5 week RSI also briefly hit oversold and then rebounded. The only other times the 5 week RSI immediately went back to being oversold was during collapses in 2016 and last year, which were left translated intermediate cycles of normal length.

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                  • #10
                    Banks:

                    https://kimblechartingsolutions.com/...ys-joe-friday/

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                    • #11
                      Bitcoin:

                      https://twitter.com/nebraskangooner/...96252351844352

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                      • #12
                        How is Hecla still alive? looking strong after 50 years



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                        • #13
                          SPX:

                          https://twitter.com/ThinkTankCharts/...10282562580481

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                          • #14
                            This is either going to end up like 2013 where gold collapses $100 or more from here, or this will turn around soon. You would have to come up with a new ICL count. But whatever. I remember 2013 well. Gary Savage was like "just hold on the ICL is just around the corner." Except it wasn't.

                            I have to admit, the gold:silver ratio breaking out does not give me warm fuzzies. It projects to a GSR of 105. It built a base out for basically 1.5 years and is breaking out just now, so it doesn't look like some fakeout to me.

                            Yep, this looks pretty damn bleak right now. And maybe the writing is on the wall, clear as can be.

                            Right now it looks like USD is about to skyrocket. The weekly MACD, has been flat for over a year in positive territory and if it turns up it could generate a huge sustained spike in USD.

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                            • #15
                              Silver:

                              https://twitter.com/PeterLBrandt/sta...93568235266048

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                              • #16
                                We might be able to break the $1267 pivot in $gold today with the way things are going. But I imagine they will wait for next week. There is almost no chance it holds. And then what? We either have a stretched cycle (40+ weeks), or you need to re-evaluate where the last ICL occurred and we admit that we could be at the start of an extreme left translated cycle a la 2013.

                                There is absolutely no catalyst for gold, much less silver or miners. Let's face it. The CoTs for gold are going to look pretty bearish today too. So plenty of room (and many weeks) for gold to drop much further if that's what they want to do.

                                The ONLY factor in gold's favor is cycles, and as we saw in 2013, that can go out the window quickly.

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                                • #17
                                  Well, GDX has currently reversed as of now. It needs to hold on to a gain today! Would like to see it at or over $20.63.

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                                  • #18
                                    I don't remember last time miners were up when gold was -1%. Should be very bullish, but could be some kind of manipulation trap. I don't give any benefit of doubt to miners

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                                    • #19
                                      Originally posted by rutku10 View Post
                                      I don't remember last time miners were up when gold was -1%. Should be very bullish, but could be some kind of manipulation trap. I don't give any benefit of doubt to miners
                                      I agree. Things can go south in a nanosecond. It could end up closing down 3%. Still, I would rather see this than being down 3-5%.

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                                      • #20
                                        If GDX weekly candle closes as a black candle, you can pretty much guarantee there will be follow through to the downside in the future--either next week or after a bounce.

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                                        • #21
                                          Once GDX hit 20.62, it was sold hard. Let's see how she closes. If it closes under 20.63, I think you can pretty much guarantee lower lows soon.

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                                          • #22
                                            Surfs Crypto Warning

                                            Was anyone listening or paying attention? I sold my Etherium (ETH) positions on Wednesday at $270 for a very nice gain but my chart below shows that BitCoin & other Cryptos are likely moving into a Trading Cycle #3 low now. If you are trading this sector, will you know where the next low will form and when?

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                                            https://goldtadise.com/?p=443841
                                            ​​​​​​​
                                            "Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria." Sir John Templeton

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                                            • #23
                                              HUI is exactly where it was during 2008-2009 financial collapse. Absolutely insane to think that gold was about $680/oz and world was about coming to an end at the time. one of the worst performing sectors I have ever seen. Most of these companies are so poorly managed that they are almost worthless.​​​​​​​

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                                              • #24
                                                In the last 8 years, SIL had a 6 month window where it made higher highs and higher lows. The remaining 7.5 years it has done nothing but make lower highs and lower lows. That 6 month rally was enough to entirely reset sentiment, and it has done nothing but drop since. It's almost destined to at least retest the 2016 low. What a POS.

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                                                • #25
                                                  Have to say Peter sounds bitter.

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                                                  • #26
                                                    It's also possible to say that we got a normal 37 week IC in gold, but that we just topped on week 2 and are headed lower for the next 10-20 weeks.

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                                                    • #27
                                                      Originally posted by james rangel View Post

                                                      Have to say Peter sounds bitter.
                                                      He sounds like a complete jerk.

