So what just happened this morning is called an undercut low. There is nothing to predict such a move. All cycle analysis, or any type of analysis, goes right out the window. There was nothing significant about any economic data today to have a move like this. All that happened to trigger this move was Hawkish words from a Fed Member. That's it! Not even Janet Yellen can create a move like this out of thin air. So people will call this type of move, "manipulation" or "manufactured". I would agree 100%. Really makes me angry because its nothing short of theft. Only if you sold to those Bastards. But, there is nothing that we can do about it except move on. About two days ago, a veteran cycle analyst, Gary Savage, said he "would not be surprised to see an undercut low in gold." What he was referring to was big money creating this move so that people freak out and sell them their shares at a very low price. That way big money gets to buy at a phony deep bottom. Its real in that it is happening as we speak but phony because it should have never happened. So, since I have seen this before, and since the veteran analysts have seen this before, I will not sell and try to leverage down. I will weather the storm. It sucks short term. But the rally that should follow should be quite good.
Now we really are in overbought territory. At first I thought we could not make it down to fill the huge gap but then I saw that the trend line they are using is the one that connects 7/20 and 7/25. That absolutely would fill the gap. So if you guys are lucky enough to be waiting for a bottom, I personally would buy at $10.65ish just to be safe. And now we have a large gap above us. and yes that will get filled, rather quickly I think. I am going to say by Thursday.
Because of this BS manufactured move, my price targets for the next couple weeks have changed a little bit. I am saying we get up to $18 by Friday. For the next couple weeks, I am Bullish Jnug
Now we really are in overbought territory. At first I thought we could not make it down to fill the huge gap but then I saw that the trend line they are using is the one that connects 7/20 and 7/25. That absolutely would fill the gap. So if you guys are lucky enough to be waiting for a bottom, I personally would buy at $10.65ish just to be safe. And now we have a large gap above us. and yes that will get filled, rather quickly I think. I am going to say by Thursday.
Because of this BS manufactured move, my price targets for the next couple weeks have changed a little bit. I am saying we get up to $18 by Friday. For the next couple weeks, I am Bullish Jnug
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by the way, that new blue resistance line up around $24 might be nothing. I just threw that on there trying to figure out where we might top. could easily shoot past that for all I know.
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for Virtualfax
funny you should be talking about a potential H&S
hopefully this chart loads up
funny you should be talking about a potential H&S
hopefully this chart loads up
تعليق:
I do not think we hit the neck line this time. but that seems reasonable for the drop I am thinking will come end of October. or even beginning of December. Almost a mirror image if you think about it. Quick sharp pop here next two weeks, then down lower. Then another lower pop and light drop, then pop in December because of no rate hike? and then huge drop because of clearness of rate hike for Feb 1. Starting to all come together and make sense. Just not today!
Tremendous volume today.