How To Play This Selloff In Gold and Gold Stocks
Chris Vermeulen, Founder of The Technical Traders has been relatively bearish on gold over the past couple months. Now that we have this down move in gold and gold stocks he weighs in on how low the metal could go and how long the downtrend could last.
Off Topic:
Remember Arabs cheering the collapse of 9/11 towers, and the Israelis across the river watching them fall, and HOW QUICKLY THOSE IMAGES WERE REMOVED FROM THE INTERNET?
Well with the fire in Notre Dame, there were many swarthy faced people (to me looking arabic) cheering the fire. THOSE IMAGES HAVE NOW DISAPPEARED FROM THE INTERNET>
A few were captured and not yet removed:
https://www.youtube.com/watch?v=B64XVAiK-9U
Ira’s closing
/ES looks no problem for 5 hour chart AB=CD up to target 2829……
professionals taking some profit here into this morning gift? pop up?,,,,point being profit taking places may get rarer in next few weeks…good luck traders
/Es doji yesterday at tops = fatigue…….today a hammer, thus far, at top= reversal?
/Es i was short from a few days ago…..i keep relearning the same lessons…always wait for the reversal candle rather than guessing and trying to anticipate it…always…wait for the markets to speak…you alwayys get an intraday retracement to act on your positioning
/Es just completed a .382 countertrend rally…..those shorting may want to consider this as a place to enter for an AB=CD down…..problem is that 30 minute chart has formed a bullish hammer with good but weaker volume associated with it…the normal retracement at .616 is around 2916……doji on this 30 minute candle so far…so confusion exists within buyer and seller community…$ADD is flat and NYNH is way weaker than recently
sox,semiconductor index has completed a 1.27 AB=CD expansion up and will that be it and begin profit taking event?…also will the futures up every evening for weeks become replaced with futures trading down every night for a few weeks?
/ES…if today ends weak do people start selling tommorrow AM before a long weekend to have some peace of mind?….or will the FED, step in and ramp up futures overnight? to prevent this…
/Es has lots of TAs suppoert around 2900 price level…..breaking that would help the profit taking intermediate top case
Ira’s metals
https://youtu.be/L8MzAenMJn4?t=13