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 3-3-13

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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MMM Weekend Update 1-13-13

Gold - Has built a rare, but powerful 'Diamond' pattern. If the extremes of the pattern are exceeded the result is usually an impulsive move.



The QG3 is in a neutral alignment, flat, not bullish or bearish:



There are some fibo turn date windows just ahead.
- daily windows: From the open on Jan 14 to the close on Jan 18th. And the Feb 3rd open to the Feb. 6th close.
-Weekly window: Starting Sunday Jan. 13th till close on the 18th. So much greater potential for a turn next week than the single daily turn I posted back around December 18th which only spear headed a multi-day bounce. The weekly trend is certainly down into the window, so it's most likely a bottom.

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Silver - Price remains below a key mid channel line that is posing resistance at the moment:



The QG3 is also neutral for silver:



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EUR/USD - Moved as anticipated, after a successful back-test, the bounce back up to take out 1.3300 was swift, further upside to the target of 1.3580ish is expected. Key MT support is now at 1.3000.

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USD/JPY - This impuslive run has exceeded expectations! WOW! It's possible to reconfigure the impulsive count, as several waves could be 'nested' providing for further upside:



zoomed out:



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Coffee - I've been hunting for a major low in coffee for the past few months. Here is the primary reason why:

(click image for full view)


The ST gives a promising potential for a bottom, perhaps a major one:



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Corn - I posted this chart on December 23rd, which had a support zone of 663 to 675 with an EW target of 682.



We saw a bullish bounce this week off that support zone:

Weekly chart


Daily chart


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Wheat - Also showing signs of a potential reversal and bottom:



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Soybeans - Posted a bullish dragon-fly doji on the daily chart, perhaps in sympathy with Corn's move last week. A reversal in the downtrend could be realized with a weekly close this week above 1415.62

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My video about the QG3 (3/10/20 ribbon) is essentially complete, but requires some editing. It's very possible to be complete this week. The process of producing video is all very new to me, please pardon the delay as I hike up the learning curve.

Good Hunting :)

and GO SEAHAWKS!

QG

MMM Weekend Update 12-30-12

Gold - Last week gave somewhat of a pause in action, likely due to the Holidays and end of year. With a New year starting this week, I would expect investors to move into their long term picks for 2013. If Gold is in the mix, then buying should be able move price above key ST resistance at 1683.54



The 20 month moving average has been a major support on a closing basis since 2001.
LT gold bulls would still want to see the month close above this key MA. If December closes below 1661 and January also closes below the 20 month MA, it would be an unprecedented signal that a larger correction than 2008 is in the works.



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Silver - With more sideways chop this week, one more lower-low looks possible before a rebound.



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USD/JPY - My Long term term call for a major bottom in USD/JPY is confirmed with last week's close. I suspect that further impulsiveness in 2013 with drive USD/JPY to challenge 102 at a minimum.



zoomed in MT EW:



zoomed in ST EW:



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The initial interest in a signal service was good, but still short of my goal.
The Service that I intend to provide would use the 3/10/20 ribbon as the back-bone of the system with varying rule-sets for initiating entry and exit signals depending on the market. This system targets swing trades, significant runs that last more than 2 weeks. I am simplifying the method to allow for easy entry and exit points and adjustment of stop loss levels within a few hours of daily market close (between 3:30 - 4PST for most markets). This way, at the end of the day a subscriber can take action, adjust stops and leave it alone for at least the following 24hrs. Every entry would have a stop-loss not exceeding 3%, most stop levels would be between 1-2%. A trader cannot control the price, but he can manage risk. This system would keep losses small, cutting losing positions short, while letting winning positions run. At first I would provide signals for Gold, Silver and EUR/USD. After some further refinement I would likely add other Forex and commodities.

I can send the signals by email and eventually by twitter. I want to package this service with an important video describing the 3/10/20 ribbon and the trading method. This will still take some time. I might have it all together before the end of January.

If you have any questions or comments feel free to leave a comment below or send an Email to quadg343@gmail.com

Good Hunting,
QG

MMM Weekend Update 11-18-12

Gold - Last week posted an inside week for gold, appearing as a choppy corrective move to the downside.



PoG was likely working on the back test of the previous break-out:


This has occurred in the past with bullish results:


The 3/10/20 ribbon is currently in a 'neutral' position with the 3EMA moving back below the 10EMA:



The Short Term (ST) Elliot Wave (EW) picture still shows Bullish potential as price moves down in a choppy manner after a 5 wave impulse reversal:


Critical support is still 1672 to 1682. Moves below this level invites a test of a support zone between 1650 to 1666.

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Silver - Has moved into a full bullish alignment of the 3/10/20 ribbon:


30.66 to 31.06 is critical support. I suspect that once 33.00 is breached, a pop up to 35+ is likely in the ST. All part of a MT move up to 45ish.

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USD - Felt the effects of resistance near 81.20ish:


Zooming out, we see the USD tangling with previous support that has now formed resistance:


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USD/JPY - The chart picture last week had some conflicting, bullish/bearish indicators. However the bull side come out on top:



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Dow - 3rd wave down reached 'point of recognition':


The lower green trend-line is very probable target to finish the right neckline, below at 12,124ish:


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Palladium - Has bullish potential above 600, could challenge 700+ fairly soon. In the ST, Pall becomes bearish below 600.

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Wheat - Broke down through the triangle formation which is bullish and bearish. Bullish because the next wave higher is less likely to be 'terminal'. Bearish because price will have to seek out a lower level of support, $8.00 sticks out as very probable.

Corn - may have one more small leg lower to 670 to 700 finish this multi-month correction. Any move in the ST back above 755 confirms the end of this current correction.

Soybeans - Is done or nearly done with it's multi-month correction. A quick move higher back above 1430 should lock in a MT bottom with upside target of 1800+. Any further selling on strong volumes below 1310ish kills great sums of bullish potential.

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That's all for now.

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