SalN

SalN

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 Updated 

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 Updated 

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 Updated 

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 Updated 

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...

SalN Updated 

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 Updated 

Jnug Daily Chart Well that move down this morning hit my target perfectly and bounced. I am wondering, however, will it drop just a tad bit more to touch or even intraday overshoot the 10DMA. We did not hit it yet. It turned down as price dropped today. And the 20 DMA is screeming downward. I feel we will be squeezed in between the 10DMA and 20DMA for next...

SalN Updated 

I almost didn't do a analysis this weekend because it seems pretty obvious to me now that Jnug is going up for the short term. Just look at the price action last week. Gold was falling but clearly Jnug was flat. I knew that it wanted to go up and towards the end of Friday afternoon, once spot gold turned around, Jnug flew. So what's next for Jnug? I think I...

SalN Updated 

Jnug Daily Chart So far so good if you were in JDST. So the question is, was that the bottom. Did we reverse on Friday? Quite frankly I do not know. The cycle could have ended Friday but it could also run for one to two more days. I did not sell my JDST and am thinking Jnug drops a little more. I hope I am correct because that would be YUGE and then to buy...

SalN Updated 

Weekly Chart I just thought I would do an update to where I think we are in the broader markets. 1st I thought I would post this weekly chart so you can see my count as to when the "BIG CRASH" might (might take place). I am thinking not until the next presidential election. That's just a guess. Nothing special about it. But I think the Trump policies, once...

SalN Updated 

SO I bet many people were wondering WTF is up with the price of JNUG if gold broke out the last two days. Well the answer is that the cycle for miners is coming to an end and there is usually a little pullback during the bullish times and a huge drop during the bearish times. *(look at miners from 11/14 to 12/08 and see what the price action did compared to spot...

SalN Updated 

I'll keep this short and sweet. Until spot gold break through that large green area that I put on this Spot gold chart, then it is still possible that we are in wave 4 and not in the start of the 2017 bull run. However, I am not so sure how low it could go being so so late in the cycle. I put up the possibility of a head and shoulders pattern that could...

SalN Updated 

So typically the miners cycle would have ended today....and maybe it did. But like I said in a earlier post, I think we may stretch this cycle out until Feb 1st. If we do have a rate hike then I am expecting a similar movement down for that day and then a sharp rise the next few days. It also appears that we may be making a zig zag pattern which started zigging...

SalN

I have been giving it some thought and I have a feeling that there will be a rate hike on February 1st and I will list my reasons. #1) We are currently in the micro wave 5 which wont last until the March 14th Fed meeting. 2) The CME group has a FED Watch tool that gives a percentage for the likelihood for a rate hike for this year.....and for Feb 1st we are at...

SalN Updated 

I just read from someone that he believes that the daily cycle for gold is finished today or tomorrow. He called it a Shallow DCL....UMMM NO. The divergences have not resolved themselves yet. And we should at least pull back to the 50 DMA for a healthy DCL. This is a half cycle that we are currently in and it is my opinion that the weight of the possible rate...

SalN Updated 

here is jnug with a long hidden bearish divergence and a small bullish divergence. I am guessing on the price movement but this is how it could play out towards the end of this cycle to the beginning of the next. Remember that miners and jnug do not perfectly follow Gold. Just look at jnug or GDX or whatever through the month of November and compare it to gold.

SalN

I chose to show all of the different divergences instead of doing a big write up. Hope you get the message on what is coming next from my perspective. Timing is a whole other issue but I am hoping next week it finally breaks.

SalN Updated 

I am following my cycle charts. I believe that in the cycles and that Jnug will end lower than we are at this point today. I am still holding short from last week. I was hoping for a bigger drop but I am not quite sure how much of a drop we can get. Will it be big like after the election. I am leaning that way. Especially with everyone saying that Gold is...