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   Strategies & Market TrendsDino's Bar & Grill


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To: Goose94 who wrote (108016)8/9/2021 10:13:19 AM
From: Goose94
of 127578
 
Dr. Copper: Look Out Below

While, on a smaller scale, today’s break below last week’s 4.3055 low obviously reaffirms the past couple weeks’ slide and leaves Fri’s ?4.4215? high as the latest smaller-degree corrective high and minimum ?level this market needs to recoup to arrest this decline, what’s increasingly important to a much broader peak/reversal threat is the clear 5-wave impulsiveness of this decline. This is especially important given that the extent of this relapse raises the odds dramatically that 27-Jul’s ?4.6275? high completed a 3-wave and thus corrective structure that contributes to a peak/reversal threat that could be major in scope. Per such, we’re identifying ?4.4215? and ?4.6275? as our new short- and long-term risk parameters from which traders are advised to base and manage the risk of non-bullish decisions like long-covers and new bearish punts.?



Indeed, as a direct result of the extent and impulsiveness of the past week’s relapse, Jun-Jul’s recovery attempt from 4.0880 to ?4.6275? is about as textbook a 3-wave and thus corrective event as it gets. On the heels of May-Jun’s (suspected A- or 1st-Wave) down and until negated by a recovery above ?4.6275?, we anticipate a (C- or 3rd-Wave) resumption of May-Jun’s downtrend to levels potentially well below 4.0880 as part of a major correction or reversal lower.

Contributions to this count include:

upside momentum that’s been waning all year

historically frothy sentiment/contrary opinion levels

an arguably complete (textbook even) 5-wave Elliott sequence from Mar’20’s 1.9725 low as labeled in the weekly log chart below, and?

the market’s rejection thus far and inability to sustain gains above 2011’s former all-time high at 4.6495. If there’s a time and place to be leery of bullish exposure from a long-term perspective, the factors cited above warn that it is here and now, with a recovery above ?4.6275? minimally required to ?mitigate this threat.

These issues considered, a bearish policy remains advised for shorter-term traders with a recovery above at least 4.4215 required to threaten this call and warrant its cover. Longer-term commercial players are advised to neutralize previous long-term bullish exposure and move to a cautious bearish policy. This said however, the risk/reward metrics of initiating directional exposure from the middle of the past couple months’ range are poor. We will be watchful for proof of smaller-degree corrective behavior on an intra-range recovery attempt for a preferred risk/reward selling opportunity. In the end however, until and unless negated by a recovery above 4.6275, we believe this market is in the early stages of a major correction or reversal lower to levels well below 21-Jun’s 4.0880 low. Per such, it may be worth noting that even a Fibonacci minimum 38.2% retrace of 2020-21’s 1.9725 – 4.8880 rally doesn’t cut across until the 3.45-area on a log scale basis above.



RJO Market Insights

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To: Goose94 who wrote (111688)8/9/2021 10:14:54 AM
From: Goose94
of 127578
 
Converge Technology Solutions (CTS-T) beauty chart, intraday new 52 week high, $12.22

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To: Goose94 who wrote (110694)8/9/2021 10:15:43 AM
From: Goose94
of 127578
 
Anaergia (ANRG-T) new 52 week high, $20.40

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To: Goose94 who wrote (111687)8/9/2021 10:16:26 AM
From: Goose94
of 127578
 
Magnet Forensics (MAGT-T) intraday new 52 week high $34.70

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To: Goose94 who wrote (111700)8/9/2021 10:17:30 AM
From: Goose94
of 127578
 
Western Magnesium (WMG-V) hat trick new 52 week high, 83 cents

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To: Goose94 who wrote (107820)8/9/2021 10:23:55 AM
From: Goose94
of 127578
 
Canada Silver Cobalt Works (CCW-V) Aug 9, '21 Intersects 30,416 g/t Silver over 0.42 Metre with 425 g/t Gold Equivalent in New Vein at Castle East money.tmx.com

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To: Goose94 who wrote (108733)8/9/2021 10:26:25 AM
From: Goose94
of 127578
 
Norvista Capital (NVV-V) highest volume day of the year set in stone June 3rd 2021

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To: Goose94 who wrote (111709)8/9/2021 10:27:39 AM
From: Goose94
of 127578
 
Norvista Capital (NVV-V) Aug 9, '21 NAV of Cdn$0.129 per Share money.tmx.com

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To: Goose94 who wrote (111680)8/9/2021 10:29:31 AM
From: Goose94
of 127578
 
Fosterville South Exploration (FSX-V) bounced off 2021 lows on assays

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To: Goose94 who wrote (111665)8/9/2021 10:32:42 AM
From: Goose94
of 127578
 
Gold: Don't worry about Tapering. This WILL never reverse usdebtclock.org

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