MMM Weekend Update 3-31-13

Gold - Another Fibo turn date is coming up this week for April 5th +/-1 trading day, though it could be somewhat less significant than the turn date I called for that materialized on March 8th. Employment numbers are also due out the morning on April 5th. A low into that date would suggest a bottom, a high into that date would suggest a top.









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Silver - Still battling it out between bull and bears, no decisive winner yet, though the QG3 did turn bearish on Friday.



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Crude (WTI) - Price is between converging trend-lines, further upside this week above 98ish would suggest crude is likely to continue up to test 104ish.



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AUD/USD - The multi-month triangle pattern that I have been looking for an end to, now has a very high probability of being complete with an impulse wave finishing up from 1.0115. If true, the proceeding break-out above the triangle could possibly target 1.2000 as even more liquidity pours into the broader economy. Paper then chases physical assets driving prices up. Gold, Dow and Crude correlate to the Aussie fairly well. If the Aussie is on the verge of a thrust up then PMs, Stocks, and Energy may all be rising on a flood of liquidity.
Australia is a very commodity rich nation as a chief exporter. They have also discovered deposits of frackable crude in south central Australia that is potentially as vast as the reserves in Saudi Arabia. A land rush in oil investment may soon sweep Australia, while crude prices remain relatively high.









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Corn - Made a very bearish move, limiting down on Friday because of a USDA report showing increased growing acreage and increased stocks of Corn, Wheat and Soybeans. An indication that demand is lagging an increase in production.



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If you would appreciate to receiving my daily email updates regarding movements and possible trades in multiple markets, you can sign up for my QG3 market signal service for only $20.00 a month, that's a little less than a $1 per market active day.
http://majormarketmovements.blogspot.com/p/mmm-market-signal.html

Good Hunting this week,
QG

MMM Weekend Update 3-24-13

Gold - Just under key resistance zone between 1619 and 1626. Critical MT support is at 1561.43



Antimagnetic, a well respected contributor over at my thread on the Kitco Forums provides some important CoT data that supports the suspicion that a bottom has likely formed. Small speculator positioning is back to mutli-month lows.



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Silver - Silver is in a Pinch, a Bollinger Band pinch. I don't think this condition will last very long, a pop out of this consolidation could start at anytime. Both sides of the bands were tested last week. The next QG3 cross-over is likely to spear head an impulsive run.



Price is still confined inside contracting range bound action, but a break-out could come very soon.


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Platinum - Price did in fact drop to back-test it's previous break-out providing a buy op. A rally back up to above 1734 should trigger a 'rule of 4' breach to the upside with a measured target of 2100ish. Price must keep above the orange break-out line or risk failure.



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GBP/USD - Candle patterns in the Weekly and monthly time frames are pointing up, targeting a zone between 1.5420 and 1.5825.





Another talented contributor over at the Kitco forums produces some very well crafted Elliot Wave counts. HoldemPlayer is a stickler for EW rules, which I greatly appreciate. His most recent EW count in GBP/USD also suggests a significant bottom is in place and projects a target up to 1.5800+ over the next several weeks.



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AUD/USD - Has moved up very nicely out of the ending diagonal pattern and hammer candle that was mentioned previously. My subscribers were able to take advantage of a buy zone between 1.0155 and 1.0215 before the price took off north to 1.0400+



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S&P500(SPX) - Some topping action could be triggered soon if this week closes below 1538.57. Otherwise, further consolidation above that level in the form of a triangle could produce yet another higher-high above 1563.62.





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If you would like to receive daily email updates from me regarding movements and possible trades in multiple markets, you can sign up for my QG3 market signal service for only $20.00 a month, that's a little less than a $1 per market active day.
QG3 Market Signal Service

