goodguy

goodguy Updated 

As the us dollar has been correcting up the gold miners has begun correcting down. I'm trying to get a handle on the bigger picture. On the weekly log chart it looks to me like a cup and handle or inverse H&S with the right side higher than the left which I believe is bullish. And to me it looks the handle of the cup is now forming possibly as smaller inverse H&S...

goodguy Updated 

Cup and handle.

goodguy

I follow the US dollar as it effects the metals and oil. Here is a update from 3 months ago. I still favor we are in a bullish correction which may end soon. The target box shown here is a .62-.84 correction of "1 down?" For how this fits into my longer term guess of what is going on you can see the links below. Have a good day and weekend.

goodguy

A month ago when the Dow Industrials was at 19804 I suggested a likely target of 21000-22500 (see link below for discussion at that time and longer term charts). This morning we entered the lower end of the target box I suggested so I thought I would update the channels that I drew starting in about 2010. With the most recent up going channel starting 2016...

goodguy

Now that GDX the miners has fallen into the target box I gave a few days ago (see link below) I wanted to take a look at gold as well. Longer term I am expecting to to break out above the overhead resistance but it could take awhile given the amount of resistance ahead (see weekly chart.) To me it is interesting that the weekly RSI had a long term bullish...

goodguy

A rise to about 80-85 seems likely to me if it can break out of the "Resistance Zone".

goodguy

Natural gas is such a great clean source of energy. A favorite for homes. Likely someday will power cars as well. Hard to believe longer term it will not become more expensive. But currently clearly in a shorter term downtrend (down about 5% today so far). Looking at the daily chart it looks like we have already had a 5 wave up move and are now are in a abc...

goodguy

I've taken a small long position. Apply your own approach.

goodguy

I was happy to see IWM break up. (see link below). Looks to me the 143.5-147 level is a reasonable target. Feedback always welcome. Have a great week.

goodguy

Whether you call this formation a triangle or a bull flag I think likely it will be breaking up soon. Watching for breakout.

goodguy

You folks trade the currencies much more than I. Wonder what you think. I am thinking the dollar may get a bounce then big fall. Just trying to plan ahead. Could use help from the pros.

goodguy Updated 

Limited partnership with 10.8% yield. Has broken long term downtrend line. My target is around 57-60 based on 2 methods. Could use uptrend line as stop. Process by your own approach.

goodguy

Here is the way I see it. Generally (but not always) when prices rise into a triangle they rise coming out of it.

goodguy

If this holds to the close with reversal candles for the day would expect we likely will be in for a correction giving us a great buying opportunity.

goodguy

Process your way. But I like it. IFFF my count is correct may break out up. We'll see. seekingalpha.com

goodguy

Take a look. Process your way. Take care.

goodguy

I don't think the soon to be President Trump excitement is yet over. Based on EW structure, pattern projections and parellel channels I think we may well see a Dow of 21000-22500 before this bull dies. See previous chart posted today. On the daily chart I give the level where wave 5 = wave 1 which is a common relationship. Also note the big spike in volume...

goodguy

9 months ago I posted a long term chart (link below) suggesting the top may be in using a Fib fan (one fan that I have tried where most of the major turning points actually seem to relate to the fan). In that chart I showed another option of continuued up move. That up move which we are in now seems likely to me could go up to the next fan line level which is...