11 thoughts on “CHART OF THE DAY”

  1. Sam

    Gary,

    So, your daily newsletter tonight is calling to buy gold/miners tomorrow, or still expecting lower low to $1100 as your previous blog chart suggested?

    Thanks

    1. gary Post author

      I’m going to wait a day or two and see if gold is immediately attacked to erase today’s rally. Gold has become such an artificial market that one simply can’t trust any candlestick patterns.

      Gold is due sometime soon for an intermediate degree rally but it’s also still due for a much larger decline by next summer to test $1050. So don’t expect gold to make a higher high even if it does rally for the next 3-6 weeks.

  2. Lee

    Gary the rally in the spy that started today, for how long and how high do you see this rally going? Are we going to all time highs and beyond? thanks.

    1. gary Post author

      Yep spoke too soon. But we should be close. Tomorrow will be day 44 and the NYMO is diverging even more today than it was the other day.

  4. Amy Polos

    Gary, I guess now we are 44 day cycle. I still think will hit another high by FOMC. Or we get a suprise any day now to increase QE rather than halting it. Amy

  5. Bill

    Gary, based on your reply above, I have 2 q’s please.

    1) for your SMT subs, are you going to try to take advantage of the next ICL you speak of, by going long GDX etc.? Or will you stand down because of risks involved w/the much larger decline you speak of?

    2) Again for your SMT subs, when gold goes down to 1050, will you try to short GDX by going long DUST etc.? I mean, if that bottom is next summer, I’d imagine that something like DUST would go up for several months.

    Thanks much.

    1. gary Post author

      I’m terrible at shorting so no shorts.

      I’m letting everyone decide for themselves if they want to trade the metals. For myself I’ll probably stand aside until next summer or if an intermediate cycle can make a higher high.

  7. Stephan

    Maybe someone of you is interested in Trading the German DAX. I am, as I am from Germany.
    We also had a massive selloff and are about 13 % below the all-time-high right now.
    Almost everybody here is crying “Crash!” but I for sure will not join yet.
    Actually I think there might be a great buying opportunity. Just considering the election cycle, we are at a cyclical low right now (Oct 10).
    Whoever is interested can find a screenshot here: http://gyazo.com/e2cccf5b4d3c1e3c695b7a576479ae3a.png

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