Mallett Share Discussion Threads

[11_percent] 22/9/2020 11:35

Gold blog. (I use the data from the IG graphs).

Two parapgraphs, which look both ways.

Gold and US shares (particularly S&P) are locked together and locked with the inverse of the US$. The corelation is so tight that it can only be algos running it.
The algos must be owned by the major banks or even the FED.
It looks like the "tight wedge" was a trap/setup, to crash the price.

Saying we now have support at 1865.
We are sitting in 1905.

Saying if we break 1865......next is 1805....and a daily close under that = sustained decline.

Lets see.

[11_percent] 22/9/2020 11:23

a57,

Will post the latest on gold and then reply.

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Monday 21/09/20 – Gold for the week 09/21/2020

Gold has also dropped sharply here during the week of 09/21/20 dropping to the 1885 level.

The last low was 1865 which interestingly is the same number technically for support this week.

Gold has been trading with the stock market and has been forming a very tight sideways wedge.

A break of the last key low of 1865 would imply a drop to retest the 1805 level and for a more sustained decline ahead, we need a daily close below 1805.


There is also a risk of a high being in place which would be a 21-year high.

We will lay out the prospects for gold in the face of this very serious attempt to use climate change and fake virus pandemics to ompose this great reset.

[atlantic57] 21/9/2020 16:55

Eleven what do you make of the latest posts from Mae today on the indexes.
I read it that he is implying the markets will fall all the way down to 2022.

I haven’t got the skill to go short.However as soon as the fed decided not to provide
Any more money printing it struck that both gold and indices would head south at pace.
This is now unfolding.

As the fomc won’t meet again until after the election there seems little reason for the markets to recover .

As for gold I am now following daily gold and they suggest that gold has further to fall.

[11_percent] 20/9/2020 22:59

Yes....the meeting did not say anything new.
People are putting this down to the up cpming election.....with next meeting a day after the election.

[atlantic57] 16/9/2020 20:23

Today’s Fed Meeting appears to be a damp squid.
There do not appear to be any new announcements.

On that basis I would expect markets to fall in both gold and the stock inices

[11_percent] 16/9/2020 08:40

Yes, it diid call 31/8....and I did take note. but did not take any action on it as you say there have been so many wrong calls.

However, since the "tempory high" I have trimed my US market longs.

[atlantic57] 14/9/2020 21:41

Socratese I think does seem to look at support and resistance levels to interpret what is likely to happen.

It did call the 31/8 accurately but after so many false calls you would have=needed biblical faith to have followed that call Imv.

[beergut] 13/9/2020 09:12

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[atlantic57] 12/9/2020 13:11

eleven fair enough.

If we focus on mae comments only then i agree with your overall summary.

My take on mae blogg is that is in essence saying the downward spiral will accelerate
if various support levels dont hold .

However the jury remains out but after the fomc meeting things may be clearer.

We are hovering close to key turning points but need confirmation.

incidentally my take on his gold comments again i feel have not proved very reliable .

[11_percent] 12/9/2020 12:19

a57,

You could be right.....but this is thread for MAs predictions.

In the big picture, I would say he got the start of this crash correct and he got the correction last week correct.

Inbetween predictions were plain wrong.

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Yes, I am a paid subscriber to Craig Hemke's site, TF Metals Report and read the daily blogs and podcasts. The above link is on his Craigs site as he has a weekly "chat" with Eric Sprott.

The FOMC meeting next week will be interesting....will we see Yirld Curve Control.

A big change this week has been the US$ index......and its relation to the gold price AND THE S&P.

In the holiday period, the ALGOS were set between the US$ index and gold. As the $ went up....gold went down. The relationship was tight.

What happened last week was that relationship was extended to the S&P index. As the $ went up, the S&P went down.

Now, the poloticians are happy to keep gold down by any means....but taking US shares lower is a BIG NO, NO.

[atlantic57] 12/9/2020 11:55

hxxps://www.sprottmoney.com/blog/Ahead-of-the-September-FOMC-Craig-Hemke-September-9-2020?utm_source=newsletter&utm_medium=email&utm_campaign=CHemke_sep/11

This is a good detailed article in my view

[atlantic57] 12/9/2020 11:50

My view is that all his recent forecasts are basically looking in every direction at the same time and then telling you he predicted it.

My own view is the fed meeting this week will determine the price action in many markets
Up until the us election.

If the fed only offer words ie we will do whatever it takes markets will head sharply lower.

Substantial money printing or actually policy decisions will support the market.

Then it will be down to election results Biden or Trump to give the next steer

[11_percent] 12/9/2020 11:41

First comment, it would have better to have held this blog untill the markets were closed and we would know for sure if the projected vaues had been met.

All my numbers are based on IG Index charts for the indexes.

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"but a closing below 27,660 will keep the market poised for a further decline."
Close was = 27,639..........so expect a decline (in markets, not just DOW???).

Support at 26,500 level and ready for panic sell-off yet.

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"The NASDAQ will remain in a bearish position with a closing below 10.885 today for the week."

Close was = 11,075.....so the above did not happen.....and the NASDAQ looks safe.....as the panic sell-off vale of 10,395 was not reached.

