46 thoughts on “CHARTS OF THE DAY – DOLLAR STARTING A NEW BEAR MARKET”
GaryPost author
I’m on my summer climbing trip so no videos for awhile until I get back to Vegas.
shine07
So Gold and Silver should jump!! But they are going down with USD!?!
GaryPost author
This is just a knee jerk reaction to the Brexit. Once that is past the market will have to recognize that the dollar is in serious trouble and gold will go back to trading in its normal inverse relationship.
Just have some patience, it won’t be too long before gold turns back up.
humbled
hi shine07
that’s because market participants are too absorbed with Brexit to see it at the moment
humbled
thanks Gary for sharing despite being on trip 🙂
chrisG
Gary, i think u are right. But after brexit vote, gold is in the best shape to plunge $50 ish or more , who knows maybe to 1190-1210 area. THis drop could be over in 3 days. Note, it did not make a big fib retracement. Thereafter, then gold will figure out that dollar is dropping, and then reverse to upside breakout.
Anthonyo
Supports at 1206, then 1175.
bill
Thanks Gary, Be safe!…
humbled
usd doing BT above 93 before Brexit outcome is known for possibly bigger flush down
humbled
back test 93.42-93.43 area DXY
Alexandru Popovici
market has already digested the proEU UK vote.
1) miners have produced a swing low –> day 1 in new cycle and advent for gold’s resumption of growth in a new DC
2) stocks to resume quickly their strong, forceful decline till autumn.
Trades to have:
– long gold (already have it)
– long treasuries –> to initiate tomorrow.
Alexandru Popovici
the negative correlation gold-usx has resumed since 11:20 ET
stock bulls should be aware that this brexit thing will act as a classic buy-the-rumor-sell-the-fact event.
the only assets worth being long in are gold and treasuries.
victor
Alex back !! Nice to see you again ( :
tfinavia
Thanks Alex! I am following the same but maintain that after strong dip post Brexit (Britain exits or modifies treaty with EU while remaining) we will have one more strong rise and then the strong, forceful decline you mention could start after July 20 going into August. October may show long trade. Please share additional insights as they come.
Dissenting point of view on gold and USD. Dont shoot the messenger pls.
” Gold: The latest COTs in gold show a dramatic surge in Commercial short and Large Spec long positions over the past two weeks to new record extremes. This is viewed as an outright bearish setup.
“www.sentimenttrader.com in gold now at a wild bearish extreme. If you are a trader long the sector, and are not worried by this, then I am sorry…”
” USD: On the 3-year chart for the US dollar index we can see that it has stabilized above strong support towards the lower boundary of a giant rectangular trading range, with a potential base pattern forming in recent months.
The latest US dollar Hedgers chart makes for interesting viewing. This chart shows that Hedgers’ positions have been steadily improving since the dollar peak over a year ago, following the strong run up, and they are now closing in on being outright bullish.”
“Additionally, with negative rates in Europe and Japan, and the US Fed due for at least one rate hike this year, how can USD not rally as a safe haven and for global investors looking for higher yield?”
GaryPost author
I’m going to bet my cycles against the COTS this time. I say the dollar has begun another secular bear market.
Robert
Gary the next good play could be short oil and the market? Remembered you saying one more leg up on SPY and then market should pull back.
Alexandru Popovici
yeap, Humbled, let’s see how it all unfolds.
in the meantime the negative correlation btw USX-gold has gained control: since 11:40 ET trends have temporarily reversed with USX up and gold down.
It’s nice to see Brexit noise fading away!
victor
Alex back !! Nice to see you again ( :
Anthonyo
Bremain ir Brexit Day: a fizzle so far in markets.
Alexandru Popovici
Victor! hey, hey, dear mate! Good to hear from you too 🙂
I hope you’re doing fine.
looking forward to tomorrow’s price action!
tulip
Hi Alex,
Im interested in how things are in Romania…economy
people….it is very tense in the U.S. not healthy at all.
Sanders the single viable candidate.
tulip
Dang
Haha…if your a socialist…and if that’s true, what are you doing here?
tulip
I m doing here because Im highly supportive of rules and regulations not organized
crime in our govt and military industrial complex…
I support our Constitution & I support Sanders..
