Gold Price - Where is it heading?

[>Apocalypto<]

The action in Gold and US Gold indexes is similar to some US Indexes which made there high on 9th May
Simply put They are at decision time.
They will break hard one way or the other Monday – Tuesday – Wednesday
They have been bouncing around some moveing averages and if DOW moves higher I think they will break out to upside. However if the US markets start to crack expect the crack to widen within days and gold to tumble fast


I posted this elsewhere
Now If I said the closing High I called on the 9th May in the US Markets is still in place.
Everyone would start laughing.

Lets take a look after friday's close
Nasdaq Conposite 9th May 2572 friday 2558
Nasdaq 100 9th May 1906 friday 1896
Nasdaq financial 100 7th May 3186 friday 3178
S&P 400 Midcap 9th May 899 friday 898
S&P Composite 1500 9th May 343 friday 342
S&P 600 smallcap 9th May 433 ?friday 428
And a few others as well. However some gave way on Friday just.
US Gold index are only a couple of % below there May highs and a few % below ther April Highs.

What I am saying if the DOW continues its advance at the begining of this week it will drag the above indexes with it?
Which would give more strength to its advance.
I also said the Nasdaq above 2550 would be back in bubble territory. On 26th April 2554 as you can see with the high it made on 9th May 2572 and friday's close 2558 it appears as thought it does not want to go higher? but could it be dragged higher

Us Gold indexes could be drag higher as well and will break out and Gold US750 -775 if they do that the DOW will be moving higher (lots 14500+??)

So there is roughly 3 days advance and the Dow maybe able to do the all the above

Basically the Bears have three days to take the Market down.
The above mentioned US indexes can still turn bearish with one or two days in a row down.
The others that just broke above there previous highs on Friday need two down in a row
So the next three days decide the next few weeks or months

As I said I may turn bullish during the week. But until then I am extremely Bearish.

bean your three days are up buddy you have been saying we have two to three days for a week now!

I do not understand your analysis and it does not make any sense!

Sorry to be harsh but three or two days do not make a market!

 

[bean]

bean your three days are up buddy you have been saying we have two to three days for a week now!

I have been waiting on the US Gold Idexes to make there move.
And wonder why they are taking so long to make it.
If they are going to go up with the rest of the markets or fall with the markets.
If they decide to rise then your last post the Bullish part comes into play for Gold.
However if they don't break out its is because the US Markets are going to correct and US Gold indexes will follow the Markets.

So if the US Gold Indexes break out I am Bullish

copy of a post
Sound like a broken record
However Bulls no need to worry If the US markets, US Gold Indexes and Gold are up tonight and tomorrow I will be nearly turning Bullish.
I am a Gold Bull, however Gold & US Gold Indexes are not joining the party at the moment, could change in the next day or two
The XAU & HUI are sitting just below most of there moving averages, and a few other thing I use.
However why have they not broken out when every other Index is making new highs???
Could it be they know something???
Nasdaq new record closing high, my reading turned slightly positive however and couple of up days and well you will have the Nasdaq and other US markets gaining strength and US Gold Indexes breaking out.
I still only need one down day and Nasdaq is negative again and two down days in a row and the US Markets will be changing direction. And the Gold Indexs until they turn positive I am of the belief that the Markets going down.
Gold stocks will fall if the US Markets correct

My time frame window is now reduced to one possibly two days for the Markets to start correcting
Tonight and at latest Wednesday night

 

[Sean K]

Sound like a broken record

Yes, bean. There is no point in reading your posts any more I'm sorry. It's just the same hash over and over. I'm not sure why you are posting actually.

 

[BlueDaze]

Marc Faber

Marc Faber "Final Stages Of A Bubble" / Bloomberg Video

http://tinyurl.com/2ob5ow

Marc Faber cites Spanish property, EM stocks, commodities, art, collectibles, etc., all being in bubbles, but that the "bubble" in U.S. equities is not as big. States that China is also in a bubble, but since this is the consensus among most retail investors, he states that China can and should go higher than anyone thinks before it pops.

