Today will mark the 14th day of the current daily cycle. We will soon enter the timing band for the next cycle low. The dollar is now deep into the timing band for a cycle low and could bottom sometime this week.
Sentiment is starting to get frothy. Traders are starting to find reasons for why gold and silver will just continue higher indefinitely. (JPM short squeeze)
All signs that an intermediate top is approaching. Trust me we will get a profit taking event. They come like clockwork about every 20-25 weeks.
I went over in the weekend report what to look for to spot a potential top.
Stay on your toes here folks!
Hi Toby,
ReplyDeleteOn November 17th you had stated that the dollar was about to hit a brick wall of it's moving average and then head south. At the time this was just below 80. It never moved lower all that much and the dollar still sits directly below 80. Are you now stating that instead the dollar will break through this resistence level and march higher?
Thanks for all of your great blogs! Missed reading your blogs at the end of November but hope you had a good holiday.
Hi Toby,
ReplyDeleteHere is a challenge.
The Gold and Silver will continue to fall till Dec. 30.
If my analysis and prediction is wrong, and if according to you Gold goes high, I shall accept that you are the best analyst.
If however, Gold / Silver does go down till 30th Dec. You should accept that you are wrong and don't know much about how the economy works.
By the way, I shall be buying precious metal on 30th Dec for a peak in 2011.
basketsupply - i don't want to start one more challange but here is one date I throw here. Dec 4 was expected top ..it was sat so monday open was ideal but i think came one day late today. Now dec 12 for bottom. I don't know if Toby has his own dates yet.
ReplyDeleteGold may be moving down into a daily cycle low. We will need a swing high as the first confirmation. Gold will then bounce out of that cycle low. It may or may not make new highs but it should at least test the recent high to some extent. Then if this was the top today it will continue lower for 4-5 weeks.
ReplyDeleteTrying to pick an exact date for a bottom or top is a fools game and not one i care to play. I'll just stick with the normal timing bands for cycle lows and play the odds.
Gold may be moving down into a daily cycle low. We will need a swing high as the first confirmation. Gold will then bounce out of that cycle low. It may or may not make new highs but it should at least test the recent high to some extent. Then if this was the top today it will continue lower for 4-5 weeks.
ReplyDeleteTrying to pick an exact date for a bottom or top is a fools game and not one i care to play. I'll just stick with the normal timing bands for cycle lows and play the odds.
Hi Toby,
ReplyDeleteI am new in this trade, i have been following your blog for sometime and quite impressed with your predictions. Can you suggest the right time to buy silver for maximum gains.
Thanks !
Cindy,
ReplyDeleteMy suggestion is that you just subscribe to the premium service.
There's no way to call a bottom at this point. If this was an intermediate top yesterday then we probably have 4-5 weeks before the bottom.
I can usually get pretty close in real time but I have no chance of telling you were to buy at this point.
Toby -- so you are looking for daily cycle low then some bounce to get intermediate top (if that not happened yesterday) giving 4-5 weeks decline and then wild up into spring 2011 for C wave top?
ReplyDeleteDid I get it right?
(I know exact bottom/top not possible .. in fact mostly I am going to hold on even in 4-5 weeks decline and add more to finally come out in spring only)
correct
ReplyDelete