1. jacob2

    Thanks for the detailed explanation of your trading strategy. Strongly agree, everyone needs to find there own way. After decades of this I’m for buying devastated individual stocks with insider buying and …. waiting. Currently Energy is the focus for obvious reasons. Thanks again…..appreciated

  2. Steffmeister

    I think the Stockmarket has very little fuel left in the tank!

    I am planning to sell all my common stock positions in June!

    When Q3 arrives …

  3. jskauai

    Thanks Gary for the words of wisdom. So, IMO, I believe buying physical silver with a looong timeframe will be profitable. The Treasures of the Earth documentary gives me some clues. This documentary http://www.pbs.org/wgbh/nova/earth/treasures-earth.html is an excellent watch. I found it on Netflix. What I found amusing is that the producers of this documentary display a severe case of gnosiophobia along with asimiphobia maybe resulting from their superiors bouts of chrometophobia. Please watch this documentary and see if you don’t agree…Enjoy!

  4. Pedestrian

    So here is where we are at today:

    Since mid April the Euro has risen roughly 4 cents while Yen/dollars has dropped approximately the same amount and murdered the ardor for gold in the process as it was sold off into a bloody pile of pulp. Given Macrons win in France today we should therefore expect to see the Euro strengthen to the next nearest major resistance line near 1.12 (a minimum target) while the Yen/$ falls back near .86 over the next while.

    That implies continued weakness for gold if not deeper outright declines. At least briefly.

    Some people have already written that the euro is already fully priced though and the response should be fairly tepid as the market opens which might imply the Yen will also move modestly. The Yen however is moved by the Nikkei so if global stock markets go on a bullish surge higher then gold will definitely suffer as the Nikkei pushes higher.

    Well as it turns out the Nikkei is looking pretty strong right now and here is where it gets interesting.

    Do you all recall my prediction for Nikkei 20,000?

    I have little doubt you forgot. This idea of mine is based on the futures chart naturally which is what I almost always use. So take a look at this Japanese index chart and particularly the two small peaks located in the middle of December 2016 and the early part of January.

    Those two little candles I refer too are not much to look at since those peaks are very small, but they are indeed what I am using to identify the next major Nikkei resistance level from which point I anticipate the stock market will turn down.

    And if you are looking at that same chart for the period of December until now you cannot help but notice that the pattern will very definitely become a confirmed expanding wedge (megaphone) once it reaches the point of contact which is almost precisely 20,000.

    (Provided the index turns down sharply from that level of course).

    Well anyway, the good news is that when Nikkei 20,000 is reached that should be our entry point back into the gold market. As the Nikkei falls (and Yen/$ rises) gold will go back up. How far it moves will really depend on the depth of the market correction that I think is coming. A big correction could be surprising bullish for metals, a modest decline will yield merely modest results.

    So as we are just 250 points shy of Nikkei 20,000 as of the Friday close this is worth watching. Our Nikkei index could move that much in a single day and tomorrow might just be when that happens. Happy trading to all. If the Japanese market rises to 20k and reverses I would take that as a very bullish short term buy signal on precious metals.

    And very conveniently our precious metals group are badly oversold right now so a bounce is predictable anyway. I just wanted to explain my reasons mechanically for why a bounce could happen and the signs I think you should be watching for.

    Kind of funny how that Nikkei 20,000 idea worked out isn’t it? Hilarious actually. At least to me….

    1. Pedestrian

      The other scenario is that the Nikkei blasts right through 20k and destroys my idea completely as resistance is crushed in which case ignore all of the above and save your sorry gold portfolio because it will be going down like the Titanic.

      1. Gary Post author

        Maybe a few people stubbornly refused to accept what is happening (an ICL decline) but I think most got the hint. Do you really need to gloat over a few die hard gold bugs?

        1. Pedestrian

          I wasn’t gloating Gary. Not in the slightest. Only confirming a theory I have mentioned here many times before. But if you need to know, I really have no idea how this will turn out. Whichever way it goes though I hope I will be ready to rise to the challenge.

