SalN

SalN

Here is the Natural Gas 4 hour chart. I still think we are in a grey area and some type of confirmation should be waited upon. We could very well be in a zig zag corrective pattern. We will know in the next couple days. If it drops again into that red zone then I think I will buy UGAZ again. On a side note....if by chance UGAZ dropped below the red zone then...

SalN Updated 

Natural gas is simply killing me. I left up the possible cycles just in case for some strange reason, NG dumps into mid January. But it sure does not look like its going to dump. It appears that we have started that winter rally. If this is the real winter rally, then a brief pullback would be a great opportunity to get back in this thing. NG left a large...

SalN Updated 

It appears that a new gold cycle started a couple weeks early this year. With the slight higher high from the consolidation, that is what appears to have happened. I am still expecting a zig zag pattern so we should start to consolidate next week back down to the multiple moving averages before pushing up to finish the E wave. RSI 10 is very overbought and...

SalN Updated 

SO we did fill the gap. I am thinking that we will touch that red line which corresponds to a couple bottoms last year. The question is whether or not we finally start the winter rally or simply set up to fill that last gap. Today a subscription that I get, had an update for XLR (the general energy ETF). Their chart showed the general energy fund dropping...

SalN Updated 

There was a massive volume spike on Friday and we are due for another intermediate cycle low. Usually that means that a top will occur a couple days later. I think I will watch the RSI. There is a massive bearish divergence from many months ago. Once the RSI reaches the red line, I feel it would be safe to short this. This could be the correction many have...

SalN Updated 

Gold and Jnug are following along nicely. I do not think we are finished quite yet moving up. Maybe by Monday or Tuesday and then I see a nice drop for another 1 1/2 - 3 weeks. I think the bottom will be approximately the 1220 range for Gold. SO for Jnug....I'll guess that will equte to the low $8 range. Now what should come next is a very nice rally for a...

SalN Updated 

I am not going to go into depth as I have in the past. I am frustrated like many have been with the weakness in gold and with this sideways chop. This is the worst kind of market to trade. That being said, I see the yearly cycle drop about to occur after we complete the short lived minor "e" wave in the wedge that we are in. I have my price target for gold. I...

SalN Updated 

Yep. The title says it all. I have found evidence to support what I believe is future upward price movement over the next 2 months. After many many hours of exhaustive research, I can say with 100% certainty, backed up by years and years of historical data that......IT GETS COLD IN THE WINTER! Just some light humor. So I have two price targets for this...

SalN

With the price breaking through that blue upper trend line on Thursday, I am considering that a crack in the armor. We still have a week and a half to go before the rate hike on the 13th and so it appears that we can reach the 2700 range. Especially with all that dip buying that happened today. Yep...the Central banks really want a rate hike so they are not...

SalN Updated 

SO I do not see this as the start of that correction that we have been talking about. Now that we have gotten into November AND now that it appears that the rate hike in December is at 100%,....and the Fed absolutely wants a rate hike....I am thinking that this monster will not be allowed to make its correction until the rate hike. The Fed wants the hike and...

SalN Updated 

I am not sure if we can fill both gaps on Ugaz but it is possible. I am pretty sure that we will fill the first one. Once we get to the bottom of that first gap, I am planning on looking at NG futures to see if it also filled its gap. If not then I might wait until the bottom gap is filled. After that UGAZ would be a huge buy from my wintery perspective.

SalN Updated 

The B wave appears to be almost complete. I still hear a lot of pros saying that this is the surge that we have been waiting for and that we are only going higher now. We will see. That being said I do believe that we will drop into the yearly cycle low. There really isn't anything to add. My previous gold post from a couple weeks ago is still how I see it. ...

SalN Updated 

I never post a chart for this stuff but it is in such an incredible buying opportunity location right now that I just had to. There are so many huge gaps above and this is looking like such an easy wave count AND there has been two days of record volume in this last week alone that I cant ignore this. I really think this is at near absolute bottom. If it did...

SalN

I think we are almost there. The charts tells my thoughts on this. So it is looking more like the 1st week on November that this tops and then we get that long awaited correction. SO I labeled this as "short" because there is no point in my opinion to post another chart until it happens. IT should be quite dramatic. Everyone is going to call for the end of...

SalN Updated 

If we are still in a triangle consolidation with everything being larger 3 wave structures, then the small b wave that we are in should not have been completed yet and we should move up to at least the 100% measured move to 1320 and possibly a little higher to the red zone. After that I really really feel that jumping into JDST or DUST is going to pay bigly. I...

SalN Updated 

For the Gold chart, I am anticipating a little more of a drop to test the blue trend long term blue downtrend line. It appears to m that we have been making a series of three wave patterns since early 2016. We may very well still be in a triangle pattern. The pink line with a pink arrow at the top of the page marks the top of both 2016 and 2017. The blue...

SalN Updated 

SO I have been hearing a lot about the long awaited (and very past due) market correction that analysts have been anticipating since August. SO lets assume they are correct and that there will be a large market correction in October. What can the charts help predict. Well first of all, a true ICL needs to break the low of the last DCL. Since it appears we have...

SalN Updated 

Lets us just focus on the Blue arrows first. I drew those because I am anticipating that we get a little closer to that trend line before we bounce. Next Fridays options expiration average is around $18 as of Friday. So I have not bought Jnug yet. I would feel more comfortable buying next week if Jnug shows that it will bounce off that trend line. I am...