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Miner's Lady (aka Daily Digger) Wed Aug 18


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The CoinGuy's read:

 

Looking at the $XAU as well as the miners. I'm seeing some short term topping action in the leaders, I'm not sure were quite there yet, could have another day in it or so...Notice the laggers are starting to move? At any rate, a backtest of the 50dma is what I'm expecting here. Then we finish the d to e leg to break the 3 line consolidation. Take a gander at the last two d to e's...which is just bizarre labeling for ABC's...smile.

 

The #3 is the most important # in my arsenal of TA I've developed over the years. I believe John Murphy commented on this once, wish I could find the article.

 

Off to have a Rib-eye,

 

TCG

Coin Guy:

 

Here's my Elliott on the XAU. I'm not sure we'll make it to 92.00.

 

It's toppy for me too. However, our point of departure is what happens next. You see a correction, with a rally to 98? I see a nasty 5th wave down to 70 or so.

 

Hope that rib-eye was good.

 

We had the family over on the weekend. Served filet mignon on the barbie. Ate the leftovers tonight. My wife aked if we've "arrived", now that leftovers are filets.

 

If I'm wrong on the Miners, we'll be eating beans.

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