Friends,
With recent news of
GLD from Stan Druckenmiller positioning, I decided to pass the ETF through the Predictive/Forecasting Model and other technical screening combs:
PREDICTIVE/FORECASTING MODEL:
The "Model" suggests a higher-probability decline with the following targets:
1 - TG-Lo = 97.65 - 17 AUG 2015
and
2 - TG-Lox = 86.37 - 17 AUG 2015
Whereas, the "Watch Line = 71.30 - 17 AUG 2015" represents a timeframe conversion threshold (typically a four-fold conversion from current to higher - e.g.: M15 to H1, H1 to H4, H4 to daily, ... Weekly to Monthly).
OCCULT GEOMETRIES:
1 - NODULAR CORE
There is a high-probability resistance imposing at/near the 110.91, corresponding to a Nodule that formed over a prior historical bullish swing. This respite carved out a "nodule", whose core (i.e.: 50%) is offering a high-probability support-to-resistance level, herein defined at (119.54 + 102.28)/2 = 50% = 110.91.
2 - GEO:
The Geo is an elaboration of the Wolfe Wave, using internal geometric correspondence and rules, such that Leg 1-2 represents a reciprocal ab = cd symmetry, Leg 2-3 a complex Elliott Wave TZZ, and Leg 4-5 a simple Elliott Wave ZZ, which is how the Geo defined itself - In contrast, I have left an outline of Mr. Bill Wolfe's Wolfe Wave outline in faint blue, defined by the core 5-point plot and its 1-4 Target Line.
The Geo is an important market geometry element, as it defines a high-probability target if and once price reverses from Point-5' or Point-5'', thus defining levels of Point-4 and Point-3 respectively as their assigned high-probability targets.
ELLIOTT WAVE ("EW"):
As we consider the possibility of further decline based on the Predictive/Forecasting Model, we may consider what the mechanism of decline might utilize as a technical vehicle. Here, I assume that a bearish impulse is pending, with internal compensations ("EW's Rules of Alternations") that justifies the Geo development, as simplicity of Wave-2 comes balanced by the complexity of Wave-4. Hence, one might consider that further downside consideration is justified at this time.
OVERALL: Bearish outlook based on the foreground assertion of the Predictive/Forecasting Model. A temporizing rally might occur, as drawn by the speculative dashed arrows, but bears remain in charge.
Best,
David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA
-----
Twitter:
4xForecaster
LinkedIn:
David Alcindor
-----
.
With recent news of
GLD from Stan Druckenmiller positioning, I decided to pass the ETF through the Predictive/Forecasting Model and other technical screening combs:PREDICTIVE/FORECASTING MODEL:
The "Model" suggests a higher-probability decline with the following targets:
1 - TG-Lo = 97.65 - 17 AUG 2015
and
2 - TG-Lox = 86.37 - 17 AUG 2015
Whereas, the "Watch Line = 71.30 - 17 AUG 2015" represents a timeframe conversion threshold (typically a four-fold conversion from current to higher - e.g.: M15 to H1, H1 to H4, H4 to daily, ... Weekly to Monthly).
OCCULT GEOMETRIES:
1 - NODULAR CORE
There is a high-probability resistance imposing at/near the 110.91, corresponding to a Nodule that formed over a prior historical bullish swing. This respite carved out a "nodule", whose core (i.e.: 50%) is offering a high-probability support-to-resistance level, herein defined at (119.54 + 102.28)/2 = 50% = 110.91.
2 - GEO:
The Geo is an elaboration of the Wolfe Wave, using internal geometric correspondence and rules, such that Leg 1-2 represents a reciprocal ab = cd symmetry, Leg 2-3 a complex Elliott Wave TZZ, and Leg 4-5 a simple Elliott Wave ZZ, which is how the Geo defined itself - In contrast, I have left an outline of Mr. Bill Wolfe's Wolfe Wave outline in faint blue, defined by the core 5-point plot and its 1-4 Target Line.
The Geo is an important market geometry element, as it defines a high-probability target if and once price reverses from Point-5' or Point-5'', thus defining levels of Point-4 and Point-3 respectively as their assigned high-probability targets.
ELLIOTT WAVE ("EW"):
As we consider the possibility of further decline based on the Predictive/Forecasting Model, we may consider what the mechanism of decline might utilize as a technical vehicle. Here, I assume that a bearish impulse is pending, with internal compensations ("EW's Rules of Alternations") that justifies the Geo development, as simplicity of Wave-2 comes balanced by the complexity of Wave-4. Hence, one might consider that further downside consideration is justified at this time.
