SalN

SalN Updated 

Dollar Daily Chart I wanted to start off with the Dollar chart because this week something happened. The dollar broke to new 13 year highs. And from my point of view, that changed the count for the dollar. By changing the count, I worked out as best that I could what to expect in the near term future. First lets look at Fib #2. Fib #2 shows the 100% level...

SalN

Dollar daily chart With the dollar making new highs today, One has to wonder if the count was wrong. If the count was wrong and we are only in wave 3, which it is starting to look like, then we could go up to 103 before correcting down to the newly made strong support. That would also make sense for an even higher wave 5 into the end of January which would...

SalN Updated 

Daily Chart Well so Far so Good. We still have room to run, but to how high? I measured the height of this move over the last two days. Then I extended it and it reached that resistance area up around $12.27. My thought on the issue is that tomorrow will kind of give me an idea of how the next three or four days will go. Today was very promising. The...

SalN Updated 

Wow what a push. We completed micro wave 1 of the larger wave 5. We are consolidating in micro wave 2. Not sure where that will stop but it looks like it wants to walk along the top of that blue wedge. Then a real big push up for micro wave 3 should occur next. And by the looks of Wave 1, I would say it should hit the top of that black upper trend line. That...

SalN Updated 

Daily chart WOW! what a drop! And with a pretty strong close. Huge sell volume. But my $6.35 buy order did not get filled yet. So I am going to wait. Look at the oscillators and compare them to the October 5 - 7th price action. Hints that we may hit that line at around $6.25. And the COT report cut off is this coming Tuesday so we could bounce and then...

SalN Updated 

So just about every analyst was taken by surprise by this drop. We had a right translated pattern and was not suppose to drop lower. Hell, Trump won with protests in the streets and we were not supposed to drop lower. So ask yourselves, what does this smell like. To me it smells like the big money/banks are going to make this thing bleed more. But maybe not...

SalN Updated 

Daily Chart SO we filled the gap today. That really blows. I was soooo looking forward to this spiking for a couple of days and then filling the gap a few days later. But then I guess THEY knew that already. So I guess in hindsight it is no surprise that it did the opposite. It was amazing to me to see the craziness of the markets during the election only...

SalN Updated 

Daily Chart If Trump wins tomorrow, (and I have this strange feeling he will), then gold should shoot up in a similar price action pattern like the June Brexit. It will probably gap way up, maybe even fill the gap, and then pull back to the bottom of the channel by the end of the week only to climb for the rest of the month into December. If Hillary wins,...

SalN Updated 

Daily chart So just as I thought, a huge huge GDP report. And no I am not one of those people that thinks that it was priced in or anticipated to be a good report. If you follow along with stock twits, almost everyone (sentiment) was thinking that there was no way we could get up to even the forecasted 2.5%. But 2.9% is really a surprise. Yet we went on a...

SalN Updated 

This just in!! If true, be careful tomorrow!! King World News just reported that an associate of George Soros leaked info that the US GDP data tomorrow is going to be slightly better than the forecast. The forecast is for GDP to have risen up to an astounding 2.5% from 1.4%. I think that would be a huge jump. But KWN reported that it would come in at a...

SalN Updated 

1 Day Chart Are we about to start wave 5? I say yes and I am excited for it. If wave 5 is the same or bigger (as I have heard some analysts say for commodities) than wave 3, then I have worked out two possible price targets to reach probably Tuesday or Wednesday. A 100% Fib gain of wave 3 is approx. $16.58 which is coincidently right at about a resistance...

SalN Updated 

4 hour chart for S&P 500 So as promised, here is my take on the S&P 500 and where I see things moving in the next two months. I feel very confident that we have just completed the 4th corrective wave of this 5 wave impulse. As you can see, this 4th wave is shallow and complicated. And the 2nd wave (Brexit) is deep and cleaner. So all that is left is the 5th...

SalN Updated 

So I am going to start off with the Daily chart. Then I will post another chart on a 2 hour time frame. The Daily chart is so we can zoom out to look at the bigger picture and moving averages, ect… Remember, market analysis is all about trying to predict the most probable price movement to guide us in making better trades. I was at almost 100% for Gold until...

SalN Updated 

4 hours chart Lets start with what I got right. Non-farm payrolls was a miss and unemployment ticked up to 5% and as a result of this poor data, yes we gapped up at the open. I was saying between $1 and 1.50 and it was $1.21. But then down she went. So what went wrong? Yes its manipulation. Just about any other time of the year when we get numbers like...

SalN Updated 

2 hours chart As my data changes, I will update posts and charts as early as possible. Is anyone not confident that we go up? I believe we had our bottom today and a nice reversal. Gold should follow soon. I believe that we are going to get some economic data in our favor either tomorrow, but most likely Friday, that will launch this thing. I am looking at...

SalN Updated 

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...

SalN Updated 

3 Hours Chart Well this is the first week in the last several weeks that I did not hit my mark. We gapped up and that looked like a strong opening but then went down the rest of the day. Can’t be right 100% of the time. But I am still confident that we will go higher in the coming couple weeks. 1st – lets address the yellow arrows that I put in my chart...

SalN Updated 

I wasn't going to post another chart until Friday but after reading my update, it seems easier to follow along with what I am saying with the updated chart as well. Ignore the Pink arrows and boxes, that's just for me to keep an eye on. well price dipped below the major trendline today, signaling that sometime in the not too distant future it will drop below it....