Also states that the whole world will suffer when this bubble pops. Says there is nowhere to hide since pretty much all tradeable assets are now highly correlated with each other. Not exactly sure on what will be the trigger but states that this time around, the lowering of interest rates and money-printing would not help, as this will only drive up consumer prices and crash bond prices.

 

[>Apocalypto<]

Re: Marc Faber

Marc Faber "Final Stages Of A Bubble" / Bloomberg Video

http://tinyurl.com/2ob5ow

Marc Faber cites Spanish property, EM stocks, commodities, art, collectibles, etc., all being in bubbles, but that the "bubble" in U.S. equities is not as big. States that China is also in a bubble, but since this is the consensus among most retail investors, he states that China can and should go higher than anyone thinks before it pops.

Also states that the whole world will suffer when this bubble pops. Says there is nowhere to hide since pretty much all tradeable assets are now highly correlated with each other. Not exactly sure on what will be the trigger but states that this time around, the lowering of interest rates and money-printing would not help, as this will only drive up consumer prices and crash bond prices.

Can you explain to me what that has to do with what the gold price is doing?

will it cause it to fall rise?

thanks.

Gold,

more softness over night.

I still have support on its trend line at and just under 650 still see this bullish triangle in tact and stand on a bullish out look on the chart.

guys your thoughts?

 

[bean]

Why do I sound like a broken record and keep repeating myself

First posts were US Gold Indexes following US Markets (S&P)
I am in the Bearish Camp which sees a correction in Gold Indexes and Gold
The correction would be occurring the US Markets falling

Excluding todays prices lets look Dow 12076 on 13 March
We will start from 14th so we have 48 trading days
Dow up 37
Nyse up 33
Nasdaq up 32
S&P 500 up 31

XAU up 28

Not to far away with the number of days up. So running pretty much with the US Markets
XAU closing high in April 148.11 on the 16th April
Just about the time everyone was saying Gold ready to break above US $690

XAU closing May high 143.15 on the 7th May
I call the US Markets tops 9 May some have just passed then

I start calling correction or I get a buy on US Gold Indexes yesterday and day before
XAU 138.36 yesterday
Today 135.81

The XAU is making lower Highs????

It does not believe the US Market advance because it does not want to give me a buy signal
On saying that if US Markets advance it will take XAU with it and I will get a buy signal??
Do the US Gold Indexes know something????

 

[SGB]

Why do I sound like a broken record and keep repeating myself

bean,
I have to admit after reading you for a couple of weeks i'm still trying to work out what side of the fence you're on.

 

[Kauri]

Although there are alternative counts suggesting that this move has further downside the following charts are how I am tending to view gold currently. Time (and price) will either set up a long trade or throw the whole set-up out the window.

 

[bean]

Although there are alternative counts suggesting that this move has further downside the following charts are how I am tending to view gold currently. Time (and price) will either set up a long trade or throw the whole set-up out the window.

Kauri hi,
Can you do alternate count to downside to show say gold dropping US 10-15 tonight or tomorrow night so I can see that picture

 

[wavepicker]

Hi kauri,

Your charts are generated by Dynamic Trader is that correct?? What version are you using and how do you rate rate Dynamic Trader in terms of Elliott Wave Analysis and all the other routines available on Dynamic trader?

Cheers

 

[Kauri]

Kauri hi,
Can you do alternate count to downside to show say gold dropping US 10-15 tonight or tomorrow night so I can see that picture

OK.. but only because it's you...

 

[bean]

OK.. but only because it's you...

Thanks, then would get quick wave 4 then wave 5 to bottom??
Thats the chart to look at if Gold and US Gold indexes drop tonight or towmorrow night and they would be dropping in a similar fashion to US Markets.

However if Gold and Us Gold indexes rise tonight and tomorrow night.
US Gold Idexes are within one to two % of there moving averages
And they would confirm Golds rise and vise wera
And US $750 plus
I will be most probably buying as your first charts would come into play.
And 15000 for the Dow??

