Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24
US House Prices Trend Forecast 2024 to 2026 - 11th Oct 24
US Housing Market Analysis - Immigration Drives House Prices Higher - 30th Sep 24
Stock Market October Correction - 30th Sep 24
The Folly of Tariffs and Trade Wars - 30th Sep 24
Gold: 5 principles to help you stay ahead of price turns - 30th Sep 24
The Everything Rally will Spark multi year Bull Market - 30th Sep 24
US FIXED MORTGAGES LIMITING SUPPLY - 23rd Sep 24
US Housing Market Free Equity - 23rd Sep 24
US Rate Cut FOMO In Stock Market Correction Window - 22nd Sep 24
US State Demographics - 22nd Sep 24
Gold and Silver Shine as the Fed Cuts Rates: What’s Next? - 22nd Sep 24
Stock Market Sentiment Speaks:Nothing Can Topple This Market - 22nd Sep 24
US Population Growth Rate - 17th Sep 24
Are Stocks Overheating? - 17th Sep 24
Sentiment Speaks: Silver Is At A Major Turning Point - 17th Sep 24
If The Stock Market Turn Quickly, How Bad Can Things Get? - 17th Sep 24
IMMIGRATION DRIVES HOUSE PRICES HIGHER - 12th Sep 24
Global Debt Bubble - 12th Sep 24
Gold’s Outlook CPI Data - 12th Sep 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Gold GDX - What and where are the STRAITS of HELL,

Commodities / Gold and Silver Stocks 2016 Mar 07, 2016 - 09:33 AM GMT

By: Denali_Guide

Commodities and why does anyone care, anyway ?

 They are located and easily found btwn $HUI 280 and 300.  Created by selling enough paper contracts to equal TWO (2) years of Newmont's production, in ONE DAY[1], THEY  cleaned out all the bids from ceiling to floorboards, like a dust explosion.  Clearly UN-Economic that was a signal from HELL that GOLD was doomed, from, in my opinion, THE POWERS THAT BE [ TPTB ]. We shall see.....




 http://denaliguidesummit.blogspot.ca/search?q=straits+of+hell

      There is the link to bring you to several posts on my blog concerning the Straits of Hell and Whale Island.    Why this ?  Why now?    Similar to the $HUI, the GDX Gapped down during the week of Apr 15, 2013.  “Someone” decided that needed to be done and it was in resounding fashion, so much so that there is still an unclosed gap btwn HUI 280-300, and GDX 30-31.   Why is this important ?   We have been below that point for 34 weeks.  Weekly charts are pretty strong, and we expect this to fill.   It need not fill, it could be JUMPED.  IF that were to happen, we would have one of the LARGEST ISLAND BOTTOMS in recent market annals and point to a possibly cataclysmic rise in Gold Miner Shares as the GDX & HUI.  IF these averages just wade thru the Straits of Hell rather than jumping it, well that will be good, but not the same.

Lets address the WHY NOW?  Point & Figure

charts as below are considered arcane or exotic depending on your vocabulary.  I like to use them like a Builders BluePrint for a Work-in-Progress, that is,an architectural framework of sorts that points out likely limits of the current structure, and thus can change with other shifts in structure.



   Here we see a potential trend neuter point of about 18.5 on the GDX, and an Upside potential of 34.5, far North of the location of The Straits of HELL.  Be they a figment of my imagination or not, they represent to me a significant turning point.

“Once bitten, twice shy” describes what happens when a P & F target is missed.  BUT “ Three (3) Times, a Charm” is also valid with this method.  I will  be watching it with great attention......to see.......Is this a real BULL MARKET ?  Subscribe & Ck it out !!

By Denali Guide

http://denaliguidesummit.blogspot.ca

To the the charts involved, go here, to my Public Stock Charts Portfolio, and go to the last section.  All charts update automatically. http://stockcharts.com/public/1398475/tenpp/1

© 2016 Copyright Denali Guide - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in