Silver breaking support *closing basis*

Dialy vs Weekly RSI on SPY

SPY on the daily chart is/was calling for at minimum a brief overshoot of it's previous near term high of 134 based on the daily RSI bullish divergence.  That objective has been reached and although we can leak higher over the coming days eventually the weekly bearish RSI signal will take over and it is calling for a major primary trend top with a minimum price move down to 110ish area on the SPY or possibly all the way back down to the 90ies. I consider the weekly signal to be a high probability bearish set up even though the 2 peaks that make up the pattern are spread over a much wider time frame than for example the 07 top was.  I consider this to be because of the HFT flash crash that distorted the RSI time/price relationship (as it relates to divergence signals)

JJC vs. GLD

comparing JJC vs GLD and the way their corrective patterns are tracying out, it appears to me that should things break lower GLD will come down hard off a broken spine kind of flush, suddenly and all at once. I've re-shorted GLD via long DGLD in anticipation of just that sort of move..

I see a massive air pocket..

I'm back on the sidelines regarding gold/silver/copper and tempted to trade the neckline break lower in gold down to the 1300ish area. I'm short equities once again expecting moves lower.
In the mean time it seems while everyone was trying to front run fed money printing stocks have build themselves up a nice little air pocket.  CRBQ is pointing the way lower as it contemplates breaking it's neckline and once the fed induced 1:1 correlation reasserts itself we may find ourselves sub 100 on the SPY.

Also notice how copper topped...

Interesting that copper topped out first before silver and then gold.  It so far appears as though it has bottomed first as well....

Copper priced in Gold..

Copper which is an ancient hard money (was diluted in the form of bronze mostly) when priced in another hard money asset gold appears to be in a position to out perform.  Copper also has the benefit of being a war metal (shell casing, ammo etc) and might also prove to be better than silver in terms of  a form of poor man's savings and less likely to be manipulated by central bankers, or suffer any unforeseen taxes that might come down the pike as the banksters begin to lose control of fiat.  The chart below is Copper priced in Gold and suggests it has room to rise back in line with it's monetary cousin.

Forget it the pm's are massively bullish...

Was expecting a smash and grab style plunge into the 1300ies in gold but apparently it's not trying to hear it.  This pattern failure suggests massive price support to the upside. I covered all short positions and flipped long into October time frame gold via NUGT and copper via JJC... staying away from equitites...
Also the below chart has closed back into "trend change" territory which suggests at least sit out on the sideline for now...  this of course is just my opinion and is mostly likely wrong.

Gold down channel still intact..

I assume gold moves based on bankster/fed insider info..  so why is it marking time within the down channel ?
I'm still bearish on gold though aware of what it means should the patterns fail...

CRBQ already sticking a toe over the edge..

JJC reminding all what time it is..

Copper  via JJC is sitting dead on the right shoulder of a massive H&S who's beginnings go back to the 08 crash lows. Gold is attempting to break away from it's price fate (Chart pattern failure?) which if it succeeds means run away, ala gaps and massive lights out kinds of moves higher... much much higher. Nothing portends future moves like a chart pattern failure. I'm about to flip to long gold if  JJC doesn't break the neck line soon.

Silver revealing what's next in gold ?

Interesting that silver is tracing out a triangle at long term support and to my way of thinking is giving advance warning of which way gold is about to go.  I'm reading it as a continuation flag affair which is coiling up before it blows through support and much lower and gold will follow....

AAPL about to blow chunks?

AAPL rolling over off of the fib. 618 of the 2nd (and lower high/ lower low) leg down.  I'm expecting 530 to be breached and the trap doors to open... Watch for anything with a gain for the year to get dumped soon....

(This of course is just my opinion DON'T follow me)

JAP 225

If the /ES were to mimic the Jap 225 it would have to fall to 1060ish to catch up...

AAPL 530ish target and margin trigger...

I'm thinking once 530ish gets blown out to the down side in AAPL  we'll start to see the panic margin selling of all assets commence with gusto...

UGA almost at my target...

UGA is almost to my downside target and is the primary signal that I was planning to use to flip my positions over....

1620ish very interesting area of resistance on the 5 hour chart

Gold clearing stops out before turning lower...

Often times price will rebound back to the apex of the previous traingle (time wise).  Today would be such a day. Today's action would be a perfect bull trap, as well as bearish stop clearing operation which sets up wild 100 to 200 dollar swings or outright crashes lower in the gold price. I don't think we will see a bottom  in /es or the commodity complex in general until the margin calls start impacting gold negatively.  I'm going to use the plunge in gold down to the 1200ish to 1300ish area to tell me when to cover my etf shorts in stocks and gold....