“TODAY (10/3): At 2:18 PM EDT, we will be testing the Wireless Emergency Alert system nationwide. Expect a message box on your phone along with a loud tone and vibration.”
[source: FEMA]
Knocking on the door for the third time, I have to say I am surprised if it moves on up this late in the day. Sort of gooten used to the end of day sell off.
The problem with the daily afternoon self off is that it is a plunge and really doesn't give much of an opportunity to get in once it starts. Waiting to see an expert explain what the cause is.
Trades with cats wrote:The problem with the daily afternoon self off is that it is a plunge and really doesn't give much of an opportunity to get in once it starts. Waiting to see an expert explain what the cause is.
I am for sure not an expert - just noticed from 12:30 ET ADD steady drift lower whereas price touched that 2941 ceiling (R2 if you use pivots) 3 or 4 times
Shaishen wrote:
I am for sure not an expert - just noticed from 12:30 ET ADD steady drift lower whereas price touched that 2941 ceiling (R2 if you use pivots) 3 or 4 times
.
Well yes several days were that 2:30ish Eastern is a big fast slide. I was wondering if somehow squaring accounts is involved.
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GDX and GLD both failed to follow thru on yest's breakout attempt. They reversed at yest's high and gave back a good chunk of those gains. A lower high here could presage another serious leg down.. but momo indicators are saying this could also be a long basing process which will support a major gold and pm rally--even if it's just a bear market snapback.
We should also be watching for any growing correlation (R-squared) btw yields and gold--whether positive or negative.