Inverse H&S like pattern on 60 min could be breaking out.  May be the weak rally to resistance (broken trend line) I'm looking for.

NEM, AEM, AUY, PAAS (silver) a few that are above/flirting with their 9EMA and 20SMA.  Seem to be holding up.

If you look at it as a H&S or triangle pattern, it measures down nearly 50 cents ($3.83 - $3.33 give-or-take)!  The big question is do we get a weak rally to the broken trend line to put on some shorts.

Thanks, seems to be what I'm reading as well.  Guess it's best to keep some cash in the mattress just in case!

Sure does look like a bear flag outside the triangle

Anyone know if credit unions in the US offer better protection against government confiscation as seen in Cypress?  Just curious to see if it would make sense to keep some savings out of the "bank".

There has been much chatter about GDX bottoming and methods for going long.  Looks like several of the criteria discussed are coming to fruition on the daily chart (shown).

1. Bollinger Band buy signal set up.

2. MACD cross over confirmed.

3. RSI 8 crossing (or about to) 50.

Not shown on my chart but relevant is the GDX:GLD ratio trend line (not broken).

Matt, which of these signals would get you "excited" about GDX?  Would you place a stop below the $35.57 low? Also the 60 period stochastic are below 20, would you use that as another confirming indicator?  Just trying to tie all the information together as I'd like to buy GDX when the odds are favorable.  Thanks!

Filled the gap and then some.  Now bumping up against the tight upward channel.  Thinking a pullback into a higher low may be a good entry.  Matt or Steve, do you have thoughts on this?

I hope you're wrong Matt.  But just in case, I've been looking at high mileage vehicles since the beginning of the year.  May have to go long the ETF or futures to offset the fuel costs!

Been coiling all week per the 60 min chart.  Which way will she go????

The BB buy signal was discussed with GDX in last night's newsletter.  Two individual PM names that fit this profile are AEM and PAAS.

big moves the last two days

Hanging out below the broken up trend line, perhaps a bear flag forming as shown on the 60min chart.

If we are trading some of these patterns, would you generally recommend a stop below today's lows?

As Steve mentioned in the newsletter.

http://www.moodys.com/research/Moodys-downgrades-UKs-government-bond-rating-to-Aa1-from-Aaa--PR_266844

I know, what a joke!  Thats TD Ameritrade for ya.  Perhaps its because it was after hours, I'll take another look when the market reopens.

OIH and XLE not available to borrow at TD Ameritrade (thinkorswim)!

Just a follow on as Euro and USD are linked.  Euro futures sitting at support on daily.  This chart looks a lot different that the DXY shown earlier.

Hawkish Fed comments spiked the dollar upward.  This cleared out the MACD negative divergence on the 60 min, but not yet on the 240 min chart.  Price is near resistance.  

Daily chart looks like a H&S pattern, but the right shoulder looks too long to me.  In fact, it looks a little bullish with the MACD turning up and clearing 0.  Makes for an interesting watch as I don't think the masses are looking for a USD rally (which would extend PM losses and correct the stock market).