CHART PORN... Major Bullish Signals!

[Honey]

From our friends at SilverDoctors.com

"We have some serious chart porn for readers in the form of the 5-year weekly COMEX silver chart.
The 5-year chart indicates that the selling in silver appears to be exhausted near $26, and the recent trading pattern and various technical indicators are sending massively bullish signs for silver.
Momentum indicators are uber-bullish and confirm that selling is exhausted..."


LINK TO CHART PORN...

[II DALTON II]

You want chart porn?

Well here is the Gonzo of Chart Porn.



Been a while since I updated it. Might do it tomorrow if I have time, maybe an article too.

[Honey]

Who doesn't love chart porn?!! LOL!

[EL34]

Weekly silver - The MACD is starting to round up

An interesting bit about August

[Viper_99]

(07-20-2012 07:37 PM)II DALTON II Wrote:  You want chart porn?

Well here is the Gonzo of Chart Porn.



Been a while since I updated it. Might do it tomorrow if I have time, maybe an article too.

For all the none chart people, what is your chart telling you?

[II DALTON II]

(07-21-2012 11:29 AM)Viper_99 Wrote:  

(07-20-2012 07:37 PM)II DALTON II Wrote:  You want chart porn?

Well here is the Gonzo of Chart Porn.



Been a while since I updated it. Might do it tomorrow if I have time, maybe an article too.

For all the none chart people, what is your chart telling you?

It's telling me that we have more in common with 2006 than 2008 from a technical prespective. As long as TPTB can keep the stock market afloat during the elections and 1st year of the next presidency then we should see a very slow but steady uptrend form.

The descending triangle is still lingering in the background though, and this is a bearish formation. The algorithmic trading systems may try and play that out which could crash silver to the low $20's. I think this is the least likely playout now though. As others have said, selling appears to have dried up and there are strong buyers any time the price flirts with the $26 range. I'd be willing to say that smart money is re-entering at this range in anticipation of more fed stimulus late this year/early next year.

[Ivan]

That is sexy

[nodebt]

(07-21-2012 12:12 PM)II DALTON II Wrote:  It's telling me that we have more in common with 2006 than 2008 from a technical prespective. As long as TPTB can keep the stock market afloat during the elections and 1st year of the next presidency then we should see a very slow but steady uptrend form.

The descending triangle is still lingering in the background though, and this is a bearish formation. The algorithmic trading systems may try and play that out which could crash silver to the low $20's. I think this is the least likely playout now though. As others have said, selling appears to have dried up and there are strong buyers any time the price flirts with the $26 range. I'd be willing to say that smart money is re-entering at this range in anticipation of more fed stimulus late this year/early next year.

Thanks Dalton, I enjoy hearing your perspective.
I visit your website on occasion but haven't seen any charts posted there lately.
Am I looking in the correct place or have you not posted any?

[Viper_99]

Thanks for the explanation!

[II DALTON II]

(07-21-2012 04:30 PM)nodebt Wrote:  

(07-21-2012 12:12 PM)II DALTON II Wrote:  It's telling me that we have more in common with 2006 than 2008 from a technical prespective. As long as TPTB can keep the stock market afloat during the elections and 1st year of the next presidency then we should see a very slow but steady uptrend form.

The descending triangle is still lingering in the background though, and this is a bearish formation. The algorithmic trading systems may try and play that out which could crash silver to the low $20's. I think this is the least likely playout now though. As others have said, selling appears to have dried up and there are strong buyers any time the price flirts with the $26 range. I'd be willing to say that smart money is re-entering at this range in anticipation of more fed stimulus late this year/early next year.

Thanks Dalton, I enjoy hearing your perspective.
I visit your website on occasion but haven't seen any charts posted there lately.
Am I looking in the correct place or have you not posted any?

Most of the stuff I have posted this past month has been content provided by others to show my viewers stories of interest and things to keep an eye on. The reason I haven't done much writing/charting myself is numerous. Fistly I have had my hours upped at my day job and I am in the process of taking over a small business. On top of this I've had an old health issue return and that has caused me some problems. Suffice to say things are pretty hectic right now. Hopefully this side-business venture will pan out smoothly over the next month just in time for the Technical breakout in the charts. My colleagues should be getting back from holiday in the next 2 weeks meaning I won't be covering shifts so that will free up some more time too.

