105 thoughts on “CYCLE LOW FOR STOCKS

  1. isavage

    Booked profits in UVXY at 15.85

    Maybe small correction or maybe be fake BTFD before big slam down tomorrow.

    We will see πŸ˜‰

    Ref Gold’s Question: Yes feels just like that you begin to live and breath the stock’s “flow”

    1. Gary Post author

      I doubt there will be a slam down tomorrow. This has the earmarks of a cycle low and stocks don’t tend to reverse these moves like gold often does.

      I think there would have to be a major news event tomorrow to turn the market back down, and even then it would only be temporary as it’s too deep into the cycle for there to be many more down days.

  2. Don

    Well that’s a wrap. I like the way the markets behaved in the last minute. Down. That was no mad rush to buy as has been so typical in the early days after a BTFD event. I think the BTFD mentality is getting very old and at some point, it will become STFR ( sell the Fing rip) So, was the most recent low a bottom to be followed by more new highs? I am thinking not. However, even if it was and we are off to new highs, it won’t be a blow out parabolic event, in my opinion. I have no intention of trying to score a few measly percentage points of upside action and then miss what could be a rapid decline that few will be prepared for. If the market does get above it’s highs, my long term ‘plan’ is to be ready for the inevitable crash.

    1. Paul

      Well spotted Don… I don’t like the Risk- Reward… I’ve been staying in cash now for over 3 weeks… Gary might get a quick bump up… but there no real buy signal that has been activated on Indexes weekly CCI… in fact they have generated sell signals… Gary call is very late to the party… the move from Nov 2016 indexes… Gary pumped and dumped the metals… and now he is pushing major indexes… why is asking people chance a very small high risk move… just admit your calls have been bad since the Trump victory… that rally party is over and now about to pause, go down or sideways… Gary’s recent calls are just plain chasing… sure your going to try and claim a short victory… but be man enough to Admit that when your call is wrong and not blame any kind of manipulation… this excuse makes you lose the most credibility and seem totally not believable… I would like think that is not the case… but understand the perception it creates… FOR THE RECORD GARY IS CHASING AND LATE ON THIS MOVE… THIS CALL SHOULD HAVE BEEN MADE IN NOVEMBER 2016 AND BE ADVISING PEOPLE TO EXIT THE POSITION… AS THE RUN UP IS SLOWING DOWN… my advice is to sit this whole move out- take care everyone- p

      1. Gary Post author

        It’s just impossible for you to admit it when I’m right. πŸ™‚

        You have no trouble screaming from the roof tops when I get one wrong though.

        Bottom line: The portfolios just keep making slow and steady cumulative gains.

        1. Don

          I will congratulate you on being right when it the market plays out as you have predicted. If you are wrong, I will let you know also. That should be fair, right?

          1. Pedestrian

            Thanks for the link. I kind of like the charts at Investing.com so I signed up finally. Might make it easier for me to link and idea now and again. I will have to test it out and see if it has features like Stockcharts.

            About JDST….you might have noticed it fell all the way back to its .618 Fib this morning. Actually it dipped 3 points below the 14.49 target I had but I didn’t buy again (yet). After a sharp rise and fall like we saw there should be a rest period and I suspect that pullback low gets retested again possibly making a more convincing bottom after an hour or two of sideways consolidation.


  3. Christian

    You could initiate a position here purely based on Sentiment, but weekly stochastics look rather horrendous which tells me that scenario 1 is likely in play. We’re gonna get a nice bounce up and then hopefully a correction down into an ICL, which will give the naysayers another opportunity to buy.

    That being said.. Gary: The PPT has kept mother market propped up on her feet longer than I care to remember so why would this time be any different? Why would they ‘allow’ for a deeper correction later next month..? I don’t see it.

    1. Gary Post author

      They don’t seem to mind a 38% correction but they don’t like it going any deeper than that.

