162 thoughts on “CHART OF THE DAY – EURO BULL MARKET CONFIRMATION”

  1. tallboy

    These comments should be music to the Gold bugs here including me. But by your guidance on your smt site I was not to stubborn to not switch gears to the stock market this year. Made more money then I have on Gold/Silver in years.
    Thank you and these bloggers get a ton of free information they should use wisely while it lasts.

  2. Nada

    I received a text this morning from a fedex courier;

    “Have you ever heard of bit coins or crypto currency?”

    We are getting closer.

    1. faz

      Yes I too heard a conversation about it today though I did provoke it as I wanted to see if the people in some place I was at had heard about it. Subsequent chatter included how someone apparently gets forced to transfer his btc at gunpoint after making the mistake of disclosing his holding in some restaurant..

    2. Andy

      One of the ladies at work’s son wanted a prepaid visa card for Christmas so that he can buy bitcoin with it….lol yea it’s getting close alright 🙂

  3. MiSmart

    Usually, no one contact me to talk about trading.

    Some weeks ago, someone tried to “sell” me crypto currencies too. They even offered me the Iphone X, if I want to enter. I told I’m not interested in anything, that I’ve no money to invest, but they keep trying… Now, I don’t answer the phone calls.

    We are getting closer…

  4. RTTPD

    I listen to an NFL program on the radio every night. Usually the whole show is football – but last night they were all talking about Bitcoin and had no idea how to buy it.

    Brent Jones, former 49er TE and silicon valley VC, told all the others not to buy it and that was in a bubble and a washout was coming soon.

    Catches you off guard when you think you’re going listen to a show about Football and it turns out to be about Bitcoin and only one guy knows what’s going on.

  6. Gary Post author

    In 1999 & 2000 the idiots of the world were buying tech stocks. They looked like geniuses for awhile, but as it turns out they were indeed idiots.

    In 2005 & 2006 the idiots of the world were buying real estate. They looked like geniuses for awhile, but as it turns out they were also idiots.

    Now these same idiots are buying bitcoin late in a bubble. They will look like geniuses for awhile but in the end they will be the same idiots they were before the bubble started.

    You can light your hair on fire and run through the dynamite factory… you may even survive, but you’re still an idiot.

    1. Andy

      Gary not to mention this is quietly causing a tax nightmare for these traders. As the law stands, a capital gains tax is triggered whenever you sell, use them to pay for goods and services, and when trading for another crypto.

      There are crypto debit cards out there that people use constantly…..there is NO WAY they are keeping track of all those transactions

      1. Gary Post author

        History is full of get rich quick schemes.

        Not one of them ever worked. In fact the opposite is true. In the end they all turned out to be get poor quick schemes.

        1. Gary Post author

          The people that will make the big money will be the ones that control greed, sell their bitcoins before the bubble pops, and transfer that money into the metals market now before it takes off.

          Billionaires will be made in this way. It will be like buying bitcoin when it was under $100. But there will be very few of them, because almost no one is capable of selling the very fast bitcoin market at the top and then transferring into the slow moving metals market at the bottom.

          2. ted

            I never said Gold has no value, but that the crypto’s would be another place for safety and that Gold would no longer be the main hedge.

            BTW, I mentioned DASH as the crypto that will excel. It was 800 last week, 1600 today. I bought it at 200.

          3. taco

            Ted

            Instead of “nice job Ted good luck”.

            Its Ted you are an IDIOT..

            So much hate here.

            just sad

            Taco

            Nice job Ted!! G/L

            I thought we were traders, wishing the best for everyone.

            just saying

          4. Nada

            @taco

            “Ted
            Instead of “nice job Ted good luck”.
            Its Ted you are an IDIOT..
            So much hate here.
            just sad
            Nice job Ted!! G/L
            I thought we were traders, wishing the best for everyone.
            just saying”

            Maybe you should get your facts straight about your little buddy ted. Ted is the one that came to the smt blog and started talking shit;

            “ted
            November 30, 2017 at 12:51 pm
            Gary doesn’t understand the crypto’s. I think it’s funny he posted this chart a few weeks on JNUG going all parabolic in the next 5 years. Not going to happen. Gold is over. The future is in the crypto’s, and the young get it. The stocks doing well these days: marijuana! The young rule and are top of the future. The old folk want to stick their money is gold and energy. How sleepy. The young rule, and will soon rule the world!”

