EW Software Update
The Elliott Wave software says it has found a bottom:
I myself am a bit skeptical though. I think this is certainly a tradeable bottom, but I don’t think it is ‘The Bottom’. I think the dollar has farther to run to the upside and gold/gold stocks have farther to correct. Here is the software’s longer term take on where we are:
For those of you new to this software, the lighter box is the ‘possible’ range and the darker box is the ‘probable’ range. Also – I know the HUI index won’t fall to zero – this is just a quirk of the software. The target is usually the closest point of the darker box.