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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk
SOXL 43.26+3.7%Dec 22 4:00 PM EST
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To: kapex who wrote (163965)11/30/2021 12:55:56 PM
From: kapex  Read Replies (1) of 207418
 
Gold update.

So right now....gold has had an inside day yesterday and an outside day today.
Its already outside yesterdays high and low so this consecutive day of that won't change.

The way this technical guy explained this to me in 1985-6 was that a back to back in and out or both in or both out showed that a really big move was imminent.

Now.... we've Already had a fairly significant drop from the recent high.
That was (telegraphed) by the series of these days.

Its not like these things happen All the time.
Just look at the daily chart I gave the link to yesterday.

Again.....expanding on what I said yesterday, sentiment is a bit frothy and the cot's were lopsided with the Comm's being very short.

Anitger big decline from Here....would definitely turn sentiment negative.
Especially if the commercials cover their shorts into a decline.

Obviously, that would make the wave structure demand another look and see what that says.
I like to look at the wave structure last.
Especially during times of dramatic moves.
More on the down than the up.
Its easier to see a final 5 waves down into fear when the other tools line up ahead of that.

So whats the update?

Another big move is coming.
My *guess* is that maybe another swoon.
As Don just said.
The uglier the better.

We'll C
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