SalN

SalN

I believe we are completing our minor wave 5 up to about 2300 2310 range in this bigger wave three. The FOMC rate hike estimation for February 1st is at 97%. I do believe they will hike again on that date being that the last one did nothing. This would also coincide with an overdue DCL. But if we are in fact in a bigger wave 3 then this correction should not...

SalN Updated 

Gold Daily Chart I apologize for all the lines for my gold chart. I usually don't like to post this chart because of the mess but felt it important. Take a look at the RSI below set at the default 14 for the daily. This is another reason why I believe that this is a fake out and that we still could fall until late Feb to March. What you are seeing is called a...

SalN Updated 

Gold Daily Chart This is important enough to get its own post. Earlier post still applies as you will see. I was reviewing some of the materials that others have written about cycles and gold and I think I found something that could prove to be very important. Since I cant post the chart I want to reference, I would like you to google search for it on your...

SalN

SP500 Daily Chart It appears that we are in our micro wave 5 move to complete this bigger wave 3. That's how I see it anyways. And I think we can make it to almost 2300 before the DCL rollover. It just never seems to be able to make it all the way through those milestones marks the first time. If you zoom out you will see my little cycle indicators and if you...

SalN Updated 

Spot God Daily Chart What a run! So I am currently having a dilemma. How much higher do we go? I am pretty sure that tomorrow is a miss on the jobs report. I am estimating 155,00 - 160,000. I came up with that estimate after using and reading a report written today on seeking alpha. That report has two bar charts. You can see where I came up with that...

SalN Updated 

Daily chart for SP500 So I saw someone else's idea about wave count with the SP500 and he may be correct. I was always wondering about the correction we had that ended in November. As you can see it dipped well below the August 15th peak. That is not suppose to happen if that was a Wave 4 corrective move. So another person had an idea that the end of the...

SalN Updated 

Gold Daily Chart first I decided to start off with the Spot gold chart first this time. I do not believe that gold is finished going down yet. Im talking about maybe one more day down. The reason I am thinking this is that we are, in my opinion, in a wave 4 correction.. If the wave 2 correction retrace approx. 61% then this correction should be around 38%. ...

SalN

Tvix is almost out of room in this descending triangle. I obviously don't need to talk about being oversold on the Vix and in a long long rally in the market. I see some analysts are talking about no sell off until after the 1st of the year due to lower taxes under Trump, just like I had suggested a few days ago. Only a few more days to prove that theory wrong...

SalN

Just thought I would post this. Today Jnug stopped at exactly the high from a few sessions ago. And there is a little gap below. I am wondering if this will turn out to be a cup and handle formation with Jnug pulling back for the next couple days or so. At least to fill the gap down to $4.31. GL

SalN

Dollar Daily Chart It has been a long time since I have posted a chart for the dollar but I think as it relates to Gold and miners, it is time to show what I think is about to happen. I had previously posted my thought about the wave 1 - 5 and it appears I am correct. I think there is a possibility that we do one last little pop in the dollar to finish wave 5...

SalN

2HR Chart At this point I do not believe that we will get a sell off before the end of the year. I know that usually happens for tax purposes but I have an alternative theory. I think a lot of people will not sell until after the 1st due to not wanting to have Obamas high tax rate affect them versus Trumps tax cuts next year. I think it will be difficult to...

SalN Updated 

Daily Chart I think that we possibly bottomed (for the short term) for Jnug on the 20th. That would be a little over 30 days to end another left translated cycle. I think we could possibly get close to retesting the $3.80 level before starting a little two week pop. Evan though this does not look like a big move on the chart, It is actually quite a bit. IF...

SalN Updated 

TVIX Daily Chart SO I decided to start off with the TVIX chart. I measured the price movement of TVIX during the last rate hike which equaled out to approx. 150% which I measured on this chart from a starting price of $10. Then I measured the flash crash that occurred before that which equaled 250% which I posted. Some interesting things (maybe wishful...

SalN

Daily Chart I think that that was a great sign on Friday, Jnug up strong even in the wake of multiple days of great economic data. We broke out of the wedge and should move up with the Italy vote. But I think we will only reach around the $8.90 range before a little pullback. Then up hard to the second oval. At the end of the week or over next weekend we...

SalN Updated 

Nothing too difficult here. I think that Italy will vote to leave the EU and we will have a little correction. BUT, I just don't think it will be that great. I am aiming for the blue box. In other words, a retracement to the 38% to 50% then bounce right before the rate hike. I do not think this vote will be as great as the Brexit because it appears to have...

SalN Updated 

4 Hour Chart Time for a bounce yet? I think yes. But nothing too fabulous. The oscillators need to cool off because the next drop will be big. We are way oversold with a lot of bullish divergences. I think we arein the middle or our B pattern and the Fed hike should mark the beginning of the downward C. I also think that the December 4th Italy vote cold...

SalN Updated 

Daily Chart We are still on track and have not yet made a micro wave 4 correction for this larger wave 5. This is the last week before the Italy vote. It appears that we will move up until maybe Friday. The vote is on Sunday the 4th so we should see a day or two drop starting Monday maybe down to the 2206 range. Then we could see another sharp move up like...

SalN Updated 

It look like we are in a wedge inside of a developing bear flag. That being said, we could visit the upper part of that bear flag tomorrow at the $9 range before the next drop. The dollar looks like it wants to at least test the top of the break out area. So be ready for a short term pop.