Loading ...GLD Long Wave Count
Here is a possible Long term Elliott wave count on GLD. If it proves to be true it is would be very bullish.
The long range count is the purple capital roman numerals.
In this count The 2011 high is marked V (purple count) a significant multi decade generational high.
The whole decline from that point to Jan 2015 is a ABC correction (purple count)
The rally into June 2016 is only marked as WAVE ONE up in a new grand super-cycle I (purple count)
The whole decline since June is simply a WAVE TWO correction II (purple count)
Now the good news!
This month January 2017 We have completed the WAVE TWO correction!
Now we are entering WAVE THREE in the grand super-cycle.
Folks that is generational BUY SIGNAL Surpassing the great bull market of the 70’s.
I hope your right, I learned a lot last year following the pros here…….and by learn and follow I mean I didnt take anyone’s advise or analysis in my trading decisions and kept thinking another low in gold was comming….Big mistake on my part!!..learned my lesson….listen to the pros (PS, I subscribed to Spock because he’s incredible and I hope hes right to)!
The decline since June was especially painful. I think it dashed the hopes of the Gold Bulls who now think it was a one time wonder, not to be repeated. This chart suggests that may not be the case at all. If the chart is true there will be many opportunities to ride this new bull market for at least a decade or more.