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Post by simonsays on Jun 24, 2014 8:25:25 GMT -5
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Post by platy on Jun 24, 2014 10:26:11 GMT -5
Gold turned back at Neptune resistance, 1325.75. Important trendline support at 1315-1318.
Node support 1316.25. Really hoping this support area breaks.
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Post by radar on Jun 24, 2014 10:47:42 GMT -5
Platy, what is next turn date (early July) for the metals?
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Post by platy on Jun 24, 2014 11:17:43 GMT -5
I haven't analyzed July fully yet, but there are Jupiter cycles on the 7th and 10th, and a triple conjunction on the 12-14th.
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mp
Junior Member
Posts: 77 
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Post by mp on Jun 24, 2014 13:27:28 GMT -5
Sell Signal on the intra-day SPX has been triggered.. Will it manipulate the ST? Find out.. Same bat time... Same bat channel..
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mp
Junior Member
Posts: 77
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Post by mp on Jun 24, 2014 15:02:05 GMT -5
Sell Signal on the intra-day SPX has been triggered.. Will it manipulate the ST? Find out.. Same bat time... Same bat channel.. Sell signal confirmed by ST. Down trend starts today. |
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Post by simonsays on Jun 24, 2014 15:34:01 GMT -5
Sell Signal on the intra-day SPX has been triggered.. Will it manipulate the ST? Find out.. Same bat time... Same bat channel.. Sell signal confirmed by ST. Down trend starts today. Nice call mp! |
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Post by platy on Jun 24, 2014 15:37:46 GMT -5
Yeah great call!
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Post by simonsays on Jun 24, 2014 15:39:47 GMT -5
And you too Platy! You even pre-called it!
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mp
Junior Member
Posts: 77
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Post by mp on Jun 24, 2014 15:55:30 GMT -5
I need to inform some here who is following PMs on a daily basis. I am looking for lower lows in gold eventually, but looking at the HUI, there is a possibility of a bottom occurring before the beginning of the year. I do not follow the PM's much so I don't know how the HUI affects the GOLD market. Based on its chart though, a run-up has begun. A higher low that doesn't exceed the June low will keep HUI bullish. 
The chart above does not discount the a-b-c-d-e pattern I promote on the GOLD charts, but we should be aware of this pattern even if its isolated to the HUI. 
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mp
Junior Member
Posts: 77
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Post by mp on Jun 24, 2014 16:01:28 GMT -5
Nice to have a date provided by Platy to confirm with my analysis. Keeping everyone on the same page... |
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Post by platy on Jun 24, 2014 16:36:09 GMT -5
FWIW my EW guy is calling for gold to correct to 1280 then C wave up at end of July.
Also he's been loading up on equities shorts the past several days.
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Post by simonsays on Jun 24, 2014 16:44:20 GMT -5
HUI usually leads gold in the short term but since HUI is mining companies, it is ultimately the price of gold (among other things) that affects their profitability. That said, it wouldn't be the first time that gold miners have a large rally in the face of deteriorating fundamentals. I think miners rally from here (talking weekly not daily) and eventually mining fundamentals get into line. I believe we are near the beginning of a nice bull run in the PM space but I will let the price action show me the way.
Equities are way overdue for a huge sell off but despite deteriorating fundamentals it has remained elusive. Perhaps we begin here. There are certainly plenty of signs of topping.
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Post by simonsays on Jun 24, 2014 16:47:06 GMT -5
FWIW my EW guy is calling for gold to correct to 1280 then C wave up at end of July. Also he's been loading up on equities shorts the past several days. I could see 1280. It's the lower level of support before we would have to start looking at a failed trend. Not sure we'll get there though. If we do, I think it will be short lived. |
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mp
Junior Member
Posts: 77
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Post by mp on Jun 24, 2014 17:27:29 GMT -5
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Post by platy on Jun 24, 2014 19:07:53 GMT -5
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