Gold is just not cooperating. What is it going to do? I have this feeling that gold has a last trick up its sleeve to throw the last folks off its back before getting set up for the incredible C wave parabolic.
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Tonight I have three charts to share with you. Beginning with the weekly, then daily, then a second daily.
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The weekly is doing something it should not do. The TSI has dropped below the previous low (yellow). On the left side of the chart I show you what is supposed to happen (green). Think of the yellow side as just the opposite situation as the green side. Yikes.
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Click on the chart to ENLARGE
Next up, the first daily chart.
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Gold is still not cooperating. The TSI is falling BELOW zero and it has not stopped. Trust me, this is serious. If it doesn't stop dropping the undesireable outcome will happen.
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Now the last time this happened was last March when we came just a throw away from the C wave trend line. Prior to that, in February, this happened and price did touch the C wave trend line.
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I just don't like this setup, at all.
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Click on the chart to ENLARGE
And finally, this chart is something of a follow-up to my email where I wrote apologetically that GOLD may take a leap off a tall building.
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Well anyway, look at the chart now and see what you think.
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I won't say another word.
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Click on the chart to ENLARGE
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Great charts on gold. Almost everyone else I read says it's going up. It'll be fun to see what shakes out. I'm short Godzilla s&p futures. Just hedging.
ReplyDeleteKeep up the great work
jw
Hey Thanks. Good luck with the short Godzilla futures....smart it is just hedging because I think I should give my TZA to somebody else. Even the Dollar was up rather big today and that could not take the beast down. Incredible. All we need is another of those massive 90% up volume days and I will be toast. Gold - shaking my head. Things are just not right in the kitchen. Something cookin' and it does not smell good. Next couple days should be the show and tell.
ReplyDeleteYes, the TSI (25,13) on the daily (same as I showed on last night's chart) has turned east and is sideways. Faster TSI like (13,13) has just begun to turn north. We still are under the 50 dma (darn it) but did successfully put a swing low in place when we traded higher than yesterday's intraday high. I'd say it looks 80% positive. Not everything is in place, but getting close. A big relief, at least so far.
ReplyDeleteThis site was... how do I say it? Relevant!! Finally I've found something that helped me.
ReplyDeleteKudos!