  4. Goild


    “Wow. I am really shocked. I want to believe you are just making this stuff up but I do think you are telling the truth. What you are talking about is not trading though. It’s a gambling addiction and I hope you have the sense to stop soon and think seriously about what you are doing. Goild, I don’t generally have more than one or two trades on the go at a time and these days I check the charts every which way to Sunday before I make a final decision. Its not stressful that way. What you probably need is less firepower and more practice aiming”

    I got a good laugh out of your comment. Thanks.

    I tell how things are so I can contrast.
    I should say that I am a serial trader. I do not have head for having multiple day trades at the same time.

    The system seems to be working according to my personality.

    Yes, it might be an adrenaline addiction, but as long as it works, it works.

    No one gives me say the $960 of today for free. So there is a reason to keep doing it.

    I am also on the look for swing trades like in December.

    I will reflect on your aiming suggestion.

    We will see at the end of the year.

    1. Robert

      Goild I hope you sold your Jnug today. The selloff has started as I anticipated. Jnug is only good for scalping for the next few weeks. Jdst should be back in the 20s I think

  5. Robert

    Haha and they are shorting right here at the beginning of the turn Gary. I believe anyone shorting here is gonna feel alot of pain in a few days. I added to May SPY calls yesterday. I’m gonna try and sit tight this time Gary, I have missed out on some big moves trying to day trade. Scenario 1 looks more likely, I think we need a deeper correction first until SPY goes to 2450+. I would say from here 2410 is doable before the next crash

  6. MegaMind

    Looks like Jnug 2.60 and Jdst 23.50 on this run… the question is can you hang on while the bulls and bears fight it out…

  7. Paul

    Gary your Call is late… you are chasing… trying to play catch… Your equity call should have been in November 2016… now would be the time Exit that call… not do a wait and see hope for one more bump up… the Risk- Reward is too high… better to sit this out… Weekly CCI have Sell Signals on $SPX, $INDU, $COMPQ… your Slow Stochastics also have Sell Signals… it’s not too late to change your opinion… I have no problem staying on the sidelines… good luck with your calls… p

    1. Gary Post author

      If this turns out to be an intermediate cycle low then I’m not chasing, in fact it may be one of the best timed trades I’ve made in a long time.

      Most people won’t recognize the bubble phase until most of it has already passed. Just like most people didn’t recognize the baby bull until most of it had already passed.

      The Nasdaq is going to at least 10,000 so to say I’m too late is absurd. We missed one intermediate cycle to make sure that nothing was going to change with the Trump administration. It hasn’t so it’s time to be aggressive and ride the rest of the euphoria phase in the stock market.

      1. Paul

        I agree the market will be much higher year end… but at this time I think you are Chasing a move that started in November 2016… your right it could be a mild pull back… But the CCI weekly Sell Signal is strong… I won’t say your call is not in a brief realm of possibility… do due too the low volatility in the major equity markets… but still for me the Risk-Reward is too high for me to move off the sidelines… In my opinion… if you had made the call in November 2016 for something like UPRO, TNA , TQQQ you would have been telling people to Exit or take money off the table… consider that you are Chasing 5 Month run… it’s looking a little tired… I found you much more interesting in December when you were interested in the metals a bit more off the bottom… I made money off that move and prior to you my big money makers have been TNA and TQQQ and sometimes UPRO… I have not traded an individual stock in years… so my interest is in leveraged ETF’s… what I follow… are DRN, FAS, LABU, ERX, TQQQ, TNA, UPRO, JNUG… short of a market that trades ETF’s 24/7… the biggest issue to new traders is overnight risk… for that reason I rely upon weekly charts and day charts… to be sure I interesting in something that is already trending… in reading your articles… that is one difference in approaches we have… I like new turned Trending Markets… and you try to catch Reversals or Bottoms… which require a Higher- Risk- Reward than I am willing take… I learn that lesson years ago about trying to pick bottoms… I rather miss a few points and be in early in strong trending market… because I will know on the same day whether or not the entry was correct or not… Trending Markets vs Picking Bottoms… oversold can stay oversold for a long time… Warren Buffett’s- 2 Rules… 1 despise loses… 2 always remember rule number 1… Picking Reversals or Picking Bottoms have a greater Risk- Reward…

        1. Gary Post author

          If you think the market is going to be much higher by year end then what in the world are you worried about?