            So go back to playing golf Russ. Your agenda here is to try and drum up subscribers. I am calling you out before you even get started.

          5. taco

            Nada the hate in you, merry xmass…sad sad sad…

            so sad…

            No idea about the Ted issue, only see what I have seen…

            My bad

            IMO Gary does fine

            Tacos

          6. Nada

            You forget liketacos, I can see. You’re a charlatan and are trying to use a platform built by another man’s hard work to perpetuate your own self interest.

          7. taco

            One angry elf, to bad….

            I am just here to learn a little EW…

            I pay my $50 to learn…not to be harassed or bullied…Its getting old…

            Taco

          8. Nada

            Lol, this is the blog side and Gary does not teach EW. In fact he specifically warns against it’s usefulnes. Bullied? Priceless, let’s play the victim card. Your agenda has been discovered before you got started.

          9. taco

            I am generally on the other side, are you there? But I do scan here, if Gary doesnt want me here he can refund my $$$ and boot me…I didn’t realize this was your site NADA…

            DILLY DILLY

            TACO

          10. Nada

            Russ, I speak from experience. This is not the first time you have attempted this BS on smt. We are speaking, why do you keep running to Gary? Gary Gary Gary, like a little school girl.

            It’s not my site, but I will call out snake oil salesmen like yourself. So go back to reading babson if you want money refunded why not send an email to Gary instead of crying on the blog side. I am sure that 50 was spent to try and recruit smt subs to your paid service and now that it’s been exposed, of course you want your money back. What a tool.

          11. taco

            NADA why are you pumping me? I had a couple of short futures positions, gold & euro and wanted Garys take on direction…It was a good confirmation and I covered near the lows…It was worth $50 to me…But you have an issue..not my concern..so grow up and get a life….

            Boom

            Drop the mic!!!

            LOL

            TACO

          12. Nada

            We can do this all day sweets. I could care less about your positions and I exposed you when you posted a reference to your subscription site. So as long as you keep those references off the site, we have no issues. A failed golfer who is still trying to recoup the losses of that bason course.

            Dilly dilly

          13. taco

            NADA Blaa…blaaa blaaa…..Hey open a site your self….than you don’t need to be Garys little biotch….you can police your own site….

            DUN with you!

            Block!!!

            LOL

            Taco

          14. Nada

            Says the little girl who has mentioned Gary’s name all morning, lol. Gary help me, I am being bullied. Gary give me back my 50 dollars. Gary teach me EW. Gary I am shorting good and euro out of their ICLs, help me.

            No Russ, you have been exposed and now you have learned that pumping your service is not going to work. Let me know if you want to hit the greens and I will school you there too.

  7. isavage

    Ok Gary i get your points above. But saying things like “but I’m still not convinced we need a distributed ledger system.” sounds to me like why would you what a mobile phone or Who needs to use email or who would buy anything on the internet in the 1990’s to me.

    If its Blockchain or hashgraph is still not really the point – its the DLT (distributed ledger Technology) that all these company’s are investing in & you are betting they have wrong.

    https://entethalliance.org/members/

    It’s going to be wiled ride that’s for sure from here to there, but no reason why not take some advantage of the opportunity’s. i agree to take profits as you go & have pulled out my target cash amount already that will pay for a 22 acre land investment. so i don’t have any feeling of being some kind of idiot as you would like to call anyone investing in Crypto space LOL

    you your self made out well in the Property bubble you said to us – so were you an idiot at that time as well 😉

    1. Gary Post author

      Maybe, maybe not. When they were invented betamax tapes were all the rage. Did they survive? How about cassette tapes? The Dymaxion house? Intellivision? Diet water (I’m not making this one up).

