Loading ...Carolynsue – Even Bigger Picture
This is the chart I referenced in my prior post that I created as you got me thinking about the likely strength of the bounce. I don’t think we will have as hard of a bounce this time but I will be positioned if we do 😉 Pardon my ewave counts….I’m just winging that part as I really am no expert (or even a novice) in ewave. I chose USERX as a miner proxy only because Jeff Kern seems to think it’s the best for looking at multi-decade trends since it’s been around so long.
Mark: In the past decline, price led USERX into the bottom, where they converged, before the bull market took off.
The current decline looks much different, with USERX leading down, and price diverging from above USERX. Perhaps price needs to converge with USERX into the final low? 600 to 700?
I noticed that too Spock. It will be interesting g to see how this mystery unravels.
Thanks Mark, Your contention that the rate of decline effects the rate of advancement makes sense and the visuals of USERX illustrate it perfectly
It is certainly just a contention at this point. We will look in the rear view mirror later.