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Charts from the Lunatic Fringe.

Zed

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I'm on holidaze wid kids fur tooooo weaks, hence the market has the all clear to descend into total chaos. Me paranoid? NEVER!
 

dpong

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SPX again at a bullish extreme as of yesterday. Everyone run to the other side of the boat, please.


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dpong

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Mound's ABC down for gold looks broken to me.
 
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I thought the stock market made a top. How much more fuel left is the unknown X factor. If Nasdaq takes out its old highs then I will have to be left wondering what happens next, maybe Dow double to 52,k? For one thing I think the commodities like gold should do well as the middle class gets squeezed to the barebones.
 

dpong

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Goldhedge

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It's a new financial rule. What's going up must keep going up. :ouch:
Forget everything else. Just buy the stock market. :surrender:
Trump did say 'Buy the dips"...
 

Goldhedge

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dpong

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Extreme bullishness and complacency in broad markets.

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Goldhedge

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^^ good video

How does one view a futures chart like he does? Is there a free charting site?
 

dpong

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In case you missed it. Nah, you didn't miss it.

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Varmint Hunter

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^^ good video

How does one view a futures chart like he does? Is there a free charting site?
I thought it was a good explanation of the beat down in Au today.
As to your question...I wish I knew the answer. Hopefully one of our experienced traders on this site can help.
 

Goldhedge

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So is this green line now 'support'?? 200 DMA?
Screen Shot 2019-04-16 at 6.01.34 PM.png
 

dpong

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@Goldhedge I think we closed the day right at one horizontal support area. (Draw a horizontal line from today's low back to earlier support in late January), but it doesn't look like strong support to me. I think the line you drew is indeed the most obvious support area, without resorting to fibonacci. JMHO.
 

Goldhedge

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louky

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Gary's video says the banks are dumping illegal limit contracts now....who knew?

Regarding cot data . They were progressively building shorts. Total reversal of trend and positioning with gold ~40 higher? I doubt it, but no one knows with hidden data.
CoT data up to dec 31st released now. Continues to suggest 1278-69 with 1251 pivot still on the table.
 
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louky

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Last CoT was dec 18th and funds were going crazy adding longs, commercials and especially banks getting short. It's reasonable to assume this has continued with goldies $40 higher.

Techs and pattern are very bearish, imo

Hence, I would have to think the next significant short term move is down, with 1330 or so still on the table, but 1296 top of the box.


That said, my orginal thesis was summer july low (came two weeks late august) with april/may 19 being the next significant top before the next big sell off. So it could take a while to play out. Hence why i was still debating.
Got to 1340's instead of 30's before the spanking began

I'm thinking around aprilish is going to be a slaughter on the miners
 

Goldhedge

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So you're saying 1251 looks like critical decision point?
That's what the line is showing... if they keep buying to cover their shorts....


What's your view?
 

louky

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That's what the line is showing... if they keep buying to cover their shorts....


What's your view?
My view is to never look at a gold chart in this range. Because it will always end up with an imaginary line at the numbers posted for years.

1251 is pivot between upper and lower box, always and forever

1251 = key to the box



Bottom of the box 1269


69-[78-87]-96
Lower box top is 1197, with small pivot at 1215
 

louky

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Goldhedge

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Over time it could inch up to 1260-65 thereabouts....

You have way better charting knowledge... I’m just a line scribbler....