OVERALL: Bearish outlook based on the foreground assertion of the Predictive/Forecasting Model. A temporizing rally might occur, as drawn by the speculative dashed arrows, but bears remain in charge.
Best,
David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA
-----
Twitter:
4xForecaster
LinkedIn:
David Alcindor
-----
.
Note
03 NOV 2015 - Following is merely a cut/paste of the "Chart Update" and "Tech-Note" commentaries I had initially introduced in the "Post COmment" section. I will cut/paste then in the "Update Status", so as to keep it into clean, visible, and easily retrievable chronological order:==============================
20 AUG 2015 - UPDATE:
From Twitter/LinkedIn:
----------
GLD rallied to higher-prob. ND as forecast; Nears bearish entrenchment at 110.91:#gold
XAU #euro 
AUD 
CHF 
CAD----------
David Alcindor
25 AUG 2015 - UPDATE:
From Twitter/LinkedIn:
----------
GLD stomped at forecast ND level - Coming: Preliminary construction of WW vs. Geo:#gold
XAUUSD #xau AUD CHF----------
David Alcindor
11 SEP 2015 - Twitter/LinkedIn Update:
GLD reversed from occult geometry level as forecast; Bearish targets subsist in fading probability:David Alcindor
=============================
David
Note
03 NOV 2015 - Chart Update / Tech-Note:Price has retraced off of the Nodular Core value of 110.91 - Expect further downside. Bearish targets remain intact and in force:
David Alcindor
Note
08 FEB 2016 - Chart Update / Tech-Note:I was waiting for added confirmation before adding any new technical note - Basically, at this point, it will be a make or break, based on the two following charts:
1 -
XAU - Daily chart:In the first chart, price continues to rally per forecast, although the interim action did take an excursive detour. Still, price is back to where it was forecast, and I expect that the 1,268.78 from last Spring's 2015 target gets hit:
2 -
GLD - Weekly Chart;In this second chart, the view is broader, and price highlights a significant resistance against the geometry's 2-4 Line, after price followed the dashed arrow forecast quite tightly. While this
GLD plays out in its large timeframe, a divergence could occur in the XAU, posted above, heralding the reversal expected at these levels (i.e.: At the Qual-Target in the daily XAU and the geometry's imposition in the weekly GLD):OVERALL:
Price is likely to have reached a significant resistance, and probably a reversal level. A contradiction to this reversal scenario would occur in
GLD if price converts the 2-4 Line from resistance to support.Best,
David Alcindor
Note
22 JUN 2016 - Chart Update / Tech-Note:Today, I have updated the WEEKLY chart by cleaning up and revising the wave counts and probable internal patterns:
As of today (22 JUN 2016), watch for a limited upward adverse excursion, as price draw out an expanding triangle, internal of wave-c to the presumed a-b-c correction of Wave-IV.
Predictive/Forecasting Model calls for a probable resistance at the 126.95 level, corresponding to a probable completion of the 5-point expanding pattern.
In any case, the BEARISH forecast which was defined almost a year ago (17 AUG 2015) remains intact and in force, with the series of bearish targets as follows:
- TG-Lo = 97.65 - 17 AUG 2015
- TG-Lox = 86.37 - 17 AUG 2015
- Watch Line = 71.30 - 17 AUG 2015
Best,
David Alcindor, CMT Affiliate #227974
- Alias: 4xForecaster (Twitter)
Note
28 JUN 2016 - Chart Update / Tech-Note:Price hit overhead quantitative target, TG-1 = 126.95, defined this past 22 JUN 2016 - However, a large decline is anticipated, with abysmal targets defined nearly a year ago (17 AUG 2015), remaining unanswered.
Overall forecast remains bearish:
David Alcindor, CMT #227974
- Alias: 4xForecaster (Twitter)
Note
12 JUL 2016 - Chart Update / Tech-Note:Price capitulates at the completion of a discreet A-B-C-D-E geometry, now resting at the recently hit 126.96 target. Original forecast defined on 17 AUG 2015 remains intact and appears to now come in force:
As indicated in the most recent update, the abysmal target at 97.65, 86.37 and 71.30 should now become topic of concerns for the bull-horned market gawker.
Regards,
David Alcindor, CMT Affiliate #227974
- Alias: 4xForecaster
Note
20 JUL 2016 - Chart Update / Tech-Note:GLD continues to retreat from recent JUN target at 126.95, whereas last AUG 2015 targets at 97, 86 and 71 remain intact and in force:David Alcindor, CMT Affiliate #227974
- Alias: 4xForecaster (Twitter)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.