          That just makes no sense.

          1. Paul

            I am not worried about a thing… I am just on the sidelines until I see the correct entry… weekly charts are not showing that this is the time to buy… at least with UPRO, with weekly CCI down below 100+ why buy now??? when you missed the move from November… and now $SPX about 5 weeks in a less than 3% from the top pull back and you think that makes sense… sure you will get a quick bounce if you are trading… I would like to see the $SPX down at least 8% from the high of 2,400 not just down 3%… UPRO month of March has been a Gap n Crap from it’s Pivot of about 92.75 within the first week of March it hit R1 has been drifting down ever since even trading briefly below the Pivot… all this after a long run up from Nov 2016 and prior to that UPRO was stuck trading under and into the Pivots for about 2.5 months prior to Nov 2016… the Question is why Chase? Correct Entry should be part of trading plan… I just don’t throw money at the market and hope… that is gambling… there are casino for that…

  8. Goild

    We may have many falling knifes in the upcoming sessions.
    The knifes would be very sharp an doubled edged.
    Do not get caught, and if you are cut, stop the bleeding immediately.
    Draw a support line in the chart, once JNUG crosses it, it is an immediate sell.
    Set a ticket to go short.

  9. macman1519

    Another reason markets will be going up is the Trump affect has been renewed. Trump and others are now saying Health care bill will pass shortly due to pressure the freedom caucus has been recieving for blocking HCB. Therefore, bill may pass, stocks continue up!!!!

  10. Pedestrian

    Here is an excellent chart of XAU from the Goldtent folks showing a back-test fail and strongly suggesting the next move will be down. The other major features of the chart is that the large head and shoulders pattern is looking to be confirmed and now the lower channel has been violated to the downside since mid-month. The failure of the chart to break back above the channel is ominous for the bull party. Its pretty much self explanatory so take a look before jumping in to buy gold stocks today.

    1. bluelagoon

      Thanks for sharing Ped – very interesting. Besides seeing the JDST opportunity on Tues, I really can’t tell which way miners will break out of this triangle…..charts look quite muddled to me at the moment.

    2. dboz

      Looks like we are already retesting that trend line today. Could set up for a failed breakdown and on the verge of a massive bullish up swing. Still sitting all in, full on bullish positions for me.

  11. Goild

    Good morning,

    What to say? Let us make money today!
    Exert caution. There are many ways the rats will take your money.
    Good trading to all.

  12. Steffmeister

    Stockmarket: Top in June or Q3

    Gold: Sideways down into summer solstice, end July, end August a couple of different timelines here.

    Bonds: A top in Nov/Dec 2017 followed by great turmoil in markets.

    End of Turmoil -> THE GOLD TRADE, back up your truck !!!

  13. Don

    Gary. the market is going your way this morning but oil is moving away from your $40 target. BTW, you have company now with your bullish stance, Dennis Gartman just announced that he is bullish on the SM. Oh-oh.

  14. 1970confused

    Hey gary,

    Contrary to what many people believe on this forum, Gold and Silver are holding up pretty well on this run-up. Gold is above its 200 wma and consolidating in the 1250’s and Silver is even better, well above 18$ and just moved above its 50 and 200 wma. Plus we a have a Golden Cross on the weelky charts in Silver!! I think many people will be caught flat footed when the miners start playing catch up to the metals. Maybe the big boys are creating a camouflage in the miners to confuse everyone??? JMTC

    1. Pedestrian

      Ignore the Golden Cross, JMTC.

      That is possibly the most useless indicator ever dreamed up and its given far too much weight by the gold community. If you examine it carefully on the weekly chart you referenced you can see that the reason there is a cross in the first place is because silver rose beginning in December 2016 and the 50 DMA followed it up afterwards.