There are distinctions and having a brain sees them~
humbled
yes, and the currencies are getting wild swings as the poll results are gradually released by the media
heybuddy
SPX getting crushed. Will be interesting to see how it plays out overnight.
GaryPost author
The PPT is already at work trying to reverse the sell off. I’m perfectly happy with them propping up the stock market. I’ve come to expect it by now.
But I hope they also leave the metals alone to continue their natural rally out of the intermediate cycle low.
heybuddy
Already had a 70 point range in SPX, $36 in gold and .48 in silver.
tulip
you ‘hope’…??? is that you Gary…????
goldilocks
I’m proud of you Brits (voting to exit).
heybuddy
New lows for SPX down 60 points. dollar & gold both up big.
heybuddy
Dow futures down over 500 points
GaryPost author
As long as the powers that be don’t reverse everything by morning we should see the miners break through the 200 week moving average tomorrow.
Joseph69
Hope no one is holding LABU.
Robert
Damn cant believe y’all was buying Labu. That was a bad call
Joseph69
Dow -680.
Joseph69
So new lows instead of highs in June.
Maybe 7 year lows might still be ahead of us?
Joseph69
-730
humbled
98% votes counted, looks Brexit is set.
humbled
dxy index knee jerked big time to retest 200 day moving average
Steffmeister
Congrats Great Britain, a great day for Europe, lets get rid of the tape worm called EU as soon as possible !
Do not trust Gary’s 7year low is in and now we will see a new bull in stocks. Yes we could break to new highs in 2017, but it’s going to be a brief moment, then we turn downwards big time, holy smoke.
Raoul Pal is a skllled man, a pro avaliable for us grass roots investors.
humbled
I believe Gary is correct.
Multi-year cycle low is in at 1,810 on the S&P 500 index and current correction is unlikely to breach that low.
We may test 2,000-2,025 and subsequently head up and down over time to 1,950+/- intraday and that’s probably it for the c-wave dip however timing wise could stretch a bit into July/august mayhaps. It depends on how much of the dip we achieve today US stock markets for a Friday weekly close.
humbled
that dip would be primed to go long biotechs
Joseph69
So did Gary try to time this post with the thinking the BREXIT vote would be shot down?
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I’m on my summer climbing trip so no videos for awhile until I get back to Vegas.
So Gold and Silver should jump!! But they are going down with USD!?!
This is just a knee jerk reaction to the Brexit. Once that is past the market will have to recognize that the dollar is in serious trouble and gold will go back to trading in its normal inverse relationship.
Just have some patience, it won’t be too long before gold turns back up.
hi shine07
that’s because market participants are too absorbed with Brexit to see it at the moment
thanks Gary for sharing despite being on trip 🙂
Gary, i think u are right. But after brexit vote, gold is in the best shape to plunge $50 ish or more , who knows maybe to 1190-1210 area. THis drop could be over in 3 days. Note, it did not make a big fib retracement. Thereafter, then gold will figure out that dollar is dropping, and then reverse to upside breakout.
Supports at 1206, then 1175.
Thanks Gary, Be safe!…
usd doing BT above 93 before Brexit outcome is known for possibly bigger flush down
back test 93.42-93.43 area DXY
market has already digested the proEU UK vote.
1) miners have produced a swing low –> day 1 in new cycle and advent for gold’s resumption of growth in a new DC
2) stocks to resume quickly their strong, forceful decline till autumn.
Trades to have:
– long gold (already have it)
– long treasuries –> to initiate tomorrow.
the negative correlation gold-usx has resumed since 11:20 ET
stock bulls should be aware that this brexit thing will act as a classic buy-the-rumor-sell-the-fact event.
the only assets worth being long in are gold and treasuries.
Alex back !! Nice to see you again ( :
Thanks Alex! I am following the same but maintain that after strong dip post Brexit (Britain exits or modifies treaty with EU while remaining) we will have one more strong rise and then the strong, forceful decline you mention could start after July 20 going into August. October may show long trade. Please share additional insights as they come.
Alex: agree with you on the DC.
Seems miners led Gold by at least 1 day in what appears to be a 1-2 or (iâť©-(ii) bullish setup to swing higher again, possibly into the traditional seasonally strong months of Q3 (July/Aug/Sepâť©.
