UnknownUnicorn2538164

UnknownUnicorn2538164 Updated 

This is a followup to a previous long-term look at gold. Here the gold futures price since 1976 is drawn on a log-scale. The bottom most line models roughly a 4% growth rate and runs through the low's in the 70's and early 2000. After 2000, gold really took off and followed a much steeper growth rate that I think reflects the tremendous price inflation that we...

UnknownUnicorn2538164

The e-mini is starting to run into resistance on the retracement level(s) shown here. If we get a move lower from these levels, the downside extension target sits at about 2538. Cheers!

UnknownUnicorn2538164

You can see here that financials have put in a series of lower low's. Often in such cases, we see retracement back into the original range. If you are looking for a short opportunity entering at the 50% level with a downside target at the 1.6 extension level would offer a reasonable risk/reward ratio. With the midterms coming up, I would expect a low prior to...

UnknownUnicorn2538164

SInce bouncing off the 50% retracement between the low on March 20th and the high on the 27th, gold has put in a series of highs, only to be sold back down to the various fib. levels. Going off the current bullish thesis, gold may run through the high on the 27th, and then reach the 1.618 fib. extension. After that if we continue higher, we could see 1385-1390 in April.

UnknownUnicorn2538164

Gold bounced strongly off the 50% retracement shown here; this implies a bullish fib extension target of 1385.

UnknownUnicorn2538164

Taking a look at the long-term chart of gold, we see that it has bounced off the 50% retracement level between the high in 2011 and the low in the 1990's. To me this looks like a bull-market in correction. If gold really takes off, we are likely heading to the 2900 level, then 4600 and possibly 7300.

UnknownUnicorn2538164

This is an update to an earlier post on a long term view of Amazon. You can see here that AMZN has bounced off the bearish 2.818 fib extension level, and is likely to retrace. My opinion is that short opportunities will arise in the 1468 to 1595 level sometime in the next week. After that amazon may decline further to the 1225 level to complete the near term...

UnknownUnicorn2538164

Amazon has been on a truly epic run since bottoming in 2008 - congratulations to those who were in on this run. You can see that it has been sold down since hitting (almost to the tick) the 4.2 extension level shown here. This is an ominous sign for a heavy decline. In the coming weeks, I should be able to provide an update on where I think the downside may be heading.

UnknownUnicorn2538164

This is a followup to a previous opinion on ABX. Looking at gold we can see that it has bounced nicely off the 2.6 extension level, which may be an indication that the correction is over. If the GLD closes above the 1.6 level, this would confirm that new bull market has begun. However, if we fail to reach this level relatively soon, or bounce off it, gold may...

UnknownUnicorn2538164

Based on cycle test & failure in 2016, the downside may be limited until we reach the final extension level.

UnknownUnicorn2538164

For the past few decades, a daily close in winnebago below 50% of the recent high, has been a reliable foreshadow of major declines in the broader markets.

UnknownUnicorn2538164

Possible downside move into the end of April, then the next left up into June

UnknownUnicorn2538164

Next level up....

UnknownUnicorn2538164

Almost a perfect bounce...

UnknownUnicorn2538164

Looking for the second act on Barrick