      One of the great things about the internet is that has dramatically sped up the information transfer process. Do we really need or want a technology to slow it down?

      1. Margret Kopala

        To the contrary, Gary, blockchain/hashgraph/other? speed up financial transaction time so to this extent they meet the criteria of being a transformational or at least a disruptive technology, that is faster, further, cheaper exchange of goods, services and information. Historically, this is precisely what canal, railway and automotive technologies achieved in the transportation sector, and what the internet achieved in communications. Within their respective reaches, they integrated economies. The promise of blockchain et al, is they will further integrate the global economy.

        As for the crypto currencies themselves, increasingly I see these at best as demonstration models and at worst as the final and total debasement of the currency system.

        One way or the other, a monetary reset is inevitable.

          1. Margret Kopala

            And it’s not cheaper, either, yet.
            While there’s an argument being made that the fiat system uses about the same amount of energy, the amount consumed in mining the cryptos is still huge. Hashgraph apparently addresses this but so far as I can make out, it isn’t producing a currency.
            Like you, however, I am very sceptical about any future for the current crop of crypto currencies. It’s the underlying innovation, which can facilitate a number of different types of transactions, that holds some promise. It’s this aspect that could be huge.

        2. faz

          One use case I have heard about for blockchain in business in fact, is disintermediating the big banks who currently eat fat profits for providing letters of credit for import export operations. I forget the details but it was something about how setting up a contract is extremely cumbersome through a bank, which generally will consume weeks or months to recheck a contract even is a small aspect is tweaked by the counterparties. A blockchain based commodities contract was setup by someone i think it was to buy something from Brazil by someone in Europe and the useful part of the electronic ledger mechanism was the ability to refine the details of the contract in an iterative way without a bank taking a fat fee for going through the whole contract with a fine toothed comb for every minor adaptation till the trigger was pulled.
          The thought of starving these parasites somehow is appealing…

  8. Goild

    Good and wise trading day to all,
    We will see how we make money today.
    Despite I said I will not mess anymore with UVXY I am still tempted to get in.

  10. tallboy

    Bitcoin Down 20% in 3 days just a example of the dangers it brings. Yes maybe some will make a lot of money but many more will lose big. We will see pretty soon I feel.

  13. LeilaniFarms

    Good Morning Traders & Investors,

    Looking at the 4H charts for AUD/USD, EUR/USD, GBP/USD, and even the US Dollar Index it looks as though we will be seeing some pretty big moves today through the end of the week.

    These moves are all supportive of a downward move in USD.

    Come on big boys and market makers, let’s move this shit. I want to see a 10% move up in JNUG again today. haha

    1. carlvan

      +1 here; I have to say that I was doubting a little bit the bearish outlook of Gary for DX, but decided to buy JNUG several days ago because indeed gold seemed oversold and kinda confirming the ICL pivot. Happy I did so, I also posted it on the challenge. Thank you Sir !

  20. Nada

    Gold making a move here to try and take out the 200ma;
    aws –profile dev ec2 describe-instances –query ‘Reservations[*].Instances[*].ImageId’ –output text

  21. Gary Post author

    The euro just smashed through that trend line.

    Ped, Sally, Armstrong, etc. have a lot of egg on their faces right about now with their dollar long calls.

    1. Nada

      Well, we have all been wrong with our calls. That’s never been a problem. What you have highlighted here with the references are the ones that tout that they know exactly what is going to happen and then run away and disappear when they get it wrong. Not one, can simply say “I got the call wrong”. Instead they run back to the safety of their bridge and will wait for the next ICL to re-appear.

      Mustang Sally has been an excellent marker for gold bottoms.

      1. Herman

        “Mustang Sally has been an excellent marker for gold bottoms’ LOL, at least she got that marker right 😉

        1. Nada

          Its an expected weekly market movement, derived from options implied volatility data. Its useful to see where smart money has the market going. If you look back one week, you will see that this week the options data priced in an upside move (the range was expanding). That is the most important piece of data to walk away with.

