Sunday, February 24, 2013

MMM Weekend Update 2-24-13

Gold - Still in a very tedious 'jeopardy zone' where the probabilities of further upside is in danger with increasing likelihood of increasing bearishness while price remains below 1652.00. Gold is currently back testing a confluence of multiple support lines, a successful test should created a rally soon back above 1652.00. A failure however, opens a trap door toward the previously mentioned support zone of 1310 to 1430.


Silver - Also in 'Jeopardy' while below 30.75.


EUR/USD - A bearish monthly candle could be printed with a monthly close this Thursday below 1.3198.


GBP/USD - A triangle count with break-down last week, hitting lower green channel support.


S&P500 - Time and pattern came together last week to threaten another top. Last week closed as the first negative week of 2013, and also an Outside Key Reversal on the weekly chart. Continued selling at a minimum could come down to fill the 'New Year' Gap. Falling below 1400, would suggest a significant top could be logged in.


All the best to you!

If you are interested in my daily email updates with trade ideas based on the QG3, Candlesticks and Elliot Wave Theory, sign up for my Market Signal Service here:

Sunday, February 17, 2013

MMM Weekend Update 2-17-13

Gold - In a very precarious, jeopardized position. Bulls will need to take advantage of a fairly low risk entry soon or else bears will swallow them whole. Minimum ST bearish while below 1640.00

Several Time fibo measures in the daily and weekly time frames are all pointing toward March 6th to the 11th on the daily and the week of March 10th on the weekly. Further drops into that turn date window could produce a significant bottom. A New Moon is also near the same turn window on the 10th.



The QG3 Market Signal Service performed very well this week:

If you are interested in taking advantage of the QG3 Market Signal Service, you can sign-up here:


Silver - Also testing major support, Minimum ST bearish while below 30.60:

The QG3 Market Signal Service also provided good signals for silver:


EUR/USD - In a QG3 bearish alignment about to test Key MT support. A break-down below 1.3159 could set up an eventual bearish HnS:


All the Best to you,

Quad G

Sunday, February 10, 2013

MMM Weekend Update 2-10-13

Gold - Showing more weakness near the end of last week, producing a bearish cross-over of the QG3. A short position or hedging of physical metals would be prudent with appropriate stops:

And with the Bollinger Bands clearly 'pinching', a thrust out of this consolidation period could come very soon:

A fight in this price zone has taken place before. The bears won the last battle, will they win again?:


Silver - Same as gold, losing much of it's momentum, with the QG3 very close to producing a bearish cross-over:

Silver also feeling the 'Pinch':


Platinum - The QG3 is still in a bullish alignment, however weakness in Gold and Silver and USD making a bullish cross-over suggests caution would be prudent with appropriate stops or hedges. Though a Handle is complete with the bullish pattern below, beware of a possible back-test of that handle down below, currently at 1571:


EUR/USD - A bearish Inside Key Reversal was printed on the weekly chart. The close for last week was in the lower 10% of it's range, so further downside should be expected this week:


USD - A second right shoulder of a MT bearish SsHsS could emerge over the next few weeks:

The longer term picture still suggests more downside for USD, as long as it remains inside the current Bearish triangle:


For daily email updates on the Gold, Silver, Platinum, GDX, GLD, SLV, Euro and JPY markets using the QG3 subscribe here: QG3 Market Signal Service

The content in this blog post if for informational purposes only and is not a recommendation to buy or sell any financial products or securities.

All the best to you this week,
Quad G

Sunday, February 3, 2013

MMM QG3 Market Signal Service Performance Tracking 2-3-13

This feature will be posted near the end of every month to demonstrate the on going performance of the QG3 Market Signal Service.
Performance tracking spreadsheets can be see in the links below. The word 'current' in the spreadsheet indicates the current closing price for an open tranche since the report was posted.

Gold(spot) - Has started off the year very well, however recent choppiness has stopped us out a few times for small losses. The current balance has a gain of 107.75 at 33.2oz equals a gain of $3,577.30
Gold(spot)- Performance Tracking spreadsheet

Silver(spot) - Also started off the year very well, but like gold recent sideways action has curtailed some trades for small losses. The current balance has a gain of $5.22 at 1000oz equals a gain of $5,220.00
Silver(spot) - Performance Tracking spreadsheet

Platinum(spot) - This on going long position has been doing very well, entrenched for further upside at this point. Current balance has a gain of $295.75 at 50oz. equals a gain of $14,787.50
Platinum(spot) - Performance Tracking spreadsheet

GLD - This ETF which tracks the gold price is new to my line up, therefore not much movement yet.
GLD - Performance Tracking spreadsheet