      It is a lagging indicator. Lagging by the average 50 days/weeks or months it is calculating.

      Half the time you see a golden cross its already time to sell and get short which defeats the entire idea behind it. There are better indicators that might change your mind about how bullish silver really is right now. But the Golden Cross is definitely not one I would put stock in even if it does periodically look like its matched up with a bullish change.

  15. 1970confused

    The USD maybe a buy on the daily but according to D7 of Grok trade the dollar is asell an the weekly and monthly charts!? Good for gold and silver….

  16. Don

    I now have 300 shares of PPLT (platinum) and 2000 shares of SOXS (inverse 3X on semi conductors . . The platinum is for the longer trade while SOXS is for a short term trade. I am also quite short the SM. I am either going to win big or lose big. How’s that for disclosure?

  17. Don

    I am bullish on the metals . I sold my silver yesterday and put the cah into platinum. Time will tell if the switch was an error.

  18. Don

    I have to wonder when the Facebook farce is going to end. They produce practically nothing and the fad is getting old fast. My grandkids don’t even have it on their phones and my account is effectively dead because I rarely look at it anymore. I mean, does anyone actually look at the ads?

    1. Pedestrian

      The whole world knows by now that its just a massive piece of invasive spyware where you get to volunteer all the details of your life for prying minds and internet voyeurs. But they keep using it anyway. Because it brings us all closer together. Ha!!

      1. macman1519

        You guys are old farts that have blinders on, facebook is the best thingvever for families and friends living in other cities, countries continents period. Dream on as each year more join around the world. Get away from your charts and smell the coffee, people now keep in touch through facebook especiallyvwomen, geesh, with comments like that from u guys, i wonder about all the other things you have said!!!

  19. Ed

    I don’t know about you guys but it seems to me like the market is dead. No movement whatsoever. Quiet too quiet for either bulls or bears, SM or PM.

  20. Goild

    Yeap, the market is dead and making money is very difficult.
    I made, lost, made, lost, and now I am +$833 for lunch.
    So I quit for the day here.

    Good trading to all.

    1. JJHarmen

      Goild, stop already with the ” lunch money” ridiculous claim every single day. It doesn’t matter if the markets is hot or dead, like today, you make money for lunch. We are not gullible children .

  21. JJHarmen

    I am short the stock market but worried that Gary may be right and I am going to lose. How is this guys track record ?

    1. Paul

      So far his track record is less than impressive… been following this blog since Aug/Sept… he has good intentions… but seems to jump the gun early… or in this case… I see his call as just plain chasing the market… the move started in Nov 2016… for major indexes… $SPX but Gary Oracle’s.. was silent during that move… going after Metals/Gold… which he eventually got right… but he started Telling people jump on the Gold Train around August/September until December… so if go month over month… Gary eventually found the bottom… now would be the time to be exiting that position and telling people to move to cash… he might get a quick run up… but weekly Indicator… CCI is in Sell Mode… if the $SPX pulled back at least 8% it might be more interesting… but a move down from of a new high of around 3% is not worth the Risk- Reward… so if don’t mind following his Buy Calls down for 3 months or more before he gets it right… it might be ok for some… but for me that tells me his methods are flawed… but not for nothing I like Gary and his Blog… so for those he with half a brain and can read behind lines… the blog is breath of fresh air and good contrarian indicator… but like anything else do your research and have stops in place… take care- p

  22. 1970confused

    The Gold community???? How about the whole investing community uses it as a reference only and holds much more merritt on the longer term charts.
    Ped a GOLD BEAR on this forum the first one to say if gold doesn’t do this and if GDX doesn’t close above 24$ then that ” i will be shorting the miners later” “just bailed” flip flopping all the time.
    The minute someone posts something positive on the metals or miners you are all over it like a fly on shit bashing!!!!

    1. Pedestrian

      Bailed equals “sold at the top”.

      JDST dropped like a rock right after I got out. That my friend was almost perfect timing so I don’t know what you are blathering about. Actually I am waiting to buy back in right now with JDST hovering near 14.58 but I am holding to make sure it does not fall below the days low.