          I get to gloat if my idea was correct though. Count on that happening.

        2. Pedestrian

          Anyway, I think you might be reading me wrong. Yes, Gold-bugs piss me off but I am still a hardcore metals enthusiast at heart. Its just the idiocy of some of them and all the hostility they have flung at everyone over the years that sticks in my craw. So I blast them from time to time in retaliation.

          They just don’t get that you need Yin to have Yang and what goes up must also go down. Instead they are infuriated by even a small mention gold might have a fall from time to time as if you swore in church or something!

          Once the simple idea of night and day is accepted though its so much easier to invest in this sector. So let me allow you into my head a little with a chart I have not bothered to link before. And when you see it you will understand exactly what I mean and why its important that gold keeps falling during this summer period.

          So here it is:

          What you are looking at is truly a thing of beauty for the gold community.

          It is the Japanese Yen/ dollar chart on a monthly level and that pattern you see is identified as a falling megaphone. And it is indeed a MASSIVE megaphone formation that will most likely complete its final lows process with a double bottom near the .82 level.

          In order to get there the Yen/$ will have to drop at least 7 more cents and during that time gold (and gold mining stock) are going to be smashed to smithereens. But once there the time will be ripe for the bounce that is implied and it should be a real doozy with Yen rising more than 60% over the course of the next few years.

          Should gold similarly rise 60% (or more conveniently a .618 fib) as Yen goes back up then it will eventually peak at almost exactly the same price it last saw in 2011 when 1900 dollars was breached for the first time. So that is my prediction Gary. That gold will double-top within 5 years time exactly where it peaked in 2011 and we get a big nasty gold price crash after that.

          In other words, we NEED the Yen to fall back to .82 or thereabouts in order to have the final bottom on the Yen completed and the sooner we get there the better it will be for the gold bulls in the crowd. Because once yen starts trending back up, gold will follow for many years to come.

          And that’s why I don’t care that gold prices are falling right now. Or that the yen is going down.

          Its just the necessary Yin that will make the Yang happen on time.

        3. dboz

          I guess I have been diagnosed with the gold bug. Have not sold yet. Much more down side and I may have to.

          1. Gary Post author

            You should get your chance to exit and get out of the way when gold bounces out of its DCL. Once price reaches overbought on the 5 day RSI the rally usually rolls over pretty quickly and heads back down during the declining phase of the intermediate cycle .

            So I would advise not getting caught on the slope of hope during the next bounce. It will not be the beginning of the next leg up. It will only clear temporary bearish sentiment and prepare the way for the final leg down into the ICL in June.

    2. jake

      The hubris of pedants that think being able to re-cap the market makes them an analyst.

      1. Pedestrian

        I just handed you a timing chart on gold with an obvious cycle pattern written all over it. That is a chart neither you nor anyone else on this site has ever discussed and its implications are extremely bullish for gold but you (like most gold bugs) are just too stupid to see its significance.

        You guys just never change. In the decades I have been at this I have never found a way to get through to any of you whether I discuss the positive or negative aspects of metals. It must be something in the DNA of your type.

        Bunch of Neanderthals.

      2. Christian

        I believe the word you’re looking for is: POMPOUS 😊(Not to be confused with the word POMPONS)

        Best described as — affectedly and irritatingly grand, solemn, or self-important, imperious, overbearing, domineering, magisterial, pontifical, sententious, grandiose, affected, pretentious, puffed up, arrogant, vain, haughty, proud, conceited, egotistic, supercilious, condescending, patronizing.

        The worst part about it is.. He still doesn’t get it, or ‘see it’ in his particular case.

        1. Pedestrian

          Of course. Thanks for the correction. When I wrote gold bugs were Neanderthals I really mean to say what you wrote above. Good catch buddy. Thanks for the helping hand.

