SalN

PRO
Message Follow Following Unfollow
Online Joined USA, San Diego, CA
Markets Allocation
62 % stocks 38 % other
Top Mentioned Symbols
JNUG 58% | 43 SPX 18% | 14 XAUUSD 14% | 11 DXY 4% | 3
SalN SalN PRO SPX, D,
SPX: SP500 SPY "Looking for the correction to start last week of July
341 0 8
SPX, D
SP500 SPY "Looking for the correction to start last week of July

My timing is slightly off but with the recent breakout, it appears that my wave count is on the money. We are in wave 5 of a larger 1 of this bull markets final Wave 5. I hope that did not confuse you. So I do not think this will measure the same as wave 3 which would take it to around 2510 ish. And I am looking for it to be a little bigger than wave 1, which ...

SalN SalN PRO JNUG, D, Short ,
JNUG: Jnug to gold "I dont think we are finished dropping yet"
426 15 6
JNUG, D Short
Jnug to gold "I dont think we are finished dropping yet"

I was on vacation out of the country for the last week so I have not been able to update anything. But there really was not much to update. So to cut to the chase, it is my feeling that we are not finished dropping yet for gold. I am expecting gold to drop into oversold on the RSI 14 and also drop below the march low before having a legitimate bounce. So lets ...

SalN SalN PRO XAUUSD, D, Short ,
XAUUSD: Jnug to Gold "Crash next week"
904 14 13
XAUUSD, D Short
Jnug to Gold "Crash next week"

I know I have been reading a lot about the big move in gold. And everyone has been biased bullish except for a few. I am more beaish today than I was last week. The time for the big move is next week in my opinion. I hate having to wait like this but the markets are on their own schedule. So the reason that I am into the bear camp, aside from the fact that we ...

SalN SalN PRO JNUG, D, Short ,
JNUG: Jnug to Gold "FOMC meeting and Brexit talks"
1319 23 8
JNUG, D Short
Jnug to Gold "FOMC meeting and Brexit talks"

This is a tough spot for me to possibly predict any directional movement. While I do think that Jnug will drop at the beginning of the week and probably touch the $16.80 level with the help from gold dropping, the Fed decision is weighing on me. Just about everywhere I read it says that the Fed will raise rates on Wednesday. If they do raise rates then I think ...

SalN SalN PRO XAUUSD, D, Short ,
XAUUSD: Jnug to Gold "Breakout??!!"
559 15 9
XAUUSD, D Short
Jnug to Gold "Breakout??!!"

Well gold finally broke through the 5 year resistance downtrend line. But what matters is how we close the day and if there is follow through tomorrow. If this drops back under 1290 and we start tanking, then I would bet this continues to drop hard. This could be a false breakout designed to get everyone to go long. Do you doubt the big money does not know ...

SalN SalN PRO JNUG, D,
JNUG: Jnug to Gold "BBands tightening again, Big move coming soon"
1330 21 12
JNUG, D
Jnug to Gold "BBands tightening again, Big move coming soon"

Yes a big move is coming soon and I think that that big move is down. Last Fridays poor price action for Jnug is the writing on the wall. With such a strong break up for gold, Jnug should have behaved better than that if there was strength. So while I think gold will continue up towards the top of its wedge, I think Jnug may not perform that well. I wont guess ...

SalN SalN PRO XAUUSD, D, Long ,
XAUUSD: Jnug to Gold 5/22/17
565 6 10
XAUUSD, D Long
Jnug to Gold 5/22/17

I decided to start with the gold chart today. We have once again closed above the 50 week MA, which is the thick blue line. I am looking for price to move above 1264.75 to confirm that we are in a wave 5. If that is confirmed, probably overnight, then I am targeting that yellow box area for a top for gold. Then we should turn down with a vengeance. I am not ...

SalN SalN PRO SPX, D, Long ,
SPX: SP500 "almost finished with a large wave 1"
371 2 7
SPX, D Long
SP500 "almost finished with a large wave 1"

I have not posted a SP500 chart for a while so I thought I would show how its going. So far its following along with my prediction. As you can see, if we do reach 2500, then a 10% market correction would bring it down to the bottom of the large channel trend line. I may try TVIX in June. I am pretty sure we are about to finish a very large Wave 1 of our mega ...

SalN SalN PRO JNUG, D, Long ,
JNUG: Jnug to Gold "a couple more days of upside before the big drop"
1715 17 16
JNUG, D Long
Jnug to Gold "a couple more days of upside before the big drop"

I think that we completed micro wave 3 and may have also completed a micro wave 4 today. I went ahead and, assuming that this was wave 3, I measured the price action from the start of wave 3 to the end. The I copy and pasted it and adjusted it to start from the bottom of what may be the bottom of wave 4. As you can see, if we get an equal price move for wave 5 ...

