Gold is down another $25 this morning, while Silver is taking the heaviest losses of the Cycle. As Silver led the Cycle and has for the most part avoided any significant decline, this must now be the final decline into the 2nd DCL. Traders should focus on the opportunity at hand and ignore the severity of the decline. The Financial Tap members know that this remains a normal and expected decline; they’ve been following the last few Cycles play out to expectations. In the past weekend premium member report I wrote:
“Until the current Daily Cycle completes, the immediate trend remains to the downside. We are 3-5 sessions from a low in the current 2nd Daily Cycle. This event is within our framework of expectations; Daily Cycles have ended every 24-28 days for many decades. When the next Daily Cycle (the 3rd) gets underway, I believe that the bear case for Gold will diminish considerably, and we’ll see a rush into the metals that will drive price significantly higher. “
Today is the 3rd Day (since that report) and now within the expectations for a Cycle Low. Gold touched $1,357 (within my expected $1,350-60 range) this morning and within the timing band for a Cycle Low. Technically too this Cycle is not necessarily at oversold (Cycle Low) levels, but again deep enough for a bullish Cycle to qualify. So there is a decent chance that today will mark the DCL, but I still advocate that traders be patient getting overly long; DCL’s can get nasty and overshoot the mark to the downside.
Traders/investor should not lose sight of the bigger picture here; gold is still likely to exceed the $1,500 in the coming month. That's would mean a 3rd straight bullish Cycle with well over $100 gains, and that's where the opportunity lies! This report (Gold is Finally Ready to Launch) published over a month ago, outlines what unfolded in the prior Cycle along with the expectation for another big Cycle to come.
The Financial Tap publishes two member reports per week, a weekly premium report and a midweek market update report. The reports cover the movements and trading opportunities of the Gold, S&P, Oil, and $USD Cycles. Along with these reports, members enjoy access to three different portfolios and trade alerts. As these portfolios trade on varying timeframes (from days, weeks, to months), there is a portfolio to suit all member preferences.
You're just 1 minute away from profitable trades! If you’re interested in learning more about The Financial Tap and the services offered, please visit https://thefinancialtap.com/landing/try#
Free Report – Complete the form below
A New Cycle Approaches – Gold
/in Public /by Bob LoukasGold is down another $25 this morning, while Silver is taking the heaviest losses of the Cycle. As Silver led the Cycle and has for the most part avoided any significant decline, this must now be the final decline into the 2nd DCL. Traders should focus on the opportunity at hand and ignore the severity of the decline. The Financial Tap members know that this remains a normal and expected decline; they’ve been following the last few Cycles play out to expectations. In the past weekend premium member report I wrote:
“Until the current Daily Cycle completes, the immediate trend remains to the downside. We are 3-5 sessions from a low in the current 2nd Daily Cycle. This event is within our framework of expectations; Daily Cycles have ended every 24-28 days for many decades. When the next Daily Cycle (the 3rd) gets underway, I believe that the bear case for Gold will diminish considerably, and we’ll see a rush into the metals that will drive price significantly higher. “
Traders/investor should not lose sight of the bigger picture here; gold is still likely to exceed the $1,500 in the coming month. That's would mean a 3rd straight bullish Cycle with well over $100 gains, and that's where the opportunity lies! This report (Gold is Finally Ready to Launch) published over a month ago, outlines what unfolded in the prior Cycle along with the expectation for another big Cycle to come.
The Financial Tap publishes two member reports per week, a weekly premium report and a midweek market update report. The reports cover the movements and trading opportunities of the Gold, S&P, Oil, and $USD Cycles. Along with these reports, members enjoy access to three different portfolios and trade alerts. As these portfolios trade on varying timeframes (from days, weeks, to months), there is a portfolio to suit all member preferences.
You're just 1 minute away from profitable trades! If you’re interested in learning more about The Financial Tap and the services offered, please visit https://thefinancialtap.com/landing/try#
Free Report – Complete the form below
Market Message
/in Premium /by Bob LoukasYou don’t have access to view this content
Another Step Closer
/in Premium /by Bob LoukasYou don’t have access to view this content
Don’t Fight the Trend
/in Public /by Bob LoukasWhen it comes to the Daily Cycle, especially 1st Daily Cycles from a series of up trending Investor Cycles, there is only so much downside one should expect. That’s essentially what we have in the equity markets, a long history (4 years) of 1st Daily Cycles finding the necessary bid to power out of Cycle Lows.
In this particular case, there is now little doubt that a new Cycle is underway. The Cycle extended out to 46 trading days (4 more than normal) and was technically a much deeper correction than one would expect. The oscillators have turned higher, the MACD should cross within 3-5 sessions, and the S&P is back above its 10dma. A little more strength and the trend-line will be broken too.
Those are some formidable odds for the bears, and I see no reason why one should go out on a limb by trading against those odds. This is why I expect a move to 1,690 should be easily achieved in the coming weeks. Beyond that a test of the all-time highs and a surge into the 1,700’s simply cannot be ruled out.
The Financial Tap publishes two member reports per week, a weekly premium report and a midweek market update report. The reports cover the movements and trading opportunities of the Gold, S&P, Oil, and $USD Cycles. Along with these reports, members enjoy access to three different portfolios and trade alerts. As these portfolios trade on varying timeframes (from days, weeks, to months), there is a portfolio to suit all member preferences. If you’re interested in learning more about The Financial Tap and the services offered, please visit https://thefinancialtap.com/landing/try#
Free Report – Complete the form below
Midweek Market Update
/in Premium /by Bob LoukasYou don’t have access to view this content
Distant Rumbling
/in Premium /by Bob LoukasYou don’t have access to view this content
Buy on Cannons
/in Public /by Bob LoukasIs the Syrian rhetoric really to blame for this more than expected weakness, I highly doubt it. In fact I can barely keep a straight face thinking how ludicrous the idea that potentially striking Syria is bringing the equity markets down. The simple fact is that this is weaker than expected action for a 1st Cycle Low decline and there appears to be some significant distribution occurring in this market now. I firmly believe that the more dominant weekly and monthly Cycles are topping out here, but one should not expect the equity markets to simply roll-over. We’re still seeing a massive influx of retail and margin debt capital which will continue to sustain these markets for the immediate future.
For time being though sentiment has reached fairly extreme (negative) levels and the Cycle has stretched to 46 Days (Average is 38 to 42 days). Based on the recovery this morning and now a confirmed Daily Swing Low we have to assume that we just left behind a slightly stretched (46 days) Cycle making this just Day 1 of a new Cycle.
The Financial Tap publishes two member reports per week, a weekly premium report and a midweek market update report. The reports cover the movements and trading opportunities of the Gold, S&P, Oil, and $USD Cycles. Along with these reports, members enjoy access to three different portfolios and trade alerts. As these portfolios trade on varying timeframes (from days, weeks, to months), there is a portfolio to suit all member preferences. If you’re interested in learning more about The Financial Tap and the services offered, please visit https://thefinancialtap.com/landing/try#
Free Report – Complete the form below
Midweek Market Update
/in Premium /by Bob LoukasYou don’t have access to view this content
Weekend Update
/in Premium /by Bob LoukasYou don’t have access to view this content
Midweek Update
/in Premium /by Bob LoukasYou don’t have access to view this content