  5. Pedestrian

    Is tomorrow the day the market blows through resistance and smashes the last of the stock bears to dust?

    It might just be. You do the charting and, draw your own conclusions. First off, find the primary support line at the bottoms located in 2003 and 2009 and when that is done locate the parallel line near the current top which just happens to be identified by the peak of 2007. You will notice in a second that the Eurostoxx index is just a few points shy of topside resistance right now and a breakthrough will be extremely bullish for that market.

    It would also signal that gold is about to get smashed again. Sorry to have to tell you.

    1. Gary Post author

      More likely we get a sell the news event and a bottom in gold for a DCL. As I mentioned in the video I think it’s still a little too early for the public to pile in and drive the final parabolic stage.

    1. Gary Post author

      Hussman is a perma bear that has been trying to call the top all the way up.

      We have to have the bubble phase before this bull tops. The public has to pile into what they think is a sure thing.

      When you start hearing eveyone in the restaurant around you bragging about how much money they’re making in the stock market then we will be getting close.

      We should se at least one of the indexes rally 100% or more in a year or less.

        1. Gary Post author

          Bear markets need a catalyst. They don’t just materialize out of thin air like many of the perma bears want to believe. Invariably bear markets are caused by one of two things or a combination of both.

          The bursting of a bubble and or a spike in energy inflation. Oil is the life blood of the global economy. If the price of oil rises too fast and too high the economy grinds to a halt. This is what caused the recession in 74, 80, 91 and was a big contributing factor in 2000 and 2008.

          In 2000 and 2008 the bursting of a Fed induced bubble added to the down turn.

          We don’t have either catalyst in play right now, plus central banks are incredibly accommodating.

          So while we will get corrections from time to time when sentiment reaches extremes, we don’t have to worry too much about a new bear market at the moment.

          Whenever you hear someone predicting that gold will reset hundreds or thousands of dollars higher in the blink of an eye, or that stocks will crash 50% instantaneously you can ignore it. This isn’t how markets work. How many times has gold reset hundreds of dollars higher overnight? I can’t think of one instance ever.

          How many times has the stock market crashed 50% in the blink of an eye? Never. In fact over the last 80 years or so we’ve only had 2 real market crashes. That doesn’t seem like very good odds to me.

          Like I always say: What’s the point of betting on the end of the world? It can only happen once…

          1. GMoney

            Gary: The 2008 stock market crash did not materialize after a 2000 style Nasdaq parabolic. Maybe we don’t need to form a parabolic before a serious downturn.

          2. Gary Post author

            What do you mean? The real estate bubble was one of the largest in history.

            Then it was followed by a huge parabolic move in oil prices. We had both components that drive a recession.

          3. dboz

            Housing is in a bigger bubble now than 2007. I have many neighbors all selling now as the prices they are getting is staggering. Multiple houses for sale on the same street. Houses only last days. For sale signs everywhere. Bidding wars. Multiple showings at once. Panic buying.

            I would also say the auto industry had a huge bubble that is now bursting. Car prices are insane. Trucks cost as much as some houses. Cheap money fueled low interest loans, those are dried up now. To keep payments lower, most cars are now leased. This leaves millions of cars on the secondary market. The residual values are horrible. Manufacturers and lease companies are seeing upside cars coming in by the millions. People that do buy take 70+ month loans just to keep payments affordable. Most people don’t keep a car that long so they come in underwater on the next purchase. Now higher rates are going to hit the brakes even more as affordability tanks. GM is sitting on a million cars in inventory. Rebates are 5 figures on some vehicles. The layoffs are going to start tolling in very soon. As the auto industry goes, so does our economy.

            So, if you don’t think we are bubble phasing now, you just aren’t looking.

          4. ARends

            I respect your opinion and would there look at diverse POV and share for a diverse and informed argument to assist all.

