Jnug to Gold "BBands tightening again, Big move coming soon"

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Yes a big move is coming soon and I think that that big move is down. Last Fridays poor price action for Jnug is the writing on the wall. With such a strong break up for gold , Jnug should have behaved better than that if there was strength. So while I think gold will continue up towards the top of its wedge , I think Jnug may not perform that well. I wont guess on a price top for early next week but I will be monitoring it closely. Then I will sell my Jnug and buy JDST . I am hoping that Jnug can retest the red zone again and hit the $20 area but I am losing faith in the ability for it to fill that upper gap. The JDST gains should be very large over the next two weeks starting after Tuesday is my guess. I am fully expecting Jnug to drop all the way down to $9.40 - $8.15 range. I am looking for GDXJ to drop to first test the December lows of $27.47 range. If that breaks then I would look to $26.35 range. If for some reason we actually get that low, then there would be nothing that I can see stopping a drop until $21. To put things into perspective. Since Jnug tracks GDXJ . If GDXJ drops to the $27.47 range, that would be a 14.8% drop. On February 24th and 27th, GDXJ dropped 13.6% in two days which translated into Jnug dropping 36.66% in two days. That would bring Jnug down to $10.95. And I think we will go lower than that and get to the $9.35 to $8.14 range. If we get to $8.14, that would affectively be a retest of the 2015 lows for Jnug (reverse split included).
After we get down there then I fully expect the Fed to raise rates and we get another rally. But it seems that the rallies are smaller and smaller. This once might be very short lived, maybe a month or two at the most?! That's a little two far in the future but I have been predicting that gold has not started its bull market and that gold will drop hard into early next year.
I will post my GDXJ chart and Gold chart next. GL
评论: GDXJ Chart with price drop measurement
评论: gold chart
Boy are we wound tight. I think tomorrow Jnug will make a move. However, I am taking a chance to hold Jnug one more day. I don't suggest anyone try this at home ;) What I mean is that this could easily break down tomorrow and continue down for the next couple of weeks. It is a good bet to buy JDST after watching the price action tomorrow. Since I think that gold is going to go up for one more day until the ADP report on Thursday, I am hoping to get a little bit of a bump in Jnug just for tomorrow. I am hoping that the big money creates a false move positive for Jnug like they sometimes do only to reverse course maybe in the same day. So Tomorrow is a big day for me. I just don't think Jnug will maintain that wedge for another day. It could but is doubtful.
评论: 4 hours gold chart

It might be too early to say this but, there might be a small bullish divergence on the RSI 5. There was one last week and that led to the break out move above that red resistance zone. I could be wrong of course but this is the small count I am watching for gold. This is also the reason I am taking a chance with Jnug for tomorrow. GL
Sain, don't you agree tht gold breached the 5 year downtrend line? If so what implications are you seeing it have on your model? It's interesting that miners are still as soft as they are.
Sold JNUG after open a.m.
FYI I called direxon, and they said they know JNUG is not performing well and I should get in JDST /Nugt for a few weeks.
SalN dsankie21
@dsankie21, good stuff. Keep it coming
bingwu dsankie21
@dsankie21, not quite get it. Time to get in JDST now or get into NUGT after a few weeks? thanks
SalN bingwu
@bingwu, I'm in jdst now. I can't tell you what to do.
@SalN, Yes, I know. Everybody should be responsible for their own trade. I just not understand what dsankie21's message mean? Kind of confuse about "Get in JDST/NUGT FOR a few weeks".
@bingwu, JNUG is having issues. Use either the stock symbols NUGT if you desire a long or JDST. JDST is the inverse of JNUG. I'm guessing JDST is a safer bet for the next few weeks.
No clear direction. But gdxj looks like wave 2 was low at 29,33. Then (i) at 34,1, Then a-b-c down. C = (ii)= 31,09 ( 61,8%). Then (iii) will be 38,77(61,8), (iv)= 36, (v)= 42. I am back in JNUG from day low and wait.
JNUG is done as of today I think.
XAUUSD up, JNUG down ... can't get much weaker than that! haha
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