Gold, Silver, and Indexes Using Price Action

GLD is finding demand any time it ventures below 115. Notice the DB bounce around 110 and now price pushing upwards. This is a sign of strength.

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GDX is also not sitting there as a weakling. Is something changing underneath the surface for these markets? There was a higher low and we'll see how demand behaves around 22.

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Gringo
 

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Q is returning the the BO level. If I see price firm up and show strength there's a chance I might take a long position around here. The price risk is lower here but information risk is pretty high. Fed is also expected to talk so we never know how this might end. Usually Fed days are dead days but this has given a pretty clear cut BO + RET. All that's left is the strength to re-emerge.
NQ is around 4462.

Ok. I am going long here as there is a stirring of some demand. Obviously the future is unknown.

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Gringo
 

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Patience

O Patience! you mighty god of wealth
Inaction, your chosen weapon of stealth

Hold my hand while I eye the fruit to ripe
My greedy fingers trembling to take a swipe

Ah! the same old wind, the familiar current
Dinghy and the storm; dark clouds a deterrent

Meandering through mind, swirling winds that hound
Shrouded in dreams, hopes of grandeur abound

For a peek through the fog of nefarious delusion
Take patience to spouse and end the illusion


Gringo
 
Price is acting as if demand is on a respirator. If things don't improve fast enough I'll have to scratch this one. 4452 - 4463 is a small TR that might give a clue.
 
Buy1Sell2 said:
Throw the RSI on your charts and you'll quickly see why you can trade without the over-analyzing--Good Fortune to you--Izzy
More...

It's a wonderful suggestion. I had RSI on my charts a few years ago. Lets just say I've outgrown that itch.
 
Today was an exciting day. My stops got triggered in my absence. I had no plan to deal with the developing weakness. Failure of long meant I'll be waiting now to see what transpires. Either closer to the TC or some support which I can't see.

The salient thing was the price not pushing closer to TC and turning in advance. This considering the bounce from the median was strong is a bit confusing, maybe telling. This bull market around that kind of behavior hasn't really happened much prompting me to not take the short. I'll have to catch the next train when it comes. The summer is here and who knows if things are going to slow down or not.

I am expecting to get busier during the summer. This means even less time to see price. I'll have to set my stops and trust the trading gods even more.

This one took donations from my pocket!

Gringo
 
This is quite an interesting time for learning this climactic behavior. The analysis is aptly given by Db here. Of course this is for my own reference.
 
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