          When we got that move early on, the play was to fade. Typically the movement does not go outside the options data range, but its no guarantee. Three weeks ago it did just that with a move above due to the tax reform – psychological move example.

          1. Nada

            Sorry, its a custom indicator. If you use thinkorswim, let me know and I will hunt down the details with direction on how to import said indicator.

  23. LeilaniFarms

    Nice calls Gary, on just about everything you cover. Seriously, I’ve followed Money & Markets (weiss research), Casey Research, Future Money Trends, Crush the Street, Wealth Daily, and Sovereign Investor.

    I’ve never paid for any of these premium subscriptions but have been subscribed to free daily email newsletters for well over a decade now.

    Even your free Blog here at SMT covers detailed entry and exit points supported by charts and videos. Great job here, I am definitely impressed with your skills as a trader.

      1. vin

        I am in somewhat in a similar boat and I agree with your assessment. I find some of Gary’s call are simply fantastic. I have listened and read some good advisers over the years and of course many make some good calls.

        But, I find without a question that Gary is exceptional so far, probably the best.

    1. Gary Post author

      It’s very early in a new intermediate cycle. I don’t expect an intermediate top until March or April.

  26. Gary Post author

    We got off our stock market leverage a couple of days early but it was close enough. It’s getting late in the intermediate cycle, and while I think we probably still have another push higher into early January it’s now time to be cautious.

  27. ras

    May be. soxl looks better than nugt right now. All dips being aggressively bought. Upside to 164 or better?

  28. Don

    The big cap stocks (AAPL, GOOGL, FB, NFLX, etc) are looking a bit on the tired side. Probably nothing to be concerned with.

    1. Gary Post author

      The stock market is going to be due for an ICL in January or February. But I think we probably still have one more higher high in early January before starting the correction in earnest.

    1. Nada

      lol, my god how many rallies are they going to produce over the same story? Why I mentioned yesterday that I can’t wait for it to be move.

  30. Lenapowich

    I have to find something else to invest in other than gold stocks. Time to diversify. What about the oil stocks? Anyone see a bright future for them?

    1. Gary Post author

      No.

      Be patient. Sometime in January or February you will get a chance to buy at the bottom of a stock market correction.

      Right now the only thing that is at the beginning of a new intermediate cycle is gold. It’s too late to be buying anything else.

    2. rborna

      Lena, why not subscribe to Gary’s service, we are invested in other things Gary suggests and better timing of getting in and out?

    3. RTTPD

      I would be very careful of oil right now. Gary and Alex both did a good job calling the top. I sold my two the morning he said it was time to get out. Since then, both have declined about 25 percent and moving in erratic fashion with no clear pattern.

  31. Gary Post author

    Gold, silver, GDX & GDXJ have all formed weekly swings.

    GDXJ is above the 10 WMA. GDXJ has broken it’s intermediate down trend line.

  33. LeilaniFarms

    It is interesting how GDX and GDXJ have had some great movement so far today with Gold and Silver spot still itching to break out.

    Wonder what happens to miners once Silver and Gold spot move up to only their 50 EMA on the Daily.

    Watching and waiting…let’s go!

    1. LeilaniFarms

      D1 50 EMA for Gold & Silver is 1272 & 16.55.

      With GDXJ already above its 50 EMA I expect it will be a pretty big move (5%+) with the move in spot mentioned above.

      1. vin

        Thanks.

        I just took Gary’s advise and jumped into jnug @14.45, I was overdone if gold/golds even without this gamble.

  34. Jimsee

    if late jan sees a stock sell-off dragging down the miners , that will be the rubber-band trade for 50-100% quickly in the miners imo.

  35. Jimsee

    otm calls on top miners should go 400% from last weeks lows once the ‘need a moving average’ crowd decides to buy….yum yum 🙂

        1. LeilaniFarms

          Please tell me what kind of bullish volume are you looking for as far as your confirmation goes?

          I will post this again while you are here: https://TerrySudlow.tinytake.com/sf/MjIxMzIyN182ODUzNDQ2

          December 13th had the 2nd most bullish volume during the entire second half of 2017. Only 3 days experienced this much volume, and look what has happened since.

