Loading ...GDX Intermediate Cycle thoughts
Plunger posted that one or more Guru’s are waiting for the next major Low in Oct. They may actually be correct, based on my longer 5-6 Month Intermediate Cycle count but only after a Cycle high sometime between late August and mid to late Sept, depending on how bullish this IC is. 😉
My first 4 year chart shows the Bear to Bull Cycle transition based on the first 5-6 month Intermediate Cycle for the Miners (GDX as my proxy). The second chart is a close up view of the Cycle action since Jan 2016.
Added: If you look closely at my last chart (and even the first one), you can see the Elliot Wave structures within the 5-6 month Intermediate Cycle.
Week ended with a bullish engulfing candle on the weekly…
Train is leaving the station…sit tight…My long term for silver is 600 and gold at 8000 by 2020…forget the COT, patterns etc…
Wow, that is a 13.33 to 1 Au:Ag ratio! I wonder what the Dow:gold ratio will be?
This seems to be a stretch Krystar….These kinds of targets are NOT what most appreciate here
This is what got many Goldophiles in Hot water in the first place
This is also a huge change from your bearish Posts just last week…what of the Silver Wolfe Wave to 16 you were predicting
IMHO we should focus on near term TA and leave the moonshot predictions to the Moonies and Polnys of the world
Just get me to the top of PhaseI
In the short term I still feel, we could get a mild reaction as we have been seeing….no pattern is 100%…sometimes we see all kinds of waves and depends on the bias that one carries.
I agree, that chart was a monthly and that could happen in 5 or 10 years…who knows…
Rambus posted the silver 30 year cup and handle last week or two weeks ago. The PO out of that pattern is in with what Krystar is suggesting here.
Krystar charts please
Here is the silver chart that I am tracking for the projection…1232% from high of $50
http://stockcharts.com/h-sc/ui?s=%24SILVER&p=M&yr=20&mn=8&dy=0&id=p11945922010&a=469054266&listNum=15
Thanks. Nice chart.
I’m with Krystar – look at the 100 year dow/gold chart at Macrotrends (link below) – that ratio MoM doesn’t turn on a dime. In this respect (as an asset class) I don’t think Gold is as volatile as commonly believed – yes maybe week to week and some hellacious corrections but this multi year trend I believe is undeniable. D/G target for me is sub 1.3 – how we get there I don’t know but that’s the ratio I’m looking at as a reasonable target.
http://www.macrotrends.net/1378/dow-to-gold-ratio-100-year-historical-chart
fits the seasonal cycle also
also down by the steps and up by the elevator, which is unusual