      Look like nice double bottom but we shall see. I would like to buy at 14.45 if I can get it.

      Anyway, about the golden cross; well feel free to use it but just know what you are looking at. I would not have mentioned it except that indicator causes more trouble than its worth. Just think about it for a second. It is based on a average of prior dates closes. That means it lags and therefore cannot be useful for predictive purposes. Anyone using it to guess the future is making a mistake in my opinion.

      I wasn’t telling you this to get on your nerves btw. I was trying to be helpful. But ignore if if you wish.

    2. Paul

      two faced might come to mind… but I would not read much into that… much of the flip flop comes the impatience and lack of an Investing or Trading Plan… I personally won’t short… I agree with Gary on that with Shorting the market… not for nothing his long term ideas are pretty close… in terms of the market being much higher year end… I don’t know if I would call it the start of a Bumble Phrase… I just want to see a decent pullback first before going higher… ***On Gold I think it will be ok… I don’t buy individual stocks… but the Mining ETF’s should catch up in time… some of those support levels are good guides… I myself like Pivot points… everyone has there own way of managing risk… if I were going make a swing trade in something like UPRO or gold ETF… I would probably do a day trade or two… with one of them if strong being held as a swing trade… for now I have been on the sidelines for a good 3 weeks plus… waiting in cash is good- p

      1. Pedestrian

        Paul, if you don’t ever short then how can you have such strong opinions on the subject? I would contend that until you have practiced selling tops you will never be able to really understand the mechanics of the stock market because your focus won’t be in the right place. Its a Yin/Yang thing where you cannot have one side working well without the other. It seems to me most people lose at trading because they are willfully blind to the other dimension or unwilling to accept the inevitable…which is that things that rise also eventually fall.

        Trading is far more fulfilling once you stop taking sides and just buy/sell according to what is moving regardless of the direction. What’s your objection to that?

        1. Paul

          I’ve been in the Market since 92/93… I have sold short before… but shorting is not my thing… especially with leveraged ETF’s which is only thing I play around with… I have no problem walking away from the market for a year or two if I don’t like it… I did so well day trading all the way up to the summer of 2007… my typical position happen after 1pm and I usually sold in the close… when that simple method started fail… I just stopped trading and left the market… I worked in the financial district in Boston at the time… and at the around the same my good friend did the same thing… about a circle of 4 or 5 good traders I know all did the same thing in 2007 … I knew hedge fund managers who in early 2007 told me they had made some much money they were closing and was told to very careful going into 2007… I did not return until late 2009… make a few trades in stocks… but had been leaning towards EFT’s… but leveraged EFT’s took awhile really catch my interest… in 2010 is when I really got back into the market… in 2013 I moved from MA to MI and stayed out for most of 2013… I did not need the money or the risk… I have tried shorting TZA in the past and did ok… but did not like… I mostly like UPRO, TNA, TQQQ, FAS, LABU, DRN and since following Gary blog I’ve traded the gold ETF JNUG… but currently just sitting on the sidelines… I just don’t like inverse ETF’s… I respect the Trend both ways… I also don’t do options… mostly I am just an old school swing trader… of the ETF’s I have had to take small loses in have been TQQQ n TNA… but that’s been just about over a year… in each case I was daytrading with daily Pivots… and thought I was hot shit again… cost me a little over $100 and $200… and made take pause and to realize not to go back to day trading for the sake of trading… so my preference is to wait for a good swing trade… which is how I made most of my money… shorting is not for everyone… but I do respect a downtrend- p

        2. Paul

          Ped… I lived and worked in financial district… it is in my blood… that is why I such strong opinions… Quote for night: If you don’t stand for something you will fall for anything… I know where I stand with my trading style… it works… it’s not perfect… and when the market is not healthy… my method keeps me on the sidelines… What’s my style: I like the 20MA, 50MA, CCI daily and CCI weekly and Pivot Points… both daily and monthly… no one on this blog seems to talk or even acknowledge pivot points… take care- p

  23. macman1519

    You guys are old farts that have blinders on, facebook is the best thingvever for families and friends living in other cities, countries continents period. Dream on as each year more join around the world. Get away from your charts and smell the coffee, people now keep in touch through facebook especiallyvwomen, geesh, with comments like that from u guys, i wonder about all the other things you have said!!!

