Chuck at the Chartology Forum
He has become the go to guy
He has won the last 3 months trading contests
He is inspired
This young buck has learned Chartology to a degree I never thought possible in 2 short years
here is his latest
Sir Rambus identified March 2015 as a cycle bottom for gold at $890. It all adds up to March 2015 even for silver and even for the gdxj:gld ratio…. March 2015. Mark it on your calendar…
I composed this GDXJ:GLD ratio chart months ago… March 2015 coincides with the bottom rail of the giant expanding wedge exactly where the target of this halfway pattern would take it!
Thinking Way Ahead A B C Style
Some great charts, Fully.
$890 in March! Getting very precise here in price and time. I have both marked. If we hit $890 in March I’ll be back in but I don’t know how big.
Bond yields and commodity prices are flashing recession/depression around the planet. I don’t know what could drive gold into a new bull market unless it were a currency crisis.
That could happen because I expect the Dollar to be stronger than an onion sandwich through most of 2015 and very possibly into 2016…. causing lots of problems around the globe, especially in emerging markets. Look at the destruction caused by the Swiss scrapping the CHF/Euro peg. That x 10 is what the Dollar well north of 100 would do around the planet.
When the Dollar has topped is when I want to buy gold. March 2015 might be a bit early for the Dollar topping.
We’ll see.
Just my opinion, but I wouldn’t put to much emphasis on the dollar index anymore. The currency markets, like the bond markets, are becoming meaningless. The dollar index simply compares fiat paper to other fiat paper. If the world’s fiat paper system truly starts to come apart, and I believe it will during the next gold bull, the dollar could be at 100 or higher even when gold is at $6000 an ounce.
Hey Numbers
A Blast from the past
Good to see you
Remember Chuck from the roundtable ?
I used to ridicule his minute charts…now he has a Masters in Chartology
and is schooling me
No kidding his record is stellar
I should put you in touch..he is going to need a good accountant to shelter his massive capitol gains
🙂
Please post your Macro / Fundamental views here when you can
Thanks Numbers
Fully
This guy has the same target as Chuck. 893 on the spot.
http://dragonflycap.tumblr.com/post/109480529356/the-longer-outlook-in-gold
Thanks RJ
Fibonacci is live and well
If Chuck is correct, the next two months are going to be so ugly. My wife is going to be so upset when she sees how my gold fund is doing lol.
Neils
When we get the currency “reset” none of this will matter
There will be stability as far as the eye can see
Gold would need to have a mini bull market before it has this type of drop.
With Gold getting up to $1300 with the US$ surging and trading near a 2-year high against foreign currencies, its strength is quite clear. Its a major change from 2013-2014. Bears best hope is a weekly break below $1250.