Loading ...EW on the Indices
I’m in general agreement with Avi on the indices here.
He’s still bullish for months to come.
I am too. Mostly because everything looks so dismal around the globe by comparison. And rampant QE continues in Yurp and Asia.
I’m letting Goode chart the EW outlook, based off his updated post a short time ago.
He’s revised his count to nested 1,2s off the Feb lows from ’16.
With that, we have a series of 4,5 unwinds still ahead of us.
Plenty of opportunities to call tops and load up short. That will each fail until the last set completes.
All I can add is that my monthly relative trend indicators remain in the outer ionosphere.
Based on my backtesting, this means we will likely need a succession of negative divergences at high degree to work our way into VLT sell pre-positioning.
Until we get all of those, perhaps not even winding up THIS year, I won’t be loading the boat short anytime soon.
That having been said, I’m not a buyer here and won’t be again until one of the larger 4’s completes.
Yes. Sprott funds are tax favorable if held for 1 year or more, like CEF. http://sprottphysicalbullion.com/why-sprott-physical-bullion-trusts/
It