Good Hunting this week,
Quad G

MMM QG3 Market Signal Service Performance Tracking 3-17-13

Here is an update on the on-going trading using the QG3 and Speculative (Spec.) Signals. I have delineated the spreadsheet accounting between QG3 trades and Speculative trades. Some subscribers choose just to use the QG3 signals and not the Speculative.
I am also no longer tracking GLD or SLV as separate trades from the current spot market trades to avoid confusion, since GLD and SLV (due to being ETFs) lag the spot market signals up to 24hrs. The spot market signals are still advantageous for trading ETFs using the QG3, but are not going to be as agile as futures or a spot market spread account. I would recommend to GLD and SLV players to look into trading futures. Micro-futures trade gold with only 10oz of leverage and trade round-the-clock Sunday till Friday, a good vehicle to cut your teeth on if you are new to futures (always use the nearest term contract with the most open interest, and always roll-over inside the last week before expiry). Contract specs: http://www.cmegroup.com/trading/metals/precious/e-micro-gold_contract_specifications.html

Performance tracking spreadsheets can be seen in the links below. The word 'current' in the spreadsheet indicates the current closing price for an open tranche since the report was posted.

I want to thank my subscribers for their feedback over the past several weeks. Much of which has helped me refine my email updates in both form and function.

Gold(spot) - We just closed out 2 shorts from 1667.00 back in early February, bringing the QG3 total to 240.68pts in profit so far. The Spec side has been more dicey, currently up only $24.76. If an account used low leverage 33.2oz futures contracts per tranche, you'd have an approx profit locked in of approx $8812.60 (240.68 + 24.76 x 33.2 = $8812.60, minus broker fees and a miniscule amount of decay). We are now flat in the QG3 and waiting for the next signal to be generated. The speculative side has 1 trade currently open long with 1 tranche from 1564.30.
QG3 - Performance Tracking
Spec - Performance Tracking

Silver(spot) - Silver moving along nicely too, but unlike Gold, Silver still has a short position. QG3 and Speculative trades have produced a current combined account balance of $10.09. If one had used 1000oz in leverage, your account would be up about $10,090. NYSE Liffe mini-silver(and mini-gold) market has some workable open interest, worth considering if you want to dip your toes into the small leverage futures market.
QG3 - Performance Tracking
Spec - Performance Tracking

Platinum(spot) - Platinum gave us some nice gains both up and down, for a combined QG3 and Speculative account balance of $359.95, using 50oz contacts approx. = $17,997.50. Not too shabby.
QG3 - Performance Tracking
Spec - Performance Tracking

GDX - This market is relatively new to my scope. I've done some back-testing of my QG3 method with rule-set and see some promising results. The price has been range bound the last few sessions, so no substantial movement in our positioning yet. I understand that the 3x ETFs such as DUST and NUGT are very popular and I provide information to my subscribers who may desire the extra leverage. Currently the QG3 and Spec signals are at odds with each other. Though holding opposite positions may seem counter-productive, understand that the QG3 uses a different methodology and is geared toward MT swing moves, while the Speculative trades use Candlesticks and Elliot Wave signals geared toward the ST. It's possible to gain on a ST move inside a maintained MT counter position. We'll see how this plays out.
QG3 - Performance Tracking
Spec - Performance

S&P500(futures) - We tried mounting a short position a few weeks ago, but it bucked us off for a loss. I opted not to chase the market higher and relegated the SPX to my periphery for now. Combined account balance is: 58.90. Using E-mini contracts, we would be in the hole $2,945 (58.90 x 50).
QG3 - Performance Tracking
Spec - Performance Tracking

EUR/USD - EUR/USD generating some nice gains for the QG3 using my proprietary rule-set. The Speculative side has been a bit more difficult to get into a good position and hold it. Combined account balance equals 1125 pips. Using full contracts at $12.50 a pip = approx gain of $14,062.50
QG3 - Performance Tracking
Spec - Performance tracking

AUD/USD - I've just added new long positions in this market which have given us some instant gratification. So far the combined account balance is up 421 pips, using full contracts at $10 a pip, the account is in the green $4,210.
QG3 - Performance Tracking
Spec - Performance Tracking

YCS(3x YEN bear ETF) - We've locked in profit since last November when USD/JPY was in the 79-80 range. Total combined account balance is $41.92. Leveraged at 200 shares per tranche provided a profit of $8,284. I provide my subscribers with details in USD/JPY terms as well. I think a larger intermediate correction could be coming soon, but will be yet another buying opportunity for YCS and USD/JPY.
QG3 - Performance Tracking
Spec - Performance Tracking

Corn - This is also a relatively new position that started out on the periphery with a couple speculative bids. So far the infant position is up 53.26pts at $50 = $2663.00. Even though the QG3 has turned bullish I have not added more leverage in this market for now since the speculative tranches have performed as expected.
Spec - Performance Tracking

As you can see, my calls are not perfect, being stopped out is par for the course. But using money management and an appropriate trailing stop regimen to mitigate risk, one is able to minimize losses and let the winners run.

