August 14, 2016
Re: “SOCRATES” (SOC) Forecasts and Signals - Analysis for August 15, 2016 and the Week
In last week’s August 7 Free FDNN letter I stated that for the week of August 8, we would be focusing and make our trades in E-Mini S&P 500 Futures to the benefit our ROI and we gave you our rationale why we had no interest in trading the E-Mini Gold Futures for that this week.
Well that resolve changed drastically on Tuesday August 9. The SOC signals were very decisive when Gold went through and breached two (2) July 29, 2016 MAJOR Reversals. When these Major Reversals were triggered we bought the NUGT. We did this just before the close which was too late to alert our Paid Subscribers. We bought the NUGT @ an average of $162.57and we sold on Thursday at a nice profit and we sold the rest on Friday at an even better profit.
The importance of the above Paragraph as well as the Paragraph noted below is:
We may have the SOC forecast for the Week but, the Daily SOC signals give us heads-up for a specific Day and we have to head those signals and react when SOC tells us that certain milestones have been reached.
Last Sunday we anticipated Gold to be bearish for the week but, when we got the new SOC signals we relied on the SOC generated Major Reversal numbers and did NOT try to second guess those numbers. When we saw the Reversals; we immediate bought the E-Minis Gold Futures and as a consequence, we ended up on the right side of the trade with excellent profits! In addition, after the 1:00pm Tuesday August 8 Market close, I did very well by ‘Day Trading’ the E-Mini Gold Futures for the rest of that week.
Yesterday, I received the SOC forecasts and signals for tomorrow Monday August 15. As follows are excerpts from the NY Silver COMEX, NY Gold Nearest Futures, Dow Jones Industrials Index Cash and S&P 500 Nearest Futures as generated by SOC with my comments in […]:
- Silver (Silver leads Gold): 1) A review of our momentum and trend indicators reveals that this market is in a negative position, which is down from the previous Daily session. We did close below the previous low on Friday and since we made a new low on Friday trading period, this is rather negative [Close on Friday 19.7030]. 2) For tomorrow SOC warns of a Waterfall event and for the week Caution advised; 3) Support is at 19.6050; 4) Weekly Level: Currently, the weekly level opening number for next week's opening shall be 195257. We need an opening print below that number to maintain the downward pressure. Otherwise, we may see the market finish up by the close of trading. Pay attention if we open higher above this level for a bounce becomes possible. We need an opening print above that number to imply a rally is possible at this time. Otherwise, this opening pivot provides resistance and a failure to exceed it even during this session warns of potential weakness emerging. Penetrating 195150 intraday will be bearish but closing below that area will signal a decline in underway. 5) [The Trends are either Bearish and Neutral and thus, do not bode well];
- Gold: 1) We need to focus on 1320.70. If below that then a Temporary high is in place; 2) 1349.50 is overhead resistance; 3) We need an Open tomorrow below 1339.00 to maintain downward momentum otherwise we may see the Gold Market up by the Close of trading. If we Open higher, then a bounce becomes possible; 4) On a Weekly level [the number is] 1340.73 and we need an Opening Print above that number to maintain any upward momentum.
- Dow (The Dow leads the S&P): 1) We e trading in a Neutral position for now; 2) The Immediate Daily Bearish Reversal to watch is 1850202 but, focus more on 1845261; 3) No Weekly Bearish Reversals. The Weekly Bearish Reversal to watch is 1846877; 4) The Daily number to watch for tomorrow [Tuesday] Open is 1858927 we need that number to maintain an upward momentum otherwise Market down by the Close of trading; 5) [The Arrays show this to be a very volatile week with the Composite row (The Array row that is the sum of the 72 models in the rows below it) showing a large wave for Tuesday August 15 and a Panic Cycle for both August 16 and 17].
- S&P: Here are the Global Market Watch Comments and Trend for the S&P:
GLOBAL MARKET WATCH COMMENTS
- Daily CAUTION ADVISED
- Weekly Caution
- Monthly Moving Higher
- Quarterly BREAKOUT to UPSIDE
- Yearly Moving Higher
Indicator Description... Trend
- Immediate Trend ........... - Neutral -
- Short-Term Momentum ....... - Neutral -
- Short-Term Trend .......... BULLISH
- Intermediate Momentum ..... BULLISH
- Intermediate Trend ........ BULLISH
- Long-Term Trend ........... BULLISH
- Cyclical Strength.......... BULLISH
- Broader Trend ............. BULLISH
- Long-Term Cyclical Trend... BULLISH
Those of you who are Long-term investors will be able to sleep easy but, for Short-term investors this is going to be a tough and volatile week.
Whereas, we are only Day Trading ‘long’, it looks like we may concentrate a little more on the Dow and S&P but, the key this week will be the Daily SOC forecasts and signals. Those signals may have us turn on a dime like we did on Tuesday August 9 when certain SOC milestones were reached.
Friends, the good part of getting old is: You only have to do it - - Once
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It’s all about profitable trading!
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Regards from Mining Interactive Corp. in Vancouver Canada, where we enjoy the lazy warm and pleasant days of summer,
Nick L. Nicolaas
Direct: +1 (604) 657-4058
Nick L. Nicolaas; Mining Interactive Corp. and its Associates (collectively referred to as NLN) are not registered advisers and do not give investment advice. NLN’s trading comments are an expression of opinion only. NLN may have an investment in some of the companies or trading instruments NLN mentions or writes about, nothing should be construed in any manner whatsoever as a recommendations to buy or sell a stock, option, future, bond, commodity or any other financial instrument at any time. While NLN believes all statements to be true, they always depend on the reliability of NLN’s sources. NLN recommends that you consult a qualified investment adviser, one licensed by the appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions and NLN urges you to confirm the facts on your own regarding any trades or companies NLN mentions before making important investment commitments. The “Trading Based on Martin Armstrong Socrates alerts” and the “Stock and Private Placement” alerts written and distributed by NLN do not, and cannot, constitute a recommendation to buy or sell any security.
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