It’s too late to sell short and too late to stop out. Hold on for the cycle low. Once it forms we will test the all-time highs during the second daily cycle.
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I guess we are ready..
Gary, Great video. 57 days seems quite long for a Daily Cycle. Any chance that the DCL was back on day 38 and that we are in a new DC that has topped early around day 9-10 and that we are rolling over already. I guess I am just never as certain about anything to do with the markets as you are as markets always seem to be sending us curve balls.
Also, the reading on your Mac Oscillator back on day 38 was quite similar to the reading now. I agree that we are oversold short term and due for a bounce. NFP should also be key as well.
One quailifcation I use to determine a cycle low is just a commone sense confirmation. A DCL has to look like a DCL. It needs to be clearly recognizable. The 4 day dip in early April doesn’t qualify, especially if you look at the NDX chart. There is nothing there that one can clearly recognize as a DCL. Also a DCL should turn the 10 day moving average down. That never happened during the dip in early April.
Here is the latest video from the “Crazy Man” Some good stuff on Gold, Stocks and Oil starting about the 9:09 mark.
https://www.youtube.com/watch?v=dW4QDWKglJA&list=TL9P3eLp83OjQwNDA1MjAxNg
Surf City / Gary,
Cycles are new to me. What date was Day 1?
57 or 38 days back don’t look like anything to me.
Cheers
Feb. 12
Alberta oil sands fire poised to expand, officials say
Alberta oil sands producers are not yet in the fire’s path but have cut or halted operations because of evacuations:
http://seekingalpha.com/news/3179788-alberta-oil-sands-fire-poised-expand-officials-say
that video was clear Gary.
The timing is pretty clear– going high soon… then…..?!
Thank you
I don’t buy into this notion that the S&P is going to make a new high on it’s next leg up anymore than I bought into the Biotechs are going to go parabolic. In fact, I am heavily short the S&P as well a the Nasdaq via triple leveraged inverse ETFs.
Seems kind of dangerous to be short ahead of the jobs number. Don’t forget the Fed has a printing press.
I am buying back into sliver ( not the miners) via a 1X ETF, (SLV). I sold all my 3X ETF, (USLV) a few days back just in case there is a significant pullback.
You would think with all that money you’r’e bragging about making after the fact, you would be able to afford a subscription by now.
How would you know if I have a subscription (or not)?
Gold is finished and good luck Don lol
https://s3.amazonaws.com/tradingview/snapshots/w/Wwpq05cO.png
$2040 approaching for the S&P will it hold??
Gary you previously have said the average daily cycle count is 35-45 days. If Feb 12 was the first day of the current daily cycle that is over 80 days we have then been in this current daily cycle. Does that make sense?
And since Feb. 12 all we’ve had mostly is lows lower than when we’re at right now, so almost any day since then could be the “daily cycle low”…
Only count trading days. Today is day 59. Cycles are evolving and stretching due to QE and negative interest rates.
Im not sure if Gary is gonna be right this time about gold. IMO if it doesn’t sell off hard tomorrow on the US data then their will be no reason for it to fall again. June hike possibility would be off the table. Do or die tomorrow. Larry Edelson says it could have an inverted cycle where it goes to 1400 from here.
Hi Gary, did you see the latest in COT gold speculator longs. Huge increase. With USDI going up i can’t make sense of that. What are your thoughts? Cheers