Webinar

There were some near-bullseyes in the day’s touts, and so we looked closely at the patterns that had produced them: in the E-Mini S&P, Gold and Silver. A prediction earlier in the week of more tedium was holding, and although bullion futures were having their tradable ups and downs, there was little net movement to suggest a trend. We also found reason for extreme caution if Comex Gold should spike to a marginal new record high, since, for reasons of a long-term Hidden Pivot target, it has the potential to be the Mother of All Bull Traps.

Stocks were in a broad retreat as this session began, with the Dow down more than 200 points. This made for an especially interesting lesson that was entertaining as well. The selloff follows a week in which shares had trended strongly higher, but with a peak the day before that had failed by a small margin to generate a fresh, bullish impulse leg on the daily chart. Silver and Gold were moving in opposite directions, but there was Hidden Pivot evidence the latter would prove strong enough to drag the former higher over the next few days.

After falling more than 55 points, the E-Mini S&Ps were bouncing off a correction low we'd predicted within a single point. But where to get long? In fact, there were numerous camouflage opportunities, and we found them by zooming in on the lesser chats. We did the same in Gold, which was oscillating near a crucial midpoint resistance whose breach would imply the onset of a 60-point breakout. We also took a close look at Silver, which, unlike Gold, was forging boldly higher without pausing for breath.

Hidden Pivot novices will find this session relatively easy going, since we used some basic techniques and terminology to determine the prospects of Comex Gold and Silver over the near- to intermediate-term. We found tradable possibilities in each before moving on to the lesser charts of the E-Mini S&Ps. 'Camouflage' trading ideas and tactics got a good workout, since some markets that we follow closely were in actionable trends that day.

If you’ve grappled with the concept of the one-off ‘A’, this recording is essential. Although the session was shortened somewhat due to computer problems, it contains some of the most illuminating material I’ve presented on the topic. Specifically, we used a telling one-off ‘A’ in gold to identify a very precise spot for the nasty correction currently under way to reverse. There are strong reasons to believe that June Gold, currently trading for around 1497.10, will come down to at least 1370.10 before it can turn around. Find out why by reviewing this lesson.

Gold and Silver were getting savaged, so we searched diligently for clues concerning how long the correction might last and how severe it might be. We also took a close look at the Dollar Index, since the continuation of the dollar’s bear market would be a positive for bullion. Finally, we took a real trade in the E-Mini S&P, using the ‘d’ target of a corrective pattern. The trade worked, allowing us to take a partial profit and to secure the remainder of the position against risk.

We stalked Silver for much of the hour, bringing into razor focus some of the subtlest instances of camouflage yet elucidated in the 90-odds hours of the weekly tutorial series. If you want to see how one might calmly and safely trade a vehicle that has gone crazy and which strikes fear into the hearts, even, of experienced traders, this session is not to be missed.

Because even some precious-metal bulls seem concerned that silver has come too far too fast, we took a close look at Comex futures, Silver Wheaton shares, and the ETF.. What we found was that the strong uptrends in each are showing little strain. Moreover, because their respective rally targets in charts of larger degree are well above current levels, there appeared to be little danger to the long-term bull's health. Rather than worry about the occasional, nasty downdraft, we should simply monitor the lesser trends for signs of the minor correction that could turn ugly.

We took a careful look at the Dollar Index (DXY), since its inevitable collapse will profoundly affect our lives. When might this occur? The current forecast actually projects a rally, potentially a major one, from just beneath current lows. For this reason, we pored diligently over the intraday charts in an effort to prepare ourselves not only for what we might expect, but for what we do not expect. Our analysis of impulse legs, particularly those signaled by thrusts above look-to-the-left peaks, contains some of the most subtly nuanced explanatory material in the recorded tutorial library.