Wednesday, October 7, 2015

[JNUG] update

Yesterday's model from the backlink is shown below.  It expected a gap fill 2nd wave and then a vee reversal back up.



Below is actual and I think it is following the model pretty well so far.  We had an AM shakedown into C of 2 followed by an AM reversal which is generally bullish.  I bought the dip as planned and am hoping for a gap up tomorrow early on to break out of downsloping resistance mentioned in the back link.  This would give notice to gold watchers that things were beginning to move and it would be like ringing the dinner bell for the momo crowd which doesn't make any move until the main body of the herd has already made the turn.

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