Loading ...Buckle up 2.0
My first chart shows GDX and Gold Backtesting either a Trading Cycle low or, more likely, a half TC Low.
Wild intra-day swings. Blue is the IC uptrend, Green the TC uptrend and the Red, my Half-Cycle down trend.
My second chart is a longer term 2 Year weekly that shows the Cycle aberrations we have seen in GDX as we were transitioning from Bear to Bull. Study this one carefully as in Aug 2015 and Jan 2016 the GDX (Miner) cycle broke critical cycle trend lines “but did not fail.” Rather, these were stop runs…
Buckle up and Hold on. 😉
Added: Gold has an intra-day swing of $20 (Up $11 to down $9) and most of my Core Spock Rocks are still green.
Sneaky market makers, always “shaking the tree”…This insight is what separates the “winners from the losers”…
Lately they have been unable to engineer a selloff despite a record commercial/swap dealer short position.