            Your example does not stack up to the point made above for me if I understood your answer. The parabolic was not in the SM you mentioned but a sector if you have look at the instruments itself. Like it could be in Bonds (or another sector as catalist is true) but not in SP 500, Dow through history before each crash to your previous description. The parabolic stage to your description does not seem the case but rather from march 2016 seem to repeat rather as dependable seen in history in my POV. The point for me is just the reliaBILITY of your argument. Maybe I am missing something?

            Here is a very good counter argument to your as a guide before a crash for me. Considering your evidence to parabolic description a year and point from a 100% run (from where) and the argument of exhaustion gap indication before the SM crash looking at SM graphs. The gap really seems more reliable.

            Looking at this post, we see a very interesting picture over past 70 years looking at these SM (alll US)and something indicated is the exhaustion gaps happening before the drop (which we just had). Looking at the graphs and parabolic conditions in the graph we are clearly at a point of a drop, with conditions and indicators with the exhaustion gap as before. There information that a few top investors has already started shooting with billions (clever money) about 10 years back it was published that a one world currency would be in before 2018 and are sure the conditions are set for them to be on target. Interesting it is indicated the gain after the gap before the drop is. This minimal gain after gap and range from 5% highest before down. Looking at the graphs and evidence and considering your POV. https://www.hussmanfunds.com/wmc/wmc170501.htm

  6. jskauai

    For your Sunday reading pleasure…

    An Ode to the 800 pound Gorilla

    AS I PASS through my incarnations in every age and race,
    I make my proper prostrations to the Gods of the Market Place.
    Peering through reverent fingers I watch them flourish and fall,
    And the Gods of the Copybook Headings, I notice, outlast them all.

    We were living in trees when they met us. They showed us each in turn
    That Water would certainly wet us, as Fire would certainly burn:
    But we found them lacking in Uplift, Vision and Breadth of Mind,
    So we left them to teach the Gorillas while we followed the March of Mankind.

    We moved as the Spirit listed. They never altered their pace,
    Being neither cloud nor wind-borne like the Gods of the Market Place,
    But they always caught up with our progress, and presently word would come
    That a tribe had been wiped off its icefield, or the lights had gone out in Rome.

    With the Hopes that our World is built on they were utterly out of touch,
    They denied that the Moon was Stilton; they denied she was even Dutch;
    They denied that Wishes were Horses; they denied that a Pig had Wings;
    So we worshipped the Gods of the Market Who promised these beautiful things.

    When the Cambrian measures were forming, They promised perpetual peace.
    They swore, if we gave them our weapons, that the wars of the tribes would cease.
    But when we disarmed They sold us and delivered us bound to our foe,
    And the Gods of the Copybook Headings said: “Stick to the Devil you know.”

    On the first Feminian Sandstones we were promised the Fuller Life
    (Which started by loving our neighbour and ended by loving his wife)
    Till our women had no more children and the men lost reason and faith,
    And the Gods of the Copybook Headings said: “The Wages of Sin is Death.”

    In the Carboniferous Epoch we were promised abundance for all,
    By robbing selected Peter to pay for collective Paul;
    But, though we had plenty of money, there was nothing our money could buy,
    And the Gods of the Copybook Headings said: “If you don’t work you die.”

    Then the Gods of the Market tumbled, and their smooth-tongued wizards withdrew
    And the hearts of the meanest were humbled and began to believe it was true
    That All is not Gold that Glitters, and Two and Two make Four
    And the Gods of the Copybook Headings limped up to explain it once more.

    As it will be in the future, it was at the birth of Man
    There are only four things certain since Social Progress began.
    That the Dog returns to his Vomit and the Sow returns to her Mire,
    And the burnt Fool’s bandaged finger goes wabbling back to the Fire;

    And that after this is accomplished, and the brave new world begins
    When all men are paid for existing and no man must pay for his sins,
    As surely as Water will wet us, as surely as Fire will burn,
    The Gods of the Copybook Headings with terror and slaughter return!