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                                                      • #28
                                                        Originally posted by Spanky View Post
                                                        It's also possible to say that we got a normal 37 week IC in gold, but that we just topped on week 2 and are headed lower for the next 10-20 weeks.
                                                        Spanky, you may be right about breaking the 1267 pivot in gold. If it happens sentiment should be bearish enough to turn gold and silver around.

                                                        I am looking under my sofa for loose change to buy some silver.

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                                                        • #29
                                                          USD & commodities:

                                                          https://twitter.com/MysteryTrader99/...56861437153281

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                                                          • #30
                                                            GDX closes the week positive and above the declining 50 WMA by 2 cents. It also made a higher high than last week's candle, which one could argue was a bullilsh inverted hammer. So a miraculous close for the miners today. We'll see if the fairy dust can last. A drop below $20.14, even intra-day, next week, would nullify today's constructive action.

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                                                            • #31
                                                              Of course, UUP closes at the highs of the day.

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                                                              • #32
                                                                Originally posted by Spanky View Post
                                                                This is either going to end up like 2013 where gold collapses $100 or more from here, or this will turn around soon. You would have to come up with a new ICL count. But whatever. I remember 2013 well. Gary Savage was like "just hold on the ICL is just around the corner." Except it wasn't.

                                                                I have to admit, the gold:silver ratio breaking out does not give me warm fuzzies. It projects to a GSR of 105. It built a base out for basically 1.5 years and is breaking out just now, so it doesn't look like some fakeout to me.

                                                                Yep, this looks pretty damn bleak right now. And maybe the writing is on the wall, clear as can be.

                                                                Right now it looks like USD is about to skyrocket. The weekly MACD, has been flat for over a year in positive territory and if it turns up it could generate a huge sustained spike in USD.
                                                                David Larew‏ @ThinkTankCharts
                                                                FollowingFollowing @ThinkTankCharts
                                                                US Dollar - UPP - a close at the highs - bad news for those S&P 500 companies that export. Making prices expensive again. Iran or walked likely why it closed at the highs. WAR??

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                                                                • #33
                                                                  #GOOGL Daily: $GOOGL never even made it to the BC. 13MA & 50MA holding as resistance. B-wave top starting to confirm. Red candle Monday confirms. Anytime you have descending Lower BB so much lower than current price, thatís ripe for a flush $GOOG #GOOG #tech $FANG $FANGS #FANGS

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                                                                  • #34
                                                                    Daily $SOX : #SOX trap door opened, bear flag failed. SOX not having any of this. Chasing Lower BB as fast as it will fall. 200MA could happen by end of next week. #chips #Semiconductors #tech #technology $INTC $AMD $NVDA

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                                                                    • #35
                                                                      #Dow Daily: $DOW yet another triple rejection of 13/50MA & Blue TL. This time with a toooing tail inverted hammer. MACD looks like itís about to vomit (identical to October) #economy #DowJones $INDU

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                                                                      • #36
                                                                        $VIX Daily: #VIX sure enough, narrow doji just as I warned... This is setting up for potential explosive risk-off move next week. I warned end of day yesterday about 50MA/BC holding as a warning trigger. Close above 13MA Monday = bearish confirmation #volatility $TVIX #TVIX

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                                                                        • #37
                                                                          Daily #NASDAQ : $COMPQ BAD BAD BAD... This could get very bad... 13MA rejections after 13MA/BC bearish cross are the most bearish scenario. Never even made it to BC, trying to close below 50MA. Could enter full Risk-off next week #NDX #NQ $NDX $NQ

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                                                                          • #38
                                                                            Weekly $BCOM : #Bloomberg #Commodities stopped dead in its tracks. More analysis revealed a secondary support TL which held. Given this weeks massive bullish engulfing candle, it appears commodities are not buying #USD strength. Interestingly $ZN agrees today #commodity #DXY

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                                                                            • #39
                                                                              Daily $TNX : 10YR #Treasury #Bonds surprising sudden stop. Upon further inspection could be a potential double bottom & descending triangle forming here. Need few more days to confirm, next week should be interesting. Watch 2.36 like a hawk $ZN #TLT #bond #yields #USD #TNX

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                                                                              • #40
                                                                                $TSLA Weekly: #TSLA weekly does not lie... Plummeting hard to its 190 support. 190 is last hope for a bullish turn around... if cannot hold 190, high probability itís best days are behind it (sadly). OEM sharks smell blood in the water #Tesla #electric #car #elonmusk #SEC

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