SLV - This ETF tracks the price of silver. Same as GLD, relatively new.
SLV - Performance Tracking spreadsheet

GDX - This ETF tracks the HUI gold miner index. Very new, only one open trade right now.
GDX - Performance Tracking spreadsheet

EUR/USD - I'm very pleased with the performance of the QG3 rule-set and speculative plays for the Euro market. So far at market close on Friday current balance is up 1265 pips! or about $15,812.50 using full contracts.
EUR/USD - Performance Tracking spreadsheet

YCS - This ETF tracks the YEN as a 3x bear, moving inversely to the YEN (JPY/USD). It's been a fabulous run so far to say the least. Three tranches of 100 shares are tracked, logging in $45.39 at 100 shares equals $4,539.
YCS - Performance Tracking spreadsheet

More markets will be added in time.

If you like what you see here and think that technical trading would work for you, visit my QG3 Market Signal Service page to sign up.
--QG3 Market Signal Service--

Good Hunting,
Quad G

MMM Weekend Update 2-3-13

Gold - A bumpy, sideways, range bound ride has developed over that past couple weeks, ending this week with a bearish cross-over of the QG3. Which is the polar opposite of the silver market which has maintained a bullish alignment. The disparity is irregular, but makes sense to some degree. The markets are rising high on a wave of liquidity lately which the silver market in particular is sensitive to. However, the Gold market operates out of two modes - 1)Safe Niche Against Financial Upheaval and 2)A hedge against inflation. Financial Upheaval occurs when banks and countries go into default (unable to pay obligations)often making them a terrible place to keep deposits. Inflation often occurs under threat of default, a mass printing of fiat to plug a deflationary hole. Gold will move up in either circumstance, but takes time to transition from one mode to the other and can drop in that time of uncertainty, as the new money influx makes the economy appear to be getting better for a short while until the inflation mode becomes widely evident. Also understand that the Gold market itself is mostly moved by paper that is traded along side other assets. This creates a an unfortunate link between the asset values of say stocks to that of gold. For example if stocks tumbled again like they did in 2008, margin calls can wreak havok on profitable gold positions that are forced to sell.

The fundamentals can be discussed all day long, but Technical Analysis is the only pure language for trading successfully.

Gold price is in a precarious position with the QG3 making an official bearish cross-over:

The recent sideways chop could be ending soon unleashing a run, consider the Bollinger Band 'Pinch':

The 'Pinch' doesn't necessarily point to any particular direction, it mainly indicates that an area of consolidation is about to have a break-out into a thrust or trend.


Silver - In much better shape than gold, but has also been plagued with recent chop, as though the market is waiting for something before making a firm decision:

Silver feels the 'Pinch' a little better than the gold price does, currently the BBs are open to the upside:

The long term picture continues to tease as price tediously oscillates inside a LT contracting wedge:


Platinum - Appears to be forming a Bull Flag, a pause in the action before another run higher. But must keep above the support zone:


EUR/USD - Performing very nicely as expected, just a few pips away from an initial MT target of 1.3800. Friday almost closed the day with a bearish inverted hammer, no doubt some are taking profits nearing the 1.3800 level.


USD/JPY and YCS - It's been a spectacular and very much anticipated quick rise up. As USD/JPY is nearing 94ish, some topping action may become apparent this week and next as negative divergence in the RSI is starting to show itself:

If one had shorted just one JPY/USD futures contract back in mid-november at .012400ish, with the price currently at .010772, you'd be sitting on a gain of about 1628 pips, or about $20,350 (in about 12 weeks time) on a contract that is asking for less than $2500 in margin. But be careful of getting too giddy and greedy, the time to take profits could come very soon.

YCS is a 3x bear ETF that gains when the YEN is moving down in value:

Nice gain so far, about 40% rise out of the buy zone so far. And sure enough, the 30year Bond market confirmed a top in Mid-July.


Dow - Does this pattern look familiar to you:

If not, this might jog your memory:

If the same pattern in a larger fractal was to play out, 16,000+ on the Dow looks feasible while the index continues to trade above 12,884.74. The previous resistance zone between 13,400 and 13,800, that is clearly breached, may also serve as support on any ST pull-backs.


My QG3 Market Signal Service and related video is up and running, you can catch it here:

I understand that the video is long, some may not have 52minutes to dedicate. With this in mind, I am also working on a static page that will show much of the same information, though not likely as detailed.

Also, I will be posting monthly results of the QG3 Market Signal Service here, as promised, in just a few hours. I want to thank all those that have decided to subscribe and take a chance with me in this new endeavor.

All the best to you,

Quad G