34 thoughts on “CHARTS OF THE DAY

    1. Jay

      Even a stopped watch eventually tells the correct time. 🙂 I still recall in the fall of 2012 that there was a 6% position in GDX calls as well as the 10% position in SLV LEAPs as well as the TVIX trade that was a 10% position which got cut in half. I suppose this was a better year than 2012, but I have a feeling most folks around here are still merely playing catch-up, and it will be a long way back to even…..and that’s assuming Gold doesn’t fizzle out again soon.

    1. gary Post author

      As long as nothing drastic happens for the rest of the day the weekly charts will look very good this week. I don’t care if GDX moves above 16.16 today or not. The weekly charts are more important. We want gold to continue to climb the wall of worry so slow and steady is better than a rocket launch.

  1. Stefan

    No Gary, we will not be out of the bear until late 2018 early 2019 according to Mr Fibonacci. My mentor analyst tells me that he expects a major financial event at this time.

    Yes I admit it’s an ambitous plan but it’s based on math, no guesswork here … lets see how it unfolds 🙂

    1. gary Post author

      But I thought the markets move on emotions not math???

      Or on QE, which I think has already started.

    2. victor

      no-no-no Stefan, friend of my friend is a very good mathematician (university teacher) he quit trading broke several years ago saying math doesn’t work for trading. He worked with his own algorithm system…, be careful with math applying here…

  2. AlexP

    Yes, Gary, high reliability (percentage of wins / batting avrg) of your calls !
    Yes, gold bugs will be shaken big time in January as USDX puts its YCL in December and moves upwards to meet its new YCH.
    Now that it is clearer that you were right calling this week number 6 and not 21 in this IC of USD, I think we can agree that greenback’s YCL will be reached sometime in Dec (most likely on Santa Claus’ optimism), right ? 🙂

    TO JOHAN: please be very careful with those USD longs that you mentioned yesterday !!! Keep tight trail stop there. You’ll be better off with USD longs after you’ve received your Santa present.

    On stocks: As I said last evening to Bob from UK, after such a convincing penetration of 50dma + of upper daily cycle band … uuuaaa! … I can’t help starting to jump on Gary’s bullish bandwagon.
    I will be looking for today and in the next 2 weeks:
    – steadier larger volumes on up days and low volume on low ones,
    – down days to be relatively shallow and
    – DCL to come in 2weeks from now to hold the lower cycle band.
    IF ALL THESE 3 CRITERIA ARE MET, I’ll be 99% we are in a new bull as Gary has called and I’ll start buying small pilot positions (anti-Martingale style) in anticipation of earnings reports.

    I’ll go 90%-100% long in leading stocks after the ICL to come sometime in Jan-Feb, a little e bit after gold’s ICL and right before the earnings season.

    ooooh, and yes, as Gary just mentioned and as I commented earlier today: havoc in 2017 is guaranteed –> 1-2 rate hikes by FED in 2016 will pave the way for a US recession –> marvelous time to reset stocks’ bases and cater new fresh opportunities again 2 years from now 🙂

  3. mj12

    Nice call…..you were pretty much the ONLY analyst that called the gold bottom in July and backed your mouth with your money. Holding your positions through the strife……..that takes balls.


  4. gary Post author

    The HUI is up 15% this week. And all the technical traders were telling me that gold was going back down….

    Glad I didn’t listen to the technicals. They lie to you at major cycle turning points and try to keep you on the old trend that’s ending.

    1. AlexP

      yes, I know: I was one of them 🙂 as I saw USD in week 21 now instead of 6 in its current IC, with an impending YCL next week instead of in Dec (a DCL in USD next week is ripe though as well as DCHs in stocks and gold).
      Again: “Chapeaux, Gary!”

  5. victor

    so, AlexP, if ” havoc in 2017 is guaranteed –> 1-2 rate hikes by FED” as you said, do you think gold continue up despite rate hike? Thanks

    1. AlexP

      Sorry, but I do not know the answer. Historically it might just as it happened in 2003-2008 as Greenspan rose the rate quite aggressively from 1% to some 5.75% (if I remember well) or it more likely it may not as more recent QE-related history has shown: gold had reached its peak on Sep06, 2011 if i also remember well –> quiiiite ahead of the onset of QE3 one year later.
      So….to conclude: I do not know 🙂
      I do not like metals and commodities or currency trading. I am into stock trading and I use intermarket correlations to guide my sense of the overall trend in stock indexes, but I rarely go into macrotrading tools such as gold

  6. Mr Edge

    At what point will this rise in gold price force the speculators short gold futures positions to either hammer the gold price or cover?

    1. gary Post author

      I’ve said all along that the bear market in gold was created artificially by the bullion banks to force gold, and especially miners as low as possible so as to maximize gains during the next leg of the secular bull. Well they managed to get the XAU all the way back to the 2002 lows. So I’d say they have accomplished their goal. They have set the market up to produce probably the largest bull market in history and in the process made some money on the way down.

      The bear market in gold had nothing to do with the Fed. The Fed is free to print as much money as they like. The price of gold was never going to stop them.

  7. Dan

    sub 1000 SPX, sub $10 silver and $20 oil before this is over. Those of us who are patient and aren’t living trade to trade / paycheck to paycheck can wait it out.

  8. Jay

    Looks like another bull-trap occurring in GDX …should be interesting to see if GDX now works it’s way down below $13 again. If so, then this will end in tears, eventually, for those that don’t believe in hedging their bets. 🙂

  9. Frank

    Great Call!

    If we compare next gold bull with the Dow from 1980 till 2000, the test of $1080 could be like the test of Dow 1000 in 1984.

    So, we have a long way to go! Seems odd as we have already 15 years behind, I always thought that gold bull would be over once gold 5000+. But if we have another 15 years ore more this could be a different game.

  10. Marek

    You are wrong! USD will top around 2017/2018 . This should create recession worldwide. USD tops: 1969, 1985,2001, 2017/18 ! No way out. USDx top in 2015? Funny:)

      1. Mr Edge

        Mr. Armstrong is too rigid in his thinking for an investor to make money. All theory and endgame. There is a lot of money on the table in between those two. Be flexible and open minded in this investing environment.

    1. gary Post author

      In case you didn’t notice, nothing bottomed on Sept. 11. Gold bottomed on July 24th and everything else bottomed on Aug. 24th.

        1. gary Post author

          I’ve been very clear in saying that i thought gold would come up a little short of the 1033 target. No one should be holding short hoping to tag 1030 exactly at this time. Gold got close enough.

  11. David Silver

    Crude overnight printed her kiss of death on both the 50 and 200MDA hence her weakness today.
    Sold long position and went short towards the close.

    Holding gold miners and US equities into the weekend.

  12. Trond

    This gold triangle breakout has been way too messy, chopping and overlapping. Different from silver and oil’s clean breakout.
    Everybody get hypnotized by this everlasting ever elusive ongoing breakout, and the COT longs accumulates in anticipation. + Negative divergense on the daily rsi (which has not yet broken out of its triangle). The most likely next is a long red candle down ‘to hades’ any day now, the last shakeout, because it is a strong resistance area that gold & the miners now have reached up to.

Comments are closed.