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"The cash S&P500 also to be in a weak posture with a closing below 3,339"

Close was = 3,337......so just below.........with support at 3,200.....which is not far from current level.

====================

Ok, DOW and S&P went under their weekly targets.

However, DOW is not readt for a sell-off and support for the S&P is 3,200 (current 3,337).


Any views guys???

[11_percent] 12/9/2020 11:27

Friday 11th September – US Share Market for the Close 09/11/20

In the DOW, we have closing resistance at 27,725 but a closing below 27,660 will keep the market poised for a further decline.
The main bank of support lies at the 26,500 level. The DOW is not in a position for a complete panic sell-off just yet.

We still see that the NASDAQ will have a greater percentage decline compared to the DOW.
The NASDAQ will remain in a bearish position with a closing below 10.885 today for the week.

A panic type sell off become(s) more possible with a closing below 10,395.
The cash S&P500 also to be in a weak posture with a closing below 3,339 today for the week. The main support lies at the 3,200 level.

Even the DAX in Europe closed neutral below resistance which stood at 1312000.

[11_percent] 11/9/2020 10:48

Yes......next weeks FOMC meeting will be interesting......lets see if he talks about yield curve control.

MAs short term support (DOW) at 27,525 still holding......27,739 as we speak.

[atlantic57] 10/9/2020 22:27

The correction certainly seems to be here now for those who have traded it well done.

As I said before the fed meeting is looming with a plunging stock market jerome Powell’s reaction will be interesting.

[11_percent] 09/9/2020 08:28

PC,

"Markets can only be fooled for so long."

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Indeed.....but the last blog (above) is saying that the FED set this up for the Wall St bankers to run with.

The FED, Wall ST scammmmers, Gates, Schwab, etc all were in on the virus scam to crash the economy for Reset.

The FED then set it up with the money and the Wall St bankers ran with rise......think Softbank and their "whale" option trade on the markets......it was a one way bet.

The shares that did welll.....are the companies that will do well in the New Reset Green Economy.......ie, Tesla.....EVs.

However....and this is now my opinion......the bankers have pushed it (indexes) as far as they dare, and are getting frightened that others will sell and they will not get their full profit.


He says....

Market should decline into October……;.

Right now, the key closing support in the DOW lies down at. 27525. A closing below that will signal that the broader market correction is beginning.


Ok, the market should decline......but saying DOW support at 27,525.....although he says "Right now".

I am looking at the IG graph/data for the DOW.....and it is 27,609.......after being at 27,200 and 27,378 last night.

Its gone under support at 27,525.......twice......and risen above to stand at 27,609.

Lets see if it goes under 27,525 on a sustained basis.

[11_percent] 09/9/2020 08:08

Tuesday 8th September – The Decline in Tech

Major US indexes fell sharply last week……..target week of 8/31.
Even Sept 3rd was spot on and even more ironic that was the day of the high in 1929.

THE FAULSE IMAGE OF A BOOMING STOCK THAT WAS DECOUPLED FROM THE ECONOMY WAS ALL PREDICATED UPON THIS COVERT MOVE TO REDESIGN THE ECONOMY IN THE VISION OF GATES AND SCHWAB’S GREAT RESET.

Market should decline into October……;.

Right now, the key closing support in the DOW lies down at. 27525. A closing below that will signal that the broader market correction is beginning.

[patientcapital] 08/9/2020 22:53

Markets can only be fooled for so long. It is going to be a long winter.

[atlantic57] 08/9/2020 22:14

Agreed ma was spot on to the day.

Unfortunately he had given numerous predictions before .

I am not selling my long positions because I have not got the ability to sell high and buy low.

However I have held some cash back so we will see what unfolds.

The fed are meeting the week after next I would have thought that they will take some form of action if they do nothing Trump will be approaching election day with a plunging stock market.

[11_percent] 08/9/2020 20:41

If this continues....MA was spoton.....to the day.....

[atlantic57] 08/9/2020 17:50

Markets are certainly crashing now.

[atlantic57] 06/9/2020 09:17

Looking back at 1929 ,yes indeed we have been expecting that pattern to repeat for some time and it makes good sense.This was why I missed out on the huge rally since March as kept expecting the pull back as did Ma.

However we need I think to reconcile two opposite forces which Ma has consistently spoken of.

On the one hand he has consistently spoken of a major pullback .
On the other hand he has also consistently spoken of huge flight of capital from Government to equities.

Perhaps there has to be a sharp fall before the slingshot !
I will pose a question on the blogg

[patientcapital] 06/9/2020 08:55

Overdue I believe. Look back at the Dow in the few years following 1929. Huge swings within the overall negative trend.

[11_percent] 06/9/2020 08:45

On two occasions I sold my Nasdaq investments when the market dropped on both occasions the market came storming back and I ended up paying A lot more for the same positions.


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Snap.....I bought the Nasdq as it went up.......and when it fell, I thought it was the retest as MA was suggesting.

However, there are a lot of people mow saying that this is the retest, or at least a consolidation in the US indexes.

Lets see.