          Now we are above the 50 EMA and momentum traders will be hopping in as time goes on. What are you waiting for? 🙂

          1. Bluebellkid

            GDX normally trades 34 mm a day and we are not even half way to that amount with a little over 2 hours left in the trading day. It’s a little better for GDXJ. Volume confirms the move is for real and we may get that before Friday. I do have some skin in the game but not what I would have done had the volume really been kicking in.

        2. Nada

          Volume is always worth factoring in. This is typical of ICL behavior. However, those skeptical traders now will be fuel when they chase later on increased volume.

  38. Gary Post author

    In two days GBTC has lost 35% of it’s value.

    Yeah this is something I definitely want to mortgage my house for to invest in.

    1. Gary Post author

      In the meantime in less than two weeks JUNG is up 30%.

      Like I said: The world is full of idiots. Sometimes bubbles will make them temporarily look like geniuses, but in the end they are still idiots.

      1. Gary Post author

        Ted is the bag holder that smart money gives their shares to at bubble tops. How much you wanna bet he got caught at the housing top and the tech bubble top?

        2. Nada

          Ted says, Gary doesn’t understand cryptos
          Ted says, gold is over.
          Ted says, the young get it.
          Ted says, cryptos will replace the dollar
          Ted says, buying cryptos is like buying real estate in the Bay Area in the 1960.
          Ted says, this time is different.

          ted
          November 30, 2017 at 12:51 pm
          Gary doesn’t understand the crypto’s. I think it’s funny he posted this chart a few weeks on JNUG going all parabolic in the next 5 years. Not going to happen. Gold is over. The future is in the crypto’s, and the young get it. The stocks doing well these days: marijuana! The young rule and are top of the future. The old folk want to stick their money is gold and energy. How sleepy. The young rule, and will soon rule the world!

    3. carlvan

      I would add that there is no way I would invest in such vehicle, even at lower prices, before the current and outrageous bid-ask spread becomes more reasonable. Perhaps the futures will help, let’s see…

    4. Jim Dandy

      Bitcoin lemmings must not have learned anything from the days back in 2011 when Sprotts physical silver etf was trading at a 25% premium to NAV. The writing is on the wall for bitcoin.

    5. BeachandBiscuits

      And I can’t sell Bitcoin Cash on Coinbase because sales are “temporarily suspended”…for more than what I consider temporary.

      Got some from the BTC I owned before the fork, which I’ve since sold for a great profit :-)….but now I can’t sell the free money from the fork…..intuition is telling me some wheels are getting loose in the crypto space (Litecoin founder just sold all his coins too….smells like the ship is taking on water)

  39. Jimsee

    I will point out that juniors (ala cdnx) have been in a 10 year d/t versus gold and gdxj/gld in a 10 month downtrend – that’s a damn long time for each – gdxJ has broken the 2014 high, $cdnx has not yet.

    In this 10 years debt and monetary distortions not to mention geopolitics has been in a one-way bad-news highway to hell.

  40. AT

    JNUG looking very good, almost at break even … I guess this is just the beginning of a good rally up, intend to hold my JNUG position for some time 🙂

  43. Andy

    The Crypto Company (CRCW) stock halted by the SEC after reaching a valuation of $11 billion. Net equity of $3.5 million and sales of $6k LOL….sounds legit. They changed their name to The Crypto Company back in October….I can’t believe people are this stupid.

  45. Americano

    I laugh at the “usual suspects” on CNBC & Bloomberg talking Bitcoin.

    Just as I would hearing Americans make baseball comments……
    While watching a cricket match.

    This isn’t dot com. These aren’t companies with stocks – those are EASY to buy & dump.

    Crypto isn’t.
    Not baseball……,it’s cricket.

    1. Jim Dandy

      I would sell if I were you, getting involved in March of this year is hardly early, you will be a bag holder, holding a bag if magic beans before long.

      You admit to getting played by the metals and miners in the 2011-2015 bull, why are you gping to make the same mistake a second time. You were laye then, you are late now.