So decision time is near??

 

[Magdoran]

bean,
I have to admit after reading you for a couple of weeks i'm still trying to work out what side of the fence you're on.

Which side is Bean on? Blackadder’s of course!

Bean is our resident Tasmanian “Sir Humphrey Appleby”, hence the countenance in his verse! He’s had over half a century to refine his “style”.


Here is a line out of the Wikipedia:

http://en.wikipedia.org/wiki/Humphrey_Appleby

Sir Humphrey is the master of obfuscation and manipulation. He is committed to maintaining the status quo for the country in general and for the Civil Service in particular, and will stop at nothing to do so ”” whether that means baffling his opponents with technical jargon, strategically appointing allies to supposedly impartial boards, or setting up an interdepartmental committee to smother his Minister's proposals in red tape.

So be a good Baldrick and just say “Yes... Minister”!!!

 

[SGB]

Which side is Bean on? Blackadder’s of course!

Bean is our resident Tasmanian “Sir Humphrey Appleby”, hence the countenance in his verse! He’s had over half a century to refine his “style”.


Here is a line out of the Wikipedia:

http://en.wikipedia.org/wiki/Humphrey_Appleby




So be a good Baldrick and just say “Yes... Minister”!!!

Hi Mag

Very Good, I'm with it now

 

[SGB]

OK.. but only because it's you...

I'm in a fit of laughter. lol

 

[>Apocalypto<]

OK.. but only because it's you...

Classic chart Kauri !

 

[>Apocalypto<]

Which side is Bean on? Blackadder’s of course!

Bean is our resident Tasmanian “Sir Humphrey Appleby”, hence the countenance in his verse! He’s had over half a century to refine his “style”.


Here is a line out of the Wikipedia:

http://en.wikipedia.org/wiki/Humphrey_Appleby




So be a good Baldrick and just say “Yes... Minister”!!!

Mag,

took me two reads to get it but very cheeky!

good to see your here with a smile!

 

[Kauri]

A risky liitle trade on the 4 hourly.... I have found that I only need to get 31% winners (7 losers in every 10 trades ) and because of the RR I come out in front.

 

[bean]

The index I mentioned in earlier posts his last up date
Please read – may help you understand
http://www.321gold.com/editorials/kern/current.html

Herein lies the problem it bought last night, Using it on the HUI and XAU they brought as well the night before.
Now my own Gold system did not it may if the Gold Indexes rise for a couple of more days 2-3
Normally I would be seeing a slight change in my values at the moment (slight turn up) but I have not I have a divergence!!!
The US Market Indexes have alingned themselves again for the possibility of a two day down tonight and tomorrow to show a change in direction.
Believe it our not the Dow has closed three days in a row down. and other Indicies apart from advance on Monday have gone nowhere.
So part of my system uses numbers and time series come into play, so does various technical analysis.
Short medium and long term.
And its not just the Nasdaq its NYSE and a few others and Dow itself….
I would not be concerned if I had a buy in Gold Indexes because chances of it happening would be less.

I also know the price of Gold has not passed various pivot points as yet.
So those using pivots are not buying gold.

The wavers calling wave five of five in the markets well they are covered because hardest wave to pick and wave five can be extended. However if in fact US Gold Indexes are joining the advance then the markets may well rise for several more months or longer

Kauri why I wanted to see the alternate count down was the only reason his system would not buy was what you showed but over three days. And that may well come into place if the US Markets and Gold Indexes and Gold move down together. Because I do not have a buy signal on Gold and I have that set up mentioned in US Markets something like that may well come into place.
If the bullish case is in for Gold a small retractment tonight then a push up?
Or just a push up?

At the moment I myself still do not have a buy signal in US Gold Indexes.
I do not have a sell signal in the US Markets.
So Gold’s direction????
Hopefully the next two days I will get an indication of a signal in one of them

I invest mainly in Gold & Silver stocks, the ones I invest in are mainly lower in price from when I sold.
I have been in a no risk situation.

 

[bean]

GOOD NIGHT TO ALL