At this point in the game there is not much to say that hasn't already been said. It's Pennant vs Descending Triangle. Basically Operation Twist success vs operation twist failure.

Euro crisis has been priced in to most markets by now. It is the UK and US that can sway things in the western markets now. Keep an eye on Mervyn King and Bernanke. Their actions will determine which way it goes.

[Dom2012]

(07-22-2012 03:07 PM)II DALTON II Wrote:  Euro crisis has been priced in to most markets by now.

Has it .............? has it really ?!?! I couldn't disagree more, think there is way more trouble ahead from the Euro zone !

[Viper_99]

(07-23-2012 12:30 PM)Dom2012 Wrote:  

(07-22-2012 03:07 PM)II DALTON II Wrote:  Euro crisis has been priced in to most markets by now.

Has it .............? has it really ?!?! I couldn't disagree more, think there is way more trouble ahead from the Euro zone !

I agree with Dom - the Euro zone is just starting to crack - once the Danes run out fingers to stick in the dam the whole thing will explode.

[Dom2012]

Greece was the warm up act....now Spain will get people to sit up and take note.......then comes Italy !!!! with its "Gross external debt $2.223 trillion (30 June 2010 est.)" there just isnt the money to cover this kind of problem up ! you try pricing 2.2+ trillion euros of debt into the system and see if it doent crash by 50%

[II DALTON II]

(07-23-2012 12:30 PM)Dom2012 Wrote:  

(07-22-2012 03:07 PM)II DALTON II Wrote:  Euro crisis has been priced in to most markets by now.

Has it .............? has it really ?!?! I couldn't disagree more, think there is way more trouble ahead from the Euro zone !

Yes it has much further to fall, but I think a lot of hedge funds have the downfall of the euro in their forecasts. many traders I know certainly do and are sticking to US stocks and Eastern/developing nations stocks.

[II DALTON II]

Updated chart porn.



Breakout Test occurs next month.

If it fails we drop to around $21. QE3 is announced later this year.

If we manage to breakthrough we go into the low/mid $30's and face resistance at $35 - $37.50. Operation Twist 2.0 was a success in buying more time for markets. Problems occur mid to late 2013.

Just my take on things right now.

[Dom2012]

Yep there's still hope yet ..... this next week is going to be one hell of a fight for the bears and bulls !!!
   

[Viper_99]

[img][/img]

We are well into the high 26's today.

[Dom2012]

Just peeked over the trend line today ....still being very well behaved inside this pennant formation ! !!! lol

   

[II DALTON II]

(07-24-2012 11:19 AM)II DALTON II Wrote:  

I just got banned from Kitco for posting this chart. Nadler doesn't like it?

[EL34]

(08-01-2012 08:40 AM)II DALTON II Wrote:  I just got banned from Kitco for posting this chart. Nadler doesn't like it?

That does not make any sense
I have never heard of a forum that seems to ban people so often.
Maybe he does not like colored lines?

[Viper_99]

(08-01-2012 08:40 AM)II DALTON II Wrote:  

(07-24-2012 11:19 AM)II DALTON II Wrote:  

I just got banned from Kitco for posting this chart. Nadler doesn't like it?

Why in the world would you be banned for showing a chart? Personally I like seeing what you think is going on. Keep posting here!

[Viper_99]

Silver took another tumble back down!

[img][/img]

[EL34]

[quote='Viper_99' pid='17731' dateline='1343834491']
Silver took another tumble back down!

Just the usual crap before these meetings/speeches
FOMC, Fed and ECB

http://www.tfmetalsreport.com/blog/4066/...g-fedlines

http://kingworldnews.com/kingworldnews/K...tings.html

[Steve0791]

Today, the fed took down our silver price again. Dont be despair, just keep on stacking. I think metal price will go up this month due to debt ceiling issues whereas Dem and Republican fight like cat and dog.

[PM Montner]

Quote:I just got banned from Kitco for posting this chart. Nadler doesn't like it?

Jon Nadler and others at Kitco and their forums are hopeless idiots. Nadler has been making an ass of himself for years with his moronic and out of touch with reality analysis.