Westpacific Technical Charts

Glenn Burnett Rank: 54 Followers: 15 Votes: 63 Years Member: 0 Last Update: 23 August 2017, 9:33 Categories: Elliott Wave Analysis
Gold / Gold Stocks


0 POLA - Daily Candlesticks, 700

-Catch this on my Big Five Sporting Goods buy of yesterday; On the Fri 15 Sep 2017, Big 5 Sporting Goods (NASDAQ:BGFV) will pay shareholders of record a dividend of $0.15 per share, but investors must have settled ownership of the companys stock by the Wed 30 Aug 2017, in order to qualify. Attractive yield of 7.03%, which is high for a retailing stock. There has been some buying insider activity on BGFV recently. Van B. Honeycutt, Director disclosed the purchase of 48,000 shares of stock. Chart 5/1
-Many laughing at Harry Dents 400 gold call, not us! Here is the clip, Infowars fyi I never watch and cannot stand. However I agree with gold lower; 400 do not think we go that low; our target is 866.
-Gold; Nikk/Gold; XJY all remain on a buy signal. There is zero question in my mind that the Yen will fill its gap at 93.50 and more then likely tag 62% retrace at 94.28.
-4 trading days into the timing window...
-cracks all over this market; going to pullback into that 62% Fib, then should rally hard into a late September top, perhaps a week to go on the downside...

1/1a $GOLD - Daily Candlesticks, 1280

-I feel like you are more effective if you block a lot of that stuff out and try to ignore what everyone else is doing - Set your own path.' Chad Hurley founder of Youtube!
-Original thought was for gold low early Febuary 2018, but the Yen is signaling bottoming more like middle of 2018...unless gold unhinges early from the YEN; we trade the chart.

1/1a $XJY - Weekly Candlesticks, 1280

1/1a Reuters/Jefferies CRB Index (EOD) ($CRB)

1/1b GDX - Weekly Candlesticks, 900

1/1d POLA - Daily Invisible, 1600

Energy Producers XOP, BP, for example, recently admitted that its finances will not breakeven unless oil trades at roughly $60 per barrel. Recall that the initial trigger for the global financial crisis was about $US500bn worth of losses on US mortgages. Gave cites figures [showing] that through the magnifying effects of derivatives markets, that wiped some $US7 trillion from global GDP and $US28 trillion from global equity markets. View the US$5.4 trillion alternative energy sector debt, mainly associated with the US fracking boom, through the magnifying effects of derivatives and you begin to see the scale of calamity soon to befall the worlds financial institutions.
-I ran over 300 balance sheet in this space; the debt load is incredible high; the above is very true, it is something you never see in the news and no one talks about it; we do.

1/1e Japanese Yen - Philadelphia ($XJY) 3

1/2 $USD - Daily Candlesticks, 900

1/2 $XJY - 1 hour Candlesticks, 900

1/2 Japanese Yen - Philadelphia ($XJY) 9

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