SalN SalN PRO XAUUSD, D,
XAUUSD: Jnug to Gold "French Election weekend"
569 8 8
XAUUSD, D
Jnug to Gold "French Election weekend"

So I am having a hard time reading the Jnug chart right now. Aside from the extremely oversold RSI, the positive action today for Jnug, despite weakness in gold, suggests a pop may have begun today. But I thought maybe the regular gold chart might help me get a couple of ideas about Jnug price action in the short term. I am assuming that we are going to get a ...

SalN SalN PRO XAUUSD, D, Short ,
XAUUSD: Jnug to Gold "Gold Chart only"
291 0 6
XAUUSD, D Short
Jnug to Gold "Gold Chart only"

I just thought that I would post this gold chart all by itself. I think we are almost finished (short term) with dropping in gold and will get a little bounce possibly starting at the end of next week. But the Intermediate cycle is due and that means a left translated cycle. So a medium term bounce up to the black #2 and then down hard. I will post a zoomed ...

SalN SalN PRO JNUG, D, Short ,
JNUG: Jnug to Gold "Possible more downside ahead"
1480 38 10
JNUG, D Short
Jnug to Gold "Possible more downside ahead"

With the break of the black trend line yesterday, that suggest that there is much more downside ahead for Jnug. I did not think this drop was coming so soon. I was thinking in a month or two. So I was wrong. But now it appears that we are in a downward channel. And I have a feeling we are going to fill at least the next gap if not the December low gap. The ...

SalN SalN PRO JNUG, D, Long ,
JNUG: Jnug to Gold "looks like its time to go long for a bit"
1318 26 10
JNUG, D Long
Jnug to Gold "looks like its time to go long for a bit"

I was too focused and zoomed in on my little wedge to see the bigger picture. I think what just happened is a larger zig zag B wave just played out. I measured the drop from the 1st part of the B wave and as you can see(purple price measurement), this latest drop is just about a perfect measurement. I think we are done now. I am expecting Jnug to start the C ...

SalN SalN PRO JNUG, D,
JNUG: Jnug to Gold "Difficult Read ahead"
1279 48 8
JNUG, D
Jnug to Gold "Difficult Read ahead"

I have had a difficult time figuring out what to discuss. NOTE** None of what I say below will matter if there is a war with North Korea in the next week because gold will shoot through the roof. But I have a feeling that Trump worked out a deal with China and dough boy will back down. That being said, I do believe that the cycle for Jnug has shifted....but ...

SalN SalN PRO JNUG, D, Short ,
JNUG: Jnug to gold 4/07, still going according to plan
1425 39 13
JNUG, D Short
Jnug to gold 4/07, still going according to plan

I was happy to see that wave 5 completed today. I was also unhappy that it did not complete yesterday like I was hoping. (I cant predict everything perfectly but only hope to get real close). What we saw this morning was the gap up for Jnug, a little more upside movement to complete wave 5, and then the start of our move down. The huge down move to 6.43 was ...

SalN SalN PRO JNUG, D, Long ,
JNUG: Jnug to Gold 3/31/17
1193 46 16
JNUG, D Long
Jnug to Gold 3/31/17

There is really nothing to update this weekend that I see. For once I was bummed that price settled in the blue box. The price target for Today (Friday) was approximate 6.50 and if you include afterhours, then we closed at 6.53. I would have like to have seen it close at near its high. But oh well. I am still confident that Jnug will continue to go up for ...

SalN SalN PRO SPX, D, Long ,
SPX: SP500, SPY - The End is near
324 3 7
SPX, D Long
SP500, SPY - The End is near

SP500 Daily Chart Did you like my title? "The end is near". BUT NOT YET. I'll explain. First on this daily chart I would like to point out that we dropped a little bit over the last couple weeks. The hidden bearish divergence on the RSI below played out. But as you can also see, we have a larger hidden bullish divergence that has formed. Look at the last ...

SalN SalN PRO JNUG, D,
JNUG: Jnug to Gold "BBands are tightening, big move in two weeks"
1066 7 18
JNUG, D
Jnug to Gold "BBands are tightening, big move in two weeks"

Jnug Daily Chart The price action today was right in my little blue box so that was just about perfect. We retested the 10 DMA and closed below the 20 DMA. We still have two more days for the COT report (which cuts off on Tuesday), so I can easily see Jnug drop to the lower pink line. But I gave two ideas. The first pink line is an exact measurement of the ...

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