      I noticed you necer mention the 2016/ bull run in metals, which made many if us a lot of money, easily covering losses fron taking stabs here and there trying to pick a bottom.

      And putting bitcoin in your IRA, that made me laugh. “And, its gone!”

      If the Litecoin CEO selling everything he owns doesnt open your eyes, nothing will.

      2. Americano

        Jim
        If “you was me” I wouldn’t have gotten into Bitcoin in March. I wouldn’t have even looked.
        I would have just kept with the JNUG victim thing death march.
        I do this to save souls. I was there. You will be reminded of this DAILY in 2018 as I don’t think it starts till then.
        I didn’t choose to stay in England. I got on the Mayflower. Anyone else can too – even if it’s just $100 bucks to see/ check it out. But it won’t just be that.

        1. Jim Dandy

          That a way to pat yourself on the back, getting on the Mayflower and all, but it looks like you forgot to get off and are now heading back to England.

  46. x33e

    Tyler Winkelvoss was just on television declaring that Bitcoin will reach 100,000 and that it has rendered the precious metals obsolete. Sounds like the bell ringing at the top of one market and the bottom of another. Even old “Gold Will Reach $3000 in 2012” Bob Moriarity at 321gold.com is now predicting a “plunge” in gold. Extended bases wring the optimism out of traders. The risk/reward in silver is extraordinarily favorable right now, but most metals traders seem to have exhausted their patience and embraced cryptomania. I think they will regret it. Some guy just got busted for passing off Chuck E. Cheese tokens as Bitcoins, but by the time he goes to trial he might be able to plead that the Cheesies are actually more valuable.

    1. lobster

      Pretty sure you’re not offering Moriarity’s current call in proper context. I believe he says gold may get a bit cheaper in the very near term (he likes to see extreme pessimism before he calls a bottom) but that gold is on the cusp of a big run thereafter.

      lobster

      1. x33e

        It is a classic example of a guy who is constantly optimistic suddenly deciding at the low that – in his words – “I suspect we may have a dead cat bounce and then another plunge to new lows. In any case gold, silver, platinum and the resource shares are about to have a heavy tailwind soon. If we have a crash to new lows, back up the truck. ” If Gary is correct, that truck of Moriarity’s will remain empty. Someone who forecasts a “crash” that will ultimately produce a strong advance is not bullish, and that seems to be the consensus among longtime gold bulls: first lower prices, then a bull market. They are going to have to chase it.

  47. primetime

    I am still milking this energy trade (out of XLE, still in GUSH, and ERX) since April. Asking the blog if I should continue to let it ride and try to squeeze some profit out of these lemons or jump ship and start adding to metal positions I currently have or TQQQ.

  51. Frederic Degembe

    Gary,

    Regarding your possible gold target of $1400-$1450, isn’t that too conservative? In 2016 a dollar decline of 10% resulted in an increase of 30%+ in gold. I believe there is no reason why now there should only be a 15% gold increase for a possible decline of US$ of 10% towards the 80 level by April/may 2018.

    Or do you see more upside after first high in gold?

    1. Strike2

      It’s not linear. If the dollar goes to 80, gold will be challenging all time highs. But don’t hold your breath – 80 by spring is a waterfall decline for the buck. JMHO

    2. RTTPD

      I bought it at 6.85 a week ago and I’m heavily disappointed. I thought it would have cracked 8 by now. It’s also being heavily shorted for some reason….maybe the bond holders?

  53. Strike2

    Short term overbought in GDX – RSI(5) and slo sto are in nosebleed territory. Unless this is early 2016 all over gain it might be good to wait for a pullback to add.

  54. Spanglish Inquisition

    Q3 and BOJ announcements tomorrow. Hopefully both will fuel told. Or they will do the opposite and give another whipsaw.

    My nugt and gdx calls are doing nicely 🙂

  55. Nada

    I am guessing about +141m SOS for GDX and +80m for GDXJ. This was derived from l2 data at close. It has not meant jack lately, but lets see what wsj shows at 5p eastern.

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