  7. primetime

    “More likely we get a sell the news event and a bottom in gold for a DCL. As I mentioned in the video I think it’s still a little too early for the public to pile in and drive the final parabolic stage.” –Gary Savage above at 7:36 PM eastern time.

    It seems as though your changing your tune after watching the futures market. Did the wind change directions after you and ped were having a little mocking party earlier? Mocking gold bugs with your minute to minute calls…classy as usual.

    We will see what happens…no predictions here, as you know I am one of the old turkey ” idiots” with a long term outlook that has risk tolerance.

    1. Gary Post author

      Watch the video again. I clearly said that I don’t think stocks are ready to deliver another leg up yet. And I even posted a video noting that gold is ready for a DCL.

  8. bginvestor

    Still early evening on a Sunday, but looks like a gold bounce is happening which is good since I’m positioned in PPLT, SLV, and USLV.

    Euro down / Dollar up , which is driving SM down, which is driving gold up..

    Let’s see if this evening trend holds..

  9. LiesandDamnLies

    I find myself agreeing with Ped’s latest analysis. I agree with his Yen target of around 86-87 and his Nikkei target breaching 20000 and then reversing. Go figure.

    I sold my Aussie gold miners on 20 April. They are currently down 10%.

    As I wrote on May 3 I’m targeting for gold to put in a bottom late in the third week of May. This may match Ped’s yen and Nikkei goals. My Aussie miners could be down around 16-20% of what I sold them for.

    My theory has gold running up to early July ( in a similar run as the Mar to April rise) then reversing again to late August early Sep. Then a long gold bull run (with wave 2 and wave 4 reversals along the way) into early 2018.

    Time will tell.

    cheers Lies

    1. Pedestrian

      Nikkei futures hitting 19,920 this morning. Just 80 points shy of my target. We could have our answer today.

  10. LiesandDamnLies

    It was always going to be a strong day for the Nikkei today. There were public holidays for the last three days of last week so the Nikkei didn’t trade. However the Yen was traded and dropped further in those three days.

    Todays action was going to be a catch up. Its currently up 2.44% which is more than I anticipated.

      1. LiesandDamnLies


        In my opinion, after today’s action, I think that the Nikkei will rip through 20000 and head towards 20400- 20700 range before reversing. I also suspect that after my pull back to early July happens that the Nikkei will head into late August/ early Sep to again reach the 20400 – 20700 levels. Forming a short term double top and in the long term triple topping pattern. Yen in a similar reverse pattern.

        That is the near perfect set up for a long fall in the Nikkei and SM stocks across the board. And as a consequence a long bull run in gold.

        Anyway that’s how I’m playing it. Putting my money where my mouth is. My cycle sequence has been working since late Feb.


  11. Robert

    Gold might not even get an overbought rsi reading. It could jus Trae sideways from here before the next leg down

    1. Gary Post author

      The bounce out of a DCL should break the cycle down trend line.

      That being said I’m not convinced gold has completed its DCL yet. Sentiment may need to get a bit more bearish.

      The 50% retracement is at about 1220. That could be a potential target if the election results don’t end up triggering the DCL. 1190 would be the 62% Fib below that.

      1. ras

        French election a non event. Macron election was widely anticipated. gld probing for a low. Bottoming is a process. Process takes time.

        1. Pedestrian

          Agree with that Ras. Good call. No reason to rush and catch a falling knife.

  12. Dday

    Gold bounced around oversold daily RSI for a month November to December while it continued falling, possibilities… crystal balls not working again. French election has led to sell the news buy the dollar, complicated picture short term..


  13. JJHarmen

    Not much happening today. The stock market is being held in a narrow range and the VIX is down over 5%. I guess no one is too worried now the the status quo will remains intact in France.

    1. Dday

      It is Monday, and as you said vix is down 5%, maybe we will see stronger moves tomorrow..

