Loading ...Trader Joe .. spx, crude, gold
21 min vid. Gold starts around 13m.
I disagree with his LT count, as I have his III IV and V at one degree lower (ie, 3, 4, 5). At the same degree as the 1952 to 1970 move, which becomes the wave 2.
So the 2011 high becomes 5 of III.
Joe is correct that “we have a problem” in gold, in that the ongoing B wave can take various forms, and that none of the options can be ruled out yet.
At least not in EW terms.
https://www.youtube.com/watch?v=TYYOwtgnCZQ
postscript … in response to several comments on the vid … one of which was mine … Joe now agrees that we are likely in a SuperCycle IV th wave, and that 2011 was V of III.
See comments sections directly at his site. This means he has signed on to my LT wave count for gold, in effect.
Very interesting video pedro! So you see the 2011 top as the top of wave 5? We are currently in a wave 4 then yes? I’m not in tune with Elliot wave counts so forgive me for that…my real question is How much lower COULD this go in your opinion if we are in a 4th wave
Also would like to hear your rationale to why it would be a 4th wave and not what trader joe said
Joe says 2011 was top of V. (larger degree wave 5) He doesn’t really spell out what is next at high degree, other than some kind of corrective structure, where A of that ended in 2015.
“So you see the 2011 top as the top of wave 5?” No. As I said:
“So the 2011 high becomes 5 of III.” (top of large degree 3)
So we BOTH have us now in corrective waves. But of different degree.
The answer to your other questions are in my longer post, #3 under Keepers over on the lower right.
Excellent. Well I have just given that post a read again I remember reading it when I first discovered the Tent. Eye opening indeed and if it turns out to be correct we are in store for a huge move in 2020 and beyond. What could set that off? Dollar perhaps topping at 120+? Return of inflation? The death of the system like so many like to preach? Thank you for the update Pedro appreciate it. Will be keeping an eye on your future posts.