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Cycle Trading

Any Way You Look At It

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Any way you look at it, gold is in a failed daily cycle.

gold dailyhttp://postimg.org/image/xrtwbkev9/

Gold did print a large Buying on Weakness number today. Typically if a BOW number prints it usually does so near the cycle bottom. So this has me wondering if Thursday was day 12 instead of day 5. But either way gold has printed a failed daily cycle which signals an intermediate cycle decline.

Meanwhile, stocks took a beating today.

spxhttp://postimg.org/image/l2zlrw8qt/

Stocks dropped a whopping 2% on Thursday, which was day 34 for the daily cycle. Stocks are just about 5 handles away from printing a failed daily cycle. A failed daily cycle signals an intermediate cycle decline.

If a failed daily cycle materializes here that would be a cycle anomaly due to the day 29 peak. However the huge 852 million Buying on Weakness today suggests the Big Boys are positioning for one more push higher. That would align with our cyclical expectation of a right translated intermediate cycle being followed by another weekly cycle that prints a higher high.

4 responses to “Any Way You Look At It”

  1. mika. (@mika2k1) Avatar
    mika. (@mika2k1)

    “But either way gold has printed a failed daily cycle which signals an intermediate cycle decline.”
    ==

    Hmmm,.. I just have to smile. Now we need to learn to get into the mind of those who are buying, because they obviously know our mind.. 🙂

    https://www.tradingview.com/x/pYFKRIDA/
    (Remember, the name of the game is to buy low and sell high. Never forget that!)

    Reply
    1. pk34145 Avatar
      pk34145

      mika, is there a blog that you post your charts to on a regular basis where I could watch your work?

      I invite you to post on this forum http://www.bullbeartalk.com/forum/lounge/2006-weekend-thread-aug-2nd-one-has-potential.html

      Reply
      1. mika. (@mika2k1) Avatar
        mika. (@mika2k1)

        Thanks kindly for the invite. I do post charts during conversations on my twitter feed, but they are up only for a short time as I delete them within hours.

        The problem with publishing such info is that it can very easily be used against you by people with deeper pockets than you. As an example: they’ve been running stops in Gold. To me, that’s very obvious. It also tells me that they’re very interested in buying the weak hands.

        As I alluded to in my post above, charts are helpful and can provide many clues, but you really need to understand how big money thinks and the mechanics involved when they take action.

        Large Commercial Buying:
        https://www.tradingview.com/x/xf4OKXlp/

        Notice how both horizontal and angled trend lines were violated by the recent price action. But buying by the large commercials continues.

  2. Weekend Thread – Aug 2nd – This one has potential

    […] where is trendline.jpg There has been a lot of "speculation" on just what daily cycle gold is in. Any Way You Look At It | Cycle Trading It depends on where the correct location of the daily trendline is […]

    Reply

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