  14. MegaMind

    Looks like there could be another attempt to run higher in miners before ICL… may 2-3 more days of consolidation…

  15. Bigdaddy

    The frogs just elected an idiot. I thought the stock market was going to take off if Macron won. I don’t see any opportunities this morning. Gold is dead, crude is dead, the SM is dead.

  16. Bigdaddy

    Is pedestrian bullish or bearish on gold? I read his earlier posts and I am not sure.

  17. Don

    Good afternoon to all. I was too busy to play stock market this morning but it doesn’t look like I missed much. The French election appears to have been a non-event for the markets except perhaps for the dollar which is reacting positively. Go figure.

    I see there are nearly twice as many decliners to advancing stocks . Markets should be down more than what they are but look at Apple. It is up 2.7% and keeping the indexes from falling. Apple is up 6.8% in the last 30 days but that is nothing compared to Google’s 13.5% hike over the same time period. These are bubble like performances.

  18. Bigdaddy

    Crude oil is down and oil stocks are up for the second day after I sold all my oil positions. Do the opposite of what i do is all you need to know about how to make money. No charts needed. And what does the low VIX reading mean anyway? Is the market going to shoot up like Gary has said it will (after some downside first)?

  19. Pedestrian

    Yen/dollars has broken below its support line a little while back . Not by much but its not really bullish for gold and most assuredly implies golds declines are not finished yet. So take note and keep an eye on your yen charts for the next while. The day is not over at least. So the close will matter here.

  20. dboz

    The tactics in the War on Gold are:

    1) Randomly and unpredictably attack the gold price in the futures markets, producing large price whipsaws, investor losses, and a generalized spirit of price uncertainty, danger and concern; over time, make existing and prospective investors view the market as a corrupt casino rigged against them, causing them to capitulate and leave the field;

    2) Employ the most advanced, covert “Black Psychological Operations” (PsyOps) methods, customized for the financial sector by the CIA’s Division of Psychological Warfare, the Fed, the Treasury, the ECB and the BIS, to destroy gold sentiment in the west. As part of this campaign, use the Mainstream Financial Media (MFM) to conduct a continual propaganda campaign denigrating gold in every respect, destroying interest in it;

    3) Fraudulently overstate official holdings to create the illusion of massive supply overhang;

    4) Sterilize investment funds by steering them into non-auditable paper proxies (e.g., ETFs);

    5) Weaken, then destroy the dealer network by killing product demand, spiking dealer costs (e.g., required hedging against relentless price volatility), causing large unhedged losses, demonizing dealers as money launderers and crooks, and wiping out profitability / business viability;

    6) Financially weaken miners via crushed prices, making them dependent upon bullion bank (DS) financing and debt, and forcing them to comply with bullion bank orders;

    7) Paint phony price charts that enable the “financial services industry” (stock brokers, investment advisers, bankers, etc.) to make gold investing appear stupid, and talk people out of buying gold, particularly in physical form; if this fails, sterilize investment funds by steering them into phony, paper gold;

    8) Create a marketing blackout throughout the west (which is the Achilles’ heel).

    CREDIT: http://investmentresearchdynamics.com/the-traitors-who-enable-the-deep-states-dying-war-on-gold-contd/

    #1 has my name all over it.

  21. nautique99

    I think today is a great opportunity to buy PM. GDX last Thursday’s low holding. Gold holding well even though USD/JPY higher…but also overbought, should reverse very soon. Big move coming. GDX 30$ by mid-July August.Good luck to all.

  22. jake

    GDX has a couple gaps from last December at 20.24 and 18.73, maybe one more selling climax in the metals for it to at least re-test 20.92?

    1. nautique99

      GDXJ broke the upper trend line of a descending chanel. I think the lows are in. I think the next wave up will be similar to the one we had last year till August. GDX should get close to last year high but not exceed them.

  23. ras

    Nice reversal candle in nugt at the close. Opposite reversal candle in dust. Seesaw begins between nugt and dust, nugt moving up and dust moving down?

