Sunday, July 17, 2016

Megaphones The Sauceman and The Biggest Crap of Your Life

Once again the great sauceman is gracing us with his extreme knowledge. Long live the sauceman.


Tuesday, July 12, 2016

SPX has higher targets

There are a few fib extensions piling up at 2494. This could all be bs. However, as long as price keeps grinding higher the more likely price could reach it.
SPX CASH 2494 Target

More BS

Sunday, July 10, 2016

Gold, what does COT say.

Looking at commercial interest over noncommercial interest, both are at extremes. Commercial is the most short and noncommercial is the most long in over 20 years. The longer gold continues to trade higher with this extreme difference between commercial vs noncommercial traders could set up a huge move in gold imho. The more gold goes parabolic the harder it will fall. Commercial has much more money than noncommercial. If gold peaks and starts to continue its downtrend. Many noncommercial traders will be forced to cover. With noncommercial traders at a 20 year extreme of being long, it could be one hell of a move down. I am probably wrong. This rally could go higher. But the longer it goes up parabolic. The harder it will fall imo.
GOLD Weekly Chart COT

SILVER Weekly Chart COT

Monthly chart gold is at the top of a monthly TL of a possible channel.
Gold Monthtly Chart


Thursday, July 7, 2016

5X CHART INDU

See chart with notes. 

Consolidating at Highs

Not much to write about. All the dips are bought. Here is a possible setup that would have bullish implications where price could be testing highs by next week.
SPX CASH EW COUNT

Now to think price is going higher I should be ashamed of myself with reckless abandonment because the market is supposed to crash. I do not know. Just keeping an open mind. Not going balls long at current prices cause that would be just foolish. If price breaksout of current highs there are some lofty targets.
SPX CASH WEEKLY EW COUNT

Looking at a highs to highs fib draw there have been similar cases as currently. This time is not different as I was told this past weekend in a comment section on why silver was going higher.
SPX Monthly Chart #1       SPX Monthly Chart #2

Now the count which seems the most likely this is a B wave with a killer C down still to come. Who knows for I sure do not. What I do know. The 88.6 fib has killed all rallies since the may 2134.72 high. Why would this time be any different.
88.6 Fib Bull Rally Killer

The SPX is coiling up for a big move imho. Whatever direction it will break, it could be quite impressive. On a monthly chart the SPX is currently in its 10th month to date monthly squeeze. Since the 1974 lows there has only been two other times with a similar squeeze setup which lead to huge moves both times.
Monthly Squeeze