    1. JJHarmen

      macman sounds like he might be young snowflake in addition to being a rabid, Trump hating liberal. Many are asking if the snowflakes are ever going to become real adults cause they have no real world experience.

  24. 1970confused

    Gold Dec 2015 lows 1046$, now at 1252$; Silver Dec 2015 lows 13.65$ now at 18.25$; GDX dec 2015 lows 12.40$ now at 23$; GDXJ Dec 2015 lows 16.90$ now at 36.50$. Now that a positive anyway you look at it. Ped lets see maybe you can muster up something negative from this?!

    1. Pedestrian

      Of course. Gold is still in a bear market. That’s a fact. All you are quoting me are numbers related to a bear market rally or two since the bottom in December 2015 but it does not mean anything in the big picture.

      1. Christian

        What are you talking about dude?! Gold bottomed in Dec 2015, shot up to $1375, made a higher high and a higher low in 2016, and it’s currently consolidating under $1300. That’s not bear market behaviour.. it’s a bull market in the making, Lol! Wake up and smell the roses πŸ™‚

      2. Paul

        Common Ped who is kidding who??? Gold in Bear Market? Weekly CCI on $GOLD at 118+ and on a Weekly Basis has made a Higher High and Higher Low and who knows… by week end you might just see $GOLD take out the March high of 1264… sure gold ETF’s and miner ETF’s are lagging… and yes Gary says near this Level where the Sell Off starts and another leg down begins… Keep in Mind when Major Trendlines are broken at some point and time the Bear Market is over and everything Reset… sometimes it hard to let go of a Bear Mode… take care- p

        1. Pedestrian

          Look at a monthly chart. Gold has never broken above its falling channel in 6 long years.

          This is still a bear market. Who are YOU kidding?

          1. Paul

            I’ve seen the monthly charts… they lag a bit behind the weekly… I respectfully disagree… year over since the bottom in 2015 we have had a higher high and high low in 2016 which tells me the Monthly and Weekly Trend have changed and the Weekly CCI confirms this… going forward to 2017: we have a higher low and still in process of seeing if we make a higher high… sure I will give you this… we might stall somewhere between 1280 -1300… but I don’t see a lower low this year (taking out last years low)… if the circumstances change I would concur that $GOLD is in a Bear Market… you might not like it if you are short or something… but not for nothing $GOLD has been making higher highs and higher lows for last 3 weeks… including this week… at least give credit where credit is due… and understand for 2017 $GOLD has been Bullish… and yes I am guilty of exiting my positions on the Run Up… now I am on the sidelines… take care Ped… good luck with your trades

        2. Christian

          What a chuckle.. A loud mouth that doesn’t understand the basic fundamentals of technical analysis Lol! Good luck trying to explain it to him Paul.

          1. Paul

            ok he understands… and I understand why he might think that with a monthly chart… but they very much so lag the weekly charts… the Monthly CCI is above -0- but going sideways… ideally it should move up 100+ and take out 1377 to make a higher high to fully confirm a new bull market… it going to be tough getting through 1280 – 1300 which is area of Risk – Reward concern… which is why I am on the sidelines… I want to see if $GOLD can take out the March high of 1264… but yeah it’s a Bull market until the Bears can take out Dec low and keep it down… p

  25. Don

    Ped: You have claimed that the Canadian dollar is a leading indicator for oil. Well, the CD has been going down for six days (from it’s most recent peak) while oil has been going UP since it’s bottom 5 days ago. Kinda blows that theory up. There is a correlation but it is usually the dollar reacting to oil, not leading it. Just another example of how little you really understand.

