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Miners

GDX - Bull Market Soon to ResumeWe are nearing a bottom in the gold miners in the form of a wave 2 of the full wave 1 move up from the January low. The recent price movement on Friday gave us the setup for the final leg down as a v of C which can take the shape of a 5-wave impulsive move down or an ending diagonal. The bottom should be struck between the 50% and 61.8% retracement of the larger impulsive wave 1 high of 31.79, aiming for the 22-20 range. Once the correction is complete, we should then be prepared for the larger degree wave 3 move upwards that will take the GDX to at least 50.
AMEX:GDX
by Eboard10
2
GDXJ - Ending Diagonal In ProcessI'm seeing wave C possibly shaping up as an ending diagonal to complete wave 2 of the larger degree correction. If the price movement follows the blue count on the chart, we should be going down in 3 waves a-b-c to form a bottom around the 50% retracement of the larger impulsive wave 1 high of 52.50, potentially going a bit lower. This would be an excellent opportunity to catch the following impulsive wave 3 up which will very likely take the GDXJ all the way up to 100 and above.
AMEX:GDXJ
by Eboard10
HMY - Correction Nearing an EndHarmony Gold is following the correction seen across the gold miners. I see two similar counts playing out over the next few weeks: Blue count: the whole wave C is an ending diagonal and we are currently in wave iv of the final move down. Red count: an alternative count would see us fall to lower lows beginning of next week to complete wave iii of C and then make one last bounce upwards before the final leg down. Either count would have HMY bottom within a month or so and potentially take us down to the 2.60-2.40 range.
NYSE:HMY
by Eboard10
HUI - Daily (GDX, GDXJ)Miners have been a tough trade lately, especially for bulls like me that had become accustomed to shallow retraces. I'm treating this bounce as a corrective rally unless an impulsive move takes out HUI 286.05 strongly. Targets for yellow waves (3) through (5) will have to wait for confirmed completion of wave (2). White wave 3 of (3) could be expected to reach 463, hold 332 in wave 4 of (3), then stretch to at least 645.75. Remember, the placement of labels are meant to suggest price targets, not timing. Similar patterns are possible on the GDX and GDXJ ETFs as well as a large number of individual mining stocks.
NYSE:HUILong
by nick.holland78
3
XAUUSD: Gold longs firmply planted above resistanceGold seems to be headed for the two targets on chart, to be reached before September 23rd. This seems to match my outlook for equities, which appear to be heading back down to the yearly lows, as depicted by Tim West's yearly forecast, of a sideways market. We can fade the sentiment extremes once reached, which is the ideal trading strategy for the rest of the year. Volatile markets are tricky to trade, but we are presented with a variety of opportunities, both long and short. I'd reccomend having gold in your portfolio for the next 2 months. You can enter a position here and factor in a stop loss under 1275 (let's say, under last week's low, which will work for any instrument, like miners, gld, futures, etc). You can add to the trade once spot gold breaches the 1340 mark too. Risk half on the additional entry, and use the same stop loss. Good luck! See you at the top. Check out my updated track record here: pastebin.com If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year. Cheers! Ivan Labrie Link to Tim West's chatroom: www.tradingview.com We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask. Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
FX:XAUUSDLong
by IvanLabrie
2
Gold in relation to S&P 500 and the other indexes. Secular BullMy research has led me to many places. One of them, has led me to follow the path that gold follows. In this quest for knowledge, I have met many individuals if which one of them has been of great help. Quant (TR), I thank you for everything, without your guidance it would have taken longer. Never said too much, but just enough to peak my curiosity. Now I understand the famous quote by BaronNathan Rothchild. That said, I present to you a series of charts that will illustrate my findings. I have strong evidence to support these claims, but I will only use charts. The rest I will leave to you to find. We tend to think we are in bull markets because the indexes rise. We also think we are in a bear market because the same indexes decline. It is the business cycle the one we refer to. There are many other cycles too. However, we are not truly in a bull or bear most of the time. We have been moving sideways since 2000, at the peak of the previous secular bull market which started in 1983 during the Reagan years. Yes, we went up and down, even had a financial crisis, but we never went above previous peaks, specifically, the SPX year 2000 peak. It was only until 2013 that we punctured our previous year 2000 SPX high that we started a new secular Bull Market. It is 2016 and we approach what appears to be a collapse of epic proportions in the indexes and new highs in gold never before achieved fuelled by fear . Gold 3000 some claim... I do believe that fear and uncertainty that drive gold's price up. Gold want to be cheap, after all, you cannot buy anything at the store with it and only serves as risk aversion instrument or an investment in these times of low yields (NIRP, ZIRP). That said, this chart is simple. I marked with the Fibonacci Time zones two points the rest mark themselves. It is curious how we humans behave, indeed. 0 line represents a time shortly after the Nixon shock and when gold reach the first peak at almost 708 USD. I proceeded to mark line 1 precisely when gold started to change trend just before the start of a the new Secular Index Bull Market. Notice how every line marks an important phase in the indexes and how line 8 marks the start of gold's new bull but short lived bull market just as the indexes started a new secular bear market. Line 13 I do not put much attention, but you can see more or less where it is...now compare it to SPX. I am convinced that this coming month will be the end of the rise in gold. It will reach a target of $1526 as per my estimations. "The price pattern reminds you that every movement of importance is but a repetition of similar price movements, that just as soon as you can familiarize yourself with the actions of the past, you will be able to anticipate and act correctly and profitably upon forthcoming events" - Jesse Lauriston Livermore. "I never buy at the bottom, and I always sell too soon" - Baron Nathan Rothchild "If a I am right, then I will profit. If I am wrong, then I will profit too because I have this crazy idea that keeping an open mind is very important, to me, and my wallet" - Hector Garcia
FX:XAUUSD
by ShPro
Gold Miners Trying to Hold it up! $GDX$GDX Looks to me like it is going through a 2 and half week to 3 week consolation cycle before continuing its rally, that started with a breakout and subsequent bull market end of January, start of February. (Which was right about when I got into trading more seriously.) I am unsure of which way to go here. This Brexit thing has been an incredible learning curve for me on my travels. But also rather hard to place any trades. In-fact, I have only been able to place minor scalps (not my strategy, I tend not to do this. Again, learning curve.) on FX markets and a couple of futures lost me some profit. I like Gold stocks for obvious reasons, (economy, safe havens. etc.) So the miners index is an interesting one. I would wager the long side long term. Short term? It needs a bit of a reality check before we see further upside. I expect other markets to retrace from their losses soon but not for long. So Gold will (maybe!?) continue it's uptrend for the rest of 2016. I am strapping in for a bumpy one.
AMEX:GDX
by Onions