AMEX:JNUG   DIREXION DAILY JUNIOR GOLD MINERS INDEX BULL 3X SHARES
5 months ago
So what just happened this morning is called an undercut low. There is nothing to predict such a move. All cycle analysis, or any type of analysis, goes right out the window. There was nothing significant about any economic data today to have a move like this. All that happened to trigger this move was Hawkish words from a Fed Member. That's it! Not even Janet Yellen can create a move like this out of thin air. So people will call this type of move, "manipulation" or "manufactured". I would agree 100%. Really makes me angry because its nothing short of theft. Only if you sold to those Bastards. But, there is nothing that we can do about it except move on. About two days ago, a veteran cycle analyst, Gary Savage, said he "would not be surprised to see an undercut low in gold             ." What he was referring to was big money creating this move so that people freak out and sell them their shares at a very low price. That way big money gets to buy at a phony deep bottom. Its real in that it is happening as we speak but phony because it should have never happened. So, since I have seen this before, and since the veteran analysts have seen this before, I will not sell and try to leverage down. I will weather the storm. It sucks short term. But the rally that should follow should be quite good.

Now we really are in overbought territory. At first I thought we could not make it down to fill the huge gap but then I saw that the trend line they are using is the one that connects 7/20 and 7/25. That absolutely would fill the gap. So if you guys are lucky enough to be waiting for a bottom, I personally would buy at $10.65ish just to be safe. And now we have a large gap above us. and yes that will get filled, rather quickly I think. I am going to say by Thursday.

Because of this BS manufactured move, my price targets for the next couple weeks have changed a little bit. I am saying we get up to $18 by Friday. For the next couple weeks, I am Bullish Jnug            
5 months ago
Comment: 2 hour chart above.

Tremendous volume today.
5 months ago
Comment: by the way, that new blue resistance line up around $24 might be nothing. I just threw that on there trying to figure out where we might top. could easily shoot past that for all I know.
5 months ago
Comment: for Virtualfax
funny you should be talking about a potential H&S
hopefully this chart loads up
snapshot
5 months ago
Comment: I do not think we hit the neck line this time. but that seems reasonable for the drop I am thinking will come end of October. or even beginning of December. Almost a mirror image if you think about it. Quick sharp pop here next two weeks, then down lower. Then another lower pop and light drop, then pop in December because of no rate hike? and then huge drop because of clearness of rate hike for Feb 1. Starting to all come together and make sense. Just not today!
SalN PRO
5 months ago
2 hours chart above by the way
Reply
Matce
5 months ago
looks like 11.20 is resistance... got tested a few times today!
Reply
SalN PRO Matce
5 months ago
yeah, but they are already close to filling that gap, I can't see them stopping now. Just a hunch
Reply
Matce
5 months ago
I see it... 14.85 ... looks good for tmr. I traded JDST up to 33 - then switched :) Its a good day!
Reply
SalN PRO Matce
5 months ago
lucky dog.. I hate you ;)
Reply
Matce SalN
5 months ago
jumped on breakout gap when I saw it this morning. lucky indeed! hopefully JNUG delivers tomorrow!
Reply
VirtualFax
5 months ago
Your analysis is awesome as usual - my hat's off.

Agree with $10.65 as the first buy target though still eyeing area around $9.61 support as a potential reversing point. First, because most of the time gaps close with overlaps, second - it's in proximity of the initial 23.6% move if measured from Jan 20 to Aug 11 and lastly it's the previous ICL low printed on May 31 under very similar scenario.

snapshot


Of course, these arguments would mean nothing if either price doesn't get there this time around or if it penetrates and keeps falling.

Speaking about the downward momentum, what do you think about the potential H&S in GDXJ?

snapshot

Reply
ice_holly01 VirtualFax
5 months ago
You two are awesome!!
Reply
SalN PRO ice_holly01
5 months ago
thank you ice princess
Reply
VirtualFax ice_holly01
5 months ago
Listen, we might be awesomely wrong : )
Reply
VirtualFax
5 months ago
Another Gold related H&S. I spotted it and did the measurements projections earlier on Monday, well before the yesterday's massacre, but didn't take any action thinking it was too unrealistic to unfold. Stupid me : )

snapshot
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out