A Market Walking On Eggshells
Updated
The Dow finished up on Friday, but off it's high as selling came in late...notice the sincere break of the trend line last week and Friday's action came back to kiss the under line..odds are that this week coming is down.
Just a few days until the big show, the outcome has already been decided, they are selected, not elected.
Whatever the outcome of the theatre, the masses still believe change will happen to improve their lives, only disappointment ensues.
Expect volatility this week, any negative event will trigger fast moves to the downside, watch your position size.
Gold sold off towards the end of last week, a correction is due...a sell signal triggered.
PM's are a long term play, we have been bulls for 20 years, gold has risen over 35% this year, silver around 40%. This bull has a fair way to go before peaking, we are only in wave 3 of 5...expect a minor wave 4 pullback now and a huge spike coming by years end or so. The coming collapse will drive gold and silver to unseen levels, our target for gold in Australia is $10,000 an ounce, that could be shattered, and up to 15K or more, silver target of $300, perhaps high hundreds or $1000 and ounce...the catalyst will be contagion.
We stay short the Dow, prepare for the unexpected this week.
Appreciate a thumbs up, good trading and God Bless you all!
Just a few days until the big show, the outcome has already been decided, they are selected, not elected.
Whatever the outcome of the theatre, the masses still believe change will happen to improve their lives, only disappointment ensues.
Expect volatility this week, any negative event will trigger fast moves to the downside, watch your position size.
Gold sold off towards the end of last week, a correction is due...a sell signal triggered.
PM's are a long term play, we have been bulls for 20 years, gold has risen over 35% this year, silver around 40%. This bull has a fair way to go before peaking, we are only in wave 3 of 5...expect a minor wave 4 pullback now and a huge spike coming by years end or so. The coming collapse will drive gold and silver to unseen levels, our target for gold in Australia is $10,000 an ounce, that could be shattered, and up to 15K or more, silver target of $300, perhaps high hundreds or $1000 and ounce...the catalyst will be contagion.
We stay short the Dow, prepare for the unexpected this week.
Appreciate a thumbs up, good trading and God Bless you all!
Trade active
No follow through today after yesterday's Trump hype.
The top of the trend line touched again.
We are right in the top price wave up to 44K ish.
Trade closed: target reached
Gaps to be filled down below, euphoria is over.Note
Gold is very oversold, a bounce due.Note
Two daily candles with long tails, a bigger bounce still to come?
Closed out shorts.
Note
Looking to short again at 43650 and 43850ish.
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