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Charts from the Lunatic Fringe.

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if it goes below 1382 or 1383 then throw my chart out the 4th floor window. (sorry for that, I copy and paste and messed up, I need new glasses!)
 
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Zed

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Green ~1% this AM... they seem to think it is over. Are they correct? If so it is more a dip than a correction. Buy the dip in Gold stocks, now that'd be a different world.
 

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Notice the GSR contracting with gold declining?

That is very unusual...

Granted - its a very, very short term thing at the moment - but it bears watching. It is exactly what you would expect to happen if we are indeed in a new bull market. Silver has a lot of catching up to do and this might just be the beginning of that...

But - probably too soon to think such a thing.
 

savvydon

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Notice the GSR contracting with gold declining?

That is very unusual...

Granted - its a very, very short term thing at the moment - but it bears watching. It is exactly what you would expect to happen if we are indeed in a new bull market. Silver has a lot of catching up to do and this might just be the beginning of that...

But - probably too soon to think such a thing.
Even though silver is the typical banker tool to lead beatdowns, break through stops, control sentiment, and PM prices; this latest gold breakout was a very high profile, ‘in your face’ move. I think TPTB know that the whole financial world is watching and decided to lead with gold for the week starting beat down - thus the GSR contraction. I don’t know what it will take to get silver going, but if we see the GSR start to really contract on a PM uptick then you know we are getting into gear.
 
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Zed

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Green ~1% this AM... they seem to think it is over. Are they correct? If so it is more a dip than a correction. Buy the dip in Gold stocks, now that'd be a different world.
~+1.6% now... 3 hrs to trade.
 

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~+1.6% now... 3 hrs to trade.
If 1369 isnt tested this go around...I am pretty sure there will be another test...

Maybe we rise a little - and then have another correction back down to test the breakout?

Who the hell knows...
 

Zed

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Notice the GSR contracting with gold declining?

That is very unusual...

Granted - its a very, very short term thing at the moment - but it bears watching. It is exactly what you would expect to happen if we are indeed in a new bull market. Silver has a lot of catching up to do and this might just be the beginning of that...

But - probably too soon to think such a thing.
Even though silver is the typical banker tool to lead beatdowns, break through stops, control sentiment, and PM prices; this latest gold breakout what a very high profile, ‘in your face’ move. I think TPTB know that the whole financial world is watching and decided to lead with gold for the week starting beat down - thus the GSR contraction. I don’t know what it will take to get silver going, but if we see the GSR start to really contract on a PM uptick then you know we are getting into gear.
GSR 90+ is a screaming precious metals buy, its only been this high one other time in 7 decades. Numbers like that have to be catch someone attention... really.

2c FWIW.
 

Zed

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If 1369 isnt tested this go around...I am pretty sure there will be another test...
Often when a stock breaks north hard it just dosen't look back. I know it is gold but...

...not sure what to expect here.

Buying is solid down here today given the setup.
 

Strawboss

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Often when a stock breaks north hard it just dosen't look back. I know it is gold but...

...not sure what to expect here.

Buying is solid down here today given the setup.
Yup - that was precisely my reasoning in adding some LEAP options last week even though gold is very overbought technically...breakouts dont always backtest...and we have to keep in mind that this is a MAJOR breakout of a multi-year resistance level...

Hell - even at current levels - buying now is pretty close to buying optimally...

I would just feel more comfortable loading the boat if price was to meander about for a couple weeks or so to bleed off the overexuberance as reflected in the DSI...
 

Zed

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Zed

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It's smelling desperate down here.
 

Zed

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BTW... Gold is 12% of the Aussie economy!
 

Zed

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~+1.6% now... 3 hrs to trade.
Held that, so about 50% of yesterdays loss regained. Could have been worse!
 

Zed

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Gold 4HR... I think this chart is untouched from the last 4HR chart post. We are in with a chance here if golds move is actually strong. The trendlines where drawn on a daily and switched to 4HR which is why they are not pin point on the closes.

AU-4H-20190702-1.png
 

Zed

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James Turk is calling a short squeeze to 1575.
 

Zed

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USD anyone?
 

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Zed

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Gold testing the highs and selling back ATM. We need to crack that 1440 area or else we are looking double toppy. There are divergences developing.
 

Zed

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Gold 15 min chart... (same chart switched to 15 min) testing support. Will we fail or swing back and vault the high. Either way it looks to me like this is a topping process. Catching our breath in July and setting up for the end of year run would be a welcome development IMO.

AU-15M-20190703-1.png
 
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savvydon

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Gold 15 min chart... (same chart switch to 15 min) testing support. Will we fail or swing back and vault the high. Either way it looks to me like this is a topping process. Catching our breath in July and setting up for the end of year run would be a welcome development IMO.

View attachment 135219
Ya feels like yet another 'inflection point'. Either we power up and over into Louky's next box at 1449 and start squeezing shorts or we run outta steam and languish for a while above the new support that has been created.

I feel as if what happens depends largely on events unfolding unseen by peons like us.
 

Zed

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Ya feels like yet another 'inflection point'. Either we power up and over into Louky's next box at 1449 and start squeezing shorts or we run outta steam and languish for a while above the new support that has been created.

I feel as if what happens depends largely on events unfolding unseen by peons like us.
There could be another squirt up here but really the daily is losing steam and diverging. That said, in a bullish phase this can go on for a while before it really bites.

The 15min has a bit of a pennant going, if it breaks up we are looking @ 1465 or so.
 

Zed

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Another +~2% today down here in the antipodes!
 

Zed

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Goldhedge

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So here are we today: Horizontal movement within a new band of high low numbers...
 

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Strawboss

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I usually can't absorb all that Armstrong is saying - most of it goes over my head - but he really lost me when he started talking abut global cooling.:don't know:
yeah - Armstrong has been talking about global cooling for quite a while. He thinks there is gonna be a mass exodus from the northern states into the southern states and beyond...within the next few years.

I think he is predicting massive unrest here in the US by 2024 and disintegration of our country by 2032
 

savvydon

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yeah - Armstrong has been talking about global cooling for quite a while. He thinks there is gonna be a mass exodus from the northern states into the southern states and beyond...within the next few years.

I think he is predicting massive unrest here in the US by 2024 and disintegration of our country by 2032
I don’t know, my understanding is this guy has accurately predicted some financial models in the past. When he steps further out into political, social, and scientific models than either he is the second coming of Nostradamus, or my eyes start to glaze over.