I think we have one more day (or possibly the morning only?) of downside before we turn back up and continue the rally up toward the 17,000 DOW area. So the 1810 SPX area could be hit Tuesday morning if we gap down… and possibly we could dip a little lower but that’s about all I see on the downside.
The video I did a few days ago seems to be pretty accurate so far, although we might bottom tomorrow instead of this Thursday/Friday as I suggested in it. Maybe we bottom Tuesday, bounce up for the A wave up on Wednesday, back down for the B wave on Thursday/Friday and up for the C wave for all next week.
What I see LT chart /yg. If green cracks they could tale it all the way to LT pink support near 800. Crazy bastards may just do it. It’s insanely cheep now IMHO.
Agreed… I wouldn’t want to bet either way on gold right now. The flash crash low could have been to hit all the bulls’ stops right before they scream it higher in a huge rally. Or, they could turn it back down and tank it again? I don’t know which one will happen?
Bank of America chart update: http://niftychartsandpatterns.blogspot.in/2014/01/bank-of-america-resistance-line-and.html
SPX update: http://screencast.com/t/dr8TQ4GTer
Dow Jones analysis after closing bell: http://niftychartsandpatterns.blogspot.in/2014/01/dow-jones-analysis-after-closing-bell.html
I think we have one more day (or possibly the morning only?) of downside before we turn back up and continue the rally up toward the 17,000 DOW area. So the 1810 SPX area could be hit Tuesday morning if we gap down… and possibly we could dip a little lower but that’s about all I see on the downside.
The video I did a few days ago seems to be pretty accurate so far, although we might bottom tomorrow instead of this Thursday/Friday as I suggested in it. Maybe we bottom Tuesday, bounce up for the A wave up on Wednesday, back down for the B wave on Thursday/Friday and up for the C wave for all next week.
I don’t think we’ll see it either, but there is that last lower diag just in case.
I’m out. good to talk. Have a good one.
I don’t think we’ll see 800 area on gold Shanky but this old FP from 2010 could be in play?http://reddragonleo.com/wp-content/uploads/2010/10/gold-fp-of-939-on-10-14-2010.jpg
TVIX update… “stop clearing?” http://screencast.com/t/THDETfVg72a
What I see LT chart /yg. If green cracks they could tale it all the way to LT pink support near 800. Crazy bastards may just do it. It’s insanely cheep now IMHO.
Agreed… I wouldn’t want to bet either way on gold right now. The flash crash low could have been to hit all the bulls’ stops right before they scream it higher in a huge rally. Or, they could turn it back down and tank it again? I don’t know which one will happen?
Which direction is the “REAL” direction for gold? http://screencast.com/t/lWqsrMl2I