    1. Pedestrian

      The correlation is not tick for tick Don. If it was wouldn’t trading be just easy as snap?

  26. 1970confused

    I think after a 6 year bear market its time they let the metals and miners move up . Can you imagine if the Stock Market was in a six year bear or the financials were continuously being manipulated down, there would be hell to pay.

  27. Don

    Ped, I see JDST dropped below your 14.45 target to get in. Ok, tell us now, are you in or are you going to wait to see if it goes higher before you proclaim that you got another winner?

  28. Don

    Ped: You are right. I missed that uncharacteristically short post on your part. I am not in the miner ETFs (penny stocks, yes) so we do not have opposing positions. Good luck.

    1. Pedestrian

      Thank you. This trade is for tomorrow since I doubt it moves much today. It could even retest the area of my buy. I did not buy the Fibonacci number btw. I realized my mistake when price dropped below the target and bought the lower channel line instead. Hope it works out. Up 14 cents already! πŸ™‚ Hurray!

    1. Pedestrian

      Good work. Just saw price break above the falling channel line so it looks like a confirmation the trade is a good one. There is never guarantees of course so I don’t celebrate until I make the sale. Gold is turning down though so that’s a positive.

  29. Bigdaddy

    What is up with the markets today? DEAD! Maybe I shouldn’t have sold my mining ETF yesterday. I need to be more patient. My stock market short is losing but I am not going to sell and maybe make another mistake.

  30. zkotpen


    I got short GDX at 3:55 p.m. — not as good an entry as yours, but I’m confident it’ll play out just the same.

    (I was snoozin’ during the best entry πŸ™‚ )

    1. Pedestrian

      Welcome to the dark side. Playing the short side is a tough racket since most of the time the market (and the people who populate it) are against you. Just look at the comments some people write when I am selling metals! Speaking of which, is Tulip gone? I think somebody did some serious housekeeping around here.

      Well done, Gary.

  31. Goild


    Oh, it makes sense.
    Though I just saw the daily candles and there is the possibility of this being a miners bottom.

  32. zkotpen

    … but I see Ped’s 14.30 entry in jDST.

    Sure, miners could bounce to the 61.8% fibonacci retracement of the drop early this week — but that’s only a little bit higher. Could also gap down tomorrow.

    Simply put, gold & GDX look weak. When I pulled up the JDST chart to check Ped’s entry… JDST looks poised for a move up.

    20 day SMA is my first target on GDX, though I believe it will go lower than that this week.


  33. Robert

    Still long on SPY out the money calls. Maybe tomorrow is the day for a big move. Jobless claims. GDX drop and SPY pop?

  34. isavage

    Stayed out the market today to watch.

    Don’t trust there’s not a second sharp leg down. Would be typical of TPTB get all the “muppets” conditioned to BTFD and then pull the rug. Haha

    Metals and especially miner’s continue to look to be compressing to a rip up or down. I’m holding the last of my under water miner’s, so will be happy for that trip to be up πŸ™‚

  35. Christian

    Folks.. I’ve been following Gary for just a little over 3 years now and everytime I pop in for a visit there’s always one goomba that has to take over the entire blog with his rhetoric. Last time I was here Alex Popovici was on here posting his play by play every 5 freakin minutes, always arguing against common sense Lol! God bless that slippery little rascal πŸ™‚

  36. Gary Post author

    Higher highs and higher lows. Gold is in a bull market.

    That being said I think it’s stuck in a triangle basing pattern while the stock market continues its euphoria phase.

    I’m going to predict it’s going to be at least another year before gold really gives us the big surge we are looking for.

    1. ras

      Forget pms. After 15 weeks down trend, oil complex is turning up along with weekly macd. The surge in oil stocks could help spx in powering higher than your initial estimate. Spectacular surge in gush in just 3 days. Lots of momentum behind the move. Weekly chart worth checking.

  37. zkotpen

    Thanks for the chart MegaMind.

    I will post my own GDX targets after another cup of coffee or 2 πŸ™‚

Comments are closed.