My choice for the next major bull market — target of $17,000 per futures contract

 

But it is up to you to figure out what the market is.

Once every few years a market sets up whereby the fundamentals harmonize with the longest-term chart, which harmonizes with the weekly chart, which harmonizes with the daily chart.

The quarterly chart shows that this market completed a 34-year base in 2008.

5.20_quarterly

The weekly chart shows that the market formed a 42-month triangle that retested the massive 34-year base. This triangle was completed in 2012.

5.20_weekly

The decline since September 2012 has served as a retest of the completed triangle. The daily chart displays a possible 8-month continuation rounding bottom pattern. A decisive close above noted upper boundary of this pattern would set the stage for a magnificent bull trend. The target of this market set up would be a move equal to $17,000 per futures contract.

5.20_daily

 

#??????, #MYSTERY

 

Is the Canadian Dollar about to be hockey sticked

Major bottom in the USDCAD (top in Canadian Dollar futures) is possible

I will let the charts speak for themselves with minimum commentary.

The monthly USDCAD chart shows that the USD is near historic lows to the CAD. The weekly chart shows a possible massive H&S bottom with a complex H&S bottom serving as the right shoulder. The weekly chart of the CAD futures displays a massive possible H&S top with a H&S top as the right shoulder. A decisive close by the nearby futures below the .9572 low is needed to complete this pattern.

5.17_CAD_weekly 5.17_USDCAD_weekly v2 5.17_USDCAD_weekly

#CANADA, $USDCAD

###

The latest charts for Gold, Silver and Platinum — Look Out Below!!!

 

Another leg in the bear market is in progress

The charts speak for themselves

The target in Gold based on the weekly graph is in the mid 1200s. The correction rally ended on May 13 with the completion of a small H&S top pattern on the daily chart.

5.15_GC_daily

5.15_GC_close up

The Silver has a swing target of the mid $19s. By the way, the attainment of the targets in Gold and Silver will produce a Gold/Silver ratio of 64 to 1. The market is apparently not listening to some Spanish king from the 1500s who declared the ratio MUST be 20 to 1. So much for Spanish law! By the way, I have a challenge to all you Silver bulls who somehow make a distinction between “paper silver” (futures) and physical silver (including certain ETFs). Walk your shares of your ETF into the ETF underwriter and ask to exchange your shares for physical Silver. You will be told that all your ETF represents is “paper silver.”

5.15_SI57_daily

Platinum is slow coming to this party. The recent correction has retested important resistance on the weekly chart. The daily chart displays a possible symmetrical triangle. A completion of this triangle should lead to a test of the recent low.

5.15_PL_weekly

5.15_PLN

$GC_F, $SI_F, $GLD, $SLV, $PL_F

Magnificant trading wisdom from 2,400 years ago

 

If you are a trader, you will relate

 

When an archer is shooting for nothing . . . he has all his skill.
If he shoots for a brass buckle . . . he is already nervous.
If he shoots for a prize of gold . . . he goes blind;
or sees two targets . . . he is out of his mind!
His skill has not changed.  But the prize . . . divides him.  He cares.
He thinks more of winning than of shooting . . . 
and the need to win drains him of power.
            – Chuang Tzu, 400 B.C..
If you do not relate, then you are not likely a trader.