GOLD DCL STILL SEVERAL DAYS AWAY
Some analysts were expecting gold to form an early Daily Cycle Low. I’ve been warning that gold needs to break the cycle trend line before the DCL can bottom and to beware of a fake out. It turns out I was correct to be patient. I doubt gold will form the DCL until right before, or on the FOMC statement next week. More patience.
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Hey, Gary
Looks like today could be the day that gold takes that swan dive. The US$ is certainly looking strong.
Any thoughts on how low gold could go before we get a bounce? The US$ looks like it could be topping in this current up move.
I’m not really expecting a bottom until around the FOMC meeting.
Probably.
major market etfs still hanging up there. pm sector pulling back. a few more days? we could be awfully close to an important turning point in pm and copper sector. fcx could be attractive in the 11 region. Next stop 20-22?
that’s still many trading days away… till FOMC
This may be the time gold stock, gdx plunge to the 200 dma?
no inflation insight?
I doubt the global economy will rebound soon thanks to low industrial output, heavy debt, and the commodities collapse.
bring out moar QE
Gary, some are now saying that we have started a new bull market in stocks. Is that your stance also?
We started it back in 2009.
Of course we started a new bull market in 2009. However, Some are saying bull market ended in July of 2015 and we experienced a bear market that ended in February thereby putting us into year one of a brand new bull market. Does that sound plausible to you?
I meant to say : Some are saying bull market ended in May of 2015……
It was just a 7 YCL. No different than the drop in 98.
AT finally broke its flag today Oil shorts are gonna get burned….
Messy chart, sorry
https://s3.amazonaws.com/tradingview/snapshots/p/PVsa1gW8.png
ATW my bad
Gold _ no doubt an Ugly day for miners. I noticed sometimes an ugly day in miners presages an Ugly day in equities… we shall see with the Dow up 9 days in a row its time is coming..
Gary the miners are hammered a lot more than gold’s decline today, especially the juniors.
I’ve been warning that miners were stretched 70+% above the 200 day moving average. Too many people were thinking this time would be different. It’s never different.
The entire sector needs a sharp correction into a daily cycle low to reset sentiment, allow the commercials to cover some of their shorts, and set up the next leg higher.
critical time: 2 pm on July 27? Time will tell.
SentimentTrader is saying we are at extreme pessimism in miners right now
http://kingworldnews.com/alert-sentimentrader-just-issued-an-extremely-important-update-on-the-gold-market/
I agree, I haven’t seen anyone bullish on miners or metals for several weeks.
When the h… will we get a pullback into a half cycle low in the stock market? This continued push higher is too much too soon.
Hi Gary,
where is the OIL intermediate sentiment? can you please post it,
Thanks.
You know I dont think theres any analyst that gets it right every time but what I like about Gary is that he as he says when he was looking for guidance as novice trader someone who is ¨Close enough¨ so I recommend everyone still on the sidelines to get on board and give it a try especially when he is always offering a discount. I mean come on you trade with thousands of dollar but dont want to spend a measly $200 a year mind you for a subscription that could be made in one day. Get on board become part of the group. I have been with Gary for 2 months and I have made my money many folds the subscription fee. I mean come on how much are you trading with that you cant afford his price, a $500 portfolio haha. It gets pretty sad to see people asking for free advice when his subscription costs pennies in the trading world. See you on the other side.
I think Gary is one of the very few analysts who are getting the coming DCL timing correct.
Gary do you foresee the DCL of gold, silver, and miners to come in simultaneously on the same trading session or they could be apart?
Thanks.
Probably the same.
with the USD/JPY top (?)
Gold/Silver hitting DCL or fake move.. ?
Thanks Gary