  24. Pedestrian

    Yen falls another half percent in the small hours of the morning and is now teetering at the edge of .88 as it makes it known its intention is to keep falling. Gold can hardly be expected to stay above 1220 today as a result and so that’s my expectation as this melt continues to torture the minds of metals enthusiasts. Because declines in the Yen often result in a rise for the Japanese averages it seems obvious that the softening of metals prices won’t relent as long as stock markets keep marching higher. This has become an untradeable market. An interminable and boring waiting game offering little in the way of hope for either bulls or bears. Even the usual analysts seem to have fallen asleep and hardly an article of interest has appeared in the gold space in the past weeks. Just the same old recycled blather that as usual amounts to nothing. Unless we see some kind of market pullback gold looks destined to just keep slowly grinding lower as no impetus is in sight to generate fresh buying power. It is a sorry win-less state of limbo where all our minds are condemned to staring at meaningless chart patterns. If the bugs cannot rise to the occasion, the general public sure won’t get excited. Time to just close up shop until summer has come and gone.

  25. Dday

    USD/JPY showing heavily overbought. Silver massively oversold so I would expect a bounce soon, I had a look at the daily chart, I couldn’t see a 17 day down stretch for the 10 years, even the last big crash wasn’t this prolonged. Gold support at $1225 already bounced off, agreed should be tested later.

    1. Pedestrian

      This silver decline sure kicked the snot out of the COTS record long position. That was 100% predictable and long overdue. And yet some twit analysts kept saying it was going to be different this time and the bullion banks were going to get their arses kicked and see a day of reckoning. Hope never dies does it? Too funny for words. And that massive multi-year cup and handle pattern that some claimed to see on silver has come to naught. Also predictable since silver has been following a mirror pattern, not a falling channel like gold. However in this case silver did break down from its resistance line (established from the peak in 2012 to present). And in the process we got a lower low on a double-top that was extremely negative. You can see this on the COT positioning chart. There is a clear COT double-top that has now broken down and implies that interest in silver could be on the wane for much of the remainder of this year.

      1. Dday

        Agreed silver will be weak for the remainder of the year, but thats not to say there wont be a bear market bounce from here as cots have come down significantly from the highs and daily technicals are massively oversold. I never deal in certainties only possibilitys…..

    1. Dday

      Yea but you were calling for a DCL last week saying you were seeing the usual overbearish sentiment/comments, you said either the jobs report or French elections would spur a rally. Both turned out to be negative for gold….But agreed on the weeky

      1. Gary Post author

        The election was the last potential event trigger to generate the DCL in gold. Instead it looks like it generated a cycle top in the euro and a cycle top in the dollar. A strong dollar is rarely bullish for gold.

        This is why I keep stressing not to play the long side during the declining phase of an intermediate cycle. The surprises come to the downside.

        Right now way too many people are ignoring that advice and trying to catch a bounce, or they are trying to call the bottom.

        1. jake

          Europa’s troubles are not over yet, only a matter of time before gold and the dollar will march forward together.

  26. Dday

    Is the dollar strong because of Euro or JPY. Not saying I know just curious, as I said before the USD/JPY is approaching overbought levels, should see 115, then a retracement,… Currencies are complex right, surely its more than just euro vs dollar?….

  27. Ed

    USDJPY or any other currency translation ratios they do not mean a jack. All markets are manipulated by New York Fed’s trading desks. Currency, PM, Equities they are all controlled by New York FED. When all Central Banks coordinated their speed of printing press Currency ratios of USDJPY EURUSD USED BY don’t mean a jack. Don’t believe in whatever your emojis if they happened to be charts cycle currency. There should be only one question to be asked yourself. Do you or do you not believe the Fed is the absolute ruler of the market? With that question answered you will be either hopelessly crushed or cluelessly rewarded. And truly I don”t have the answer myself.

Comments are closed.