Goldtent TA Paradise

Cycle Guy calls the top in Gold

1. Spock says:

   May 17, 2016 - 1:22 am at 1:22 am

   most of the “experts and gurus” seem to be bears now. the bull is climbing a wall of worry.

2. EagleSeagle says:

   May 17, 2016 - 5:54 am at 5:54 am

   He does note the “bearish divergence” on his weekly chart, which I have emphasized with the TRIX on the daily GDX …These can be negated, but should be of concern to the bulls…

   • Mark says:

     May 17, 2016 - 9:42 am at 9:42 am

     Every long term trend has these kinds of divergences which can last for years over the life of the trend. I give them miniscule weight in light of the bigger picture. It’s so dangerous to isolate one indicator and try trading off of it. This cycles guy is clearly a one-dimensional thinker or trading really short timeframes.

3. Graddhy says:

   May 17, 2016 - 6:18 am at 6:18 am

   That guy is actually pretty good I would say, have followed him earlier.

   But just looking at cycles at this stage does not cut it I think.

   • Mark says:

     May 17, 2016 - 9:43 am at 9:43 am

     Exactly! Trends trump cycles unless you’re trading in and out constantly….not my thing at all.

4. Gary says:

   May 17, 2016 - 8:31 am at 8:31 am

   I wonder if we’ll see a retest of $1243 before we get a sustained move higher. The Yen just broke down from a flag and the dollars pattern looks immediately bullish to me. Probably just more sideways grinding and more bear calls to keep the wall of worry in tact. Then a few weeks from now we’ll see higher highs.

5. Plunger says:

   May 17, 2016 - 9:35 am at 9:35 am

   Don’t want to be arrogant or prideful as Mr. Market knows how to deal with that, but seems like we are about to get another “sold out bull” sitting on the outside looking in as the train continues down the track. Lovin it!