If you appreciate this level of performance using the QG3 or Speculative methods you can sign up for daily email updates that provide entry, exit and stop-loss information for multiple markets. Link: http://majormarketmovements.blogspot.com/p/mmm-market-signal.html

Good Hunting,
Quad G

MMM Weekend Update 3-10-13

Gold - Has hit my fibo turn date window (March 6th to March 11th) and showed signs of possible bottoming action last week.



Confirmation still needs to be observed with a break-out this week:



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Silver - Back tested it's previous break-out last week. Looks ready to rock and roll, but needs to stay above 27.93.



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USD-JPY - Looks very close to completing it's 3rd wave impulse, which would then begin a multi-month irregular correction before a final 5th wave push up to my long standing target of 101 - 106:





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AUD-USD - The Aussie is exhibiting some bottoming action in my preferred support zone of 1.000 to 1.0200 for a final wave E of a mutl-month bullish triangle (previously posted). Eventual upside targets could reach 1.2000+, about 1800 pips from now.



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Cocoa - I've been looking for a solid bottom in this market for a few weeks, I think we may be seeing it now:



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Sugar - Also showing signs of putting in a significant bottom:





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If you have an interest in receiving my daily email updates with commentary and trade set-up information, you can sign-up here:
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Much of my subscription funds are being rolled over back into updating this blog with a new website. For now www.MajorMarketMovements.com will direct you here to my blogspot account until the launch of my new website.

Good Hunting,
Quad G

MMM Weekend Update 3-3-13

Gold - There is much in the way of technicals that are suggesting that Gold could be bottoming this week. Other than the Fibo turn date window (March 6th to March 11th)that I have outlined on previous blog posts, Elliot Waves and candle sticks are all suggesting a turn is quickly developing for both Gold and Silver.



The GSR has posted another inverted hammer candle (bullish for PMs) while GSR is diverging from the price of Gold with a lower-high. Also, a Triangle/Thrust topping pattern was printed last Friday.



Gold has also performed a prefect back-test of the previous break-out of a trend-line formed by the daily closing highs of the past several months.



Also of interest, there is a peculiar fractal repeat that mimics much of the previous sell-off in mid- 2012:



There is plenty of technical excuse for Gold to bottom and start moving higher, a failure to do so would likely draw the price down as longs are fleeced.

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Silver - A complete EW pattern is finished to the downside, confirmed with a move above 29.47. Since the pattern is made of 3 sets of impulses, a nesting set of corrections could be pointing to an impulsive 3rd of a 3rd move to the downside, but price will need to stay below the upper trend-line. A break above it would promote the Ending Diagonal count.



Compared to the EWO (Elliot Wave Oscillator)a 5th wave +ve divergence can be seen.



In August 19-20 of 2012 I called for a break-out with a move above 28.50, and the market delivered. However, the price took off and never gave a back-test of that significant break-out. It is not an absolute requirement that break-outs or break-downs provide a back-test, however price movement is generally more healthy when it does.
For Silver, that back-test is finally here:




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USD - The second right shoulder that I have shown previously is about cooked:



If this is the completion of the right shoulder, then price should respond with a fairly quick drop back down to the neckline.

A ST EW count suggests the move is terminal with a final 5th wave up.



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AUD/USD - The triangle pattern that I have been chasing could be completed soon as wave {E} could be finished with a move above 1.0375



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USD/JPY - Subscribers were warned of a possible top due to a triangle/top pattern that popped and reversed very suddenly. Now price is back-testing the break-down, possibly as a wave B bounce, followed by wave C down. But price will need to keep below 94.72



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Corn and Wheat - Both have posted reversal candles on the weekly chart, suggesting buyers are taking interest again at these levels.





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This week is set up for some exciting moves, keep frosty.
Quad G

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