Silver been holding up quite well
PL looks terrible.
Dissenting point of view on gold and USD. Dont shoot the messenger pls.
” Gold: The latest COTs in gold show a dramatic surge in Commercial short and Large Spec long positions over the past two weeks to new record extremes. This is viewed as an outright bearish setup.
“www.sentimenttrader.com in gold now at a wild bearish extreme. If you are a trader long the sector, and are not worried by this, then I am sorry…”
” USD: On the 3-year chart for the US dollar index we can see that it has stabilized above strong support towards the lower boundary of a giant rectangular trading range, with a potential base pattern forming in recent months.
The latest US dollar Hedgers chart makes for interesting viewing. This chart shows that Hedgers’ positions have been steadily improving since the dollar peak over a year ago, following the strong run up, and they are now closing in on being outright bullish.”
“Additionally, with negative rates in Europe and Japan, and the US Fed due for at least one rate hike this year, how can USD not rally as a safe haven and for global investors looking for higher yield?”
I’m going to bet my cycles against the COTS this time. I say the dollar has begun another secular bear market.
Gary the next good play could be short oil and the market? Remembered you saying one more leg up on SPY and then market should pull back.
yeap, Humbled, let’s see how it all unfolds.
in the meantime the negative correlation btw USX-gold has gained control: since 11:40 ET trends have temporarily reversed with USX up and gold down.
It’s nice to see Brexit noise fading away!
Alex back !! Nice to see you again ( :
Bremain ir Brexit Day: a fizzle so far in markets.
Victor! hey, hey, dear mate! Good to hear from you too 🙂
I hope you’re doing fine.
looking forward to tomorrow’s price action!
Hi Alex,
Im interested in how things are in Romania…economy
people….it is very tense in the U.S. not healthy at all.
Sanders the single viable candidate.
tulip
Haha…if your a socialist…and if that’s true, what are you doing here?
I m doing here because Im highly supportive of rules and regulations not organized
crime in our govt and military industrial complex…
I support our Constitution & I support Sanders..
There are distinctions and having a brain sees them~
yes, and the currencies are getting wild swings as the poll results are gradually released by the media
SPX getting crushed. Will be interesting to see how it plays out overnight.
The PPT is already at work trying to reverse the sell off. I’m perfectly happy with them propping up the stock market. I’ve come to expect it by now.
But I hope they also leave the metals alone to continue their natural rally out of the intermediate cycle low.
Already had a 70 point range in SPX, $36 in gold and .48 in silver.
you ‘hope’…??? is that you Gary…????
I’m proud of you Brits (voting to exit).
New lows for SPX down 60 points. dollar & gold both up big.
Dow futures down over 500 points
As long as the powers that be don’t reverse everything by morning we should see the miners break through the 200 week moving average tomorrow.
Hope no one is holding LABU.
Damn cant believe y’all was buying Labu. That was a bad call
Dow -680.
So new lows instead of highs in June.
Maybe 7 year lows might still be ahead of us?
-730
98% votes counted, looks Brexit is set.
dxy index knee jerked big time to retest 200 day moving average
Congrats Great Britain, a great day for Europe, lets get rid of the tape worm called EU as soon as possible !
Do not trust Gary’s 7year low is in and now we will see a new bull in stocks. Yes we could break to new highs in 2017, but it’s going to be a brief moment, then we turn downwards big time, holy smoke.
Here is a guy how knows cycles very well:
https://youtu.be/SDoIbFuKgfU
Raoul Pal is a skllled man, a pro avaliable for us grass roots investors.
I believe Gary is correct.
Multi-year cycle low is in at 1,810 on the S&P 500 index and current correction is unlikely to breach that low.
We may test 2,000-2,025 and subsequently head up and down over time to 1,950+/- intraday and that’s probably it for the c-wave dip however timing wise could stretch a bit into July/august mayhaps. It depends on how much of the dip we achieve today US stock markets for a Friday weekly close.
that dip would be primed to go long biotechs
So did Gary try to time this post with the thinking the BREXIT vote would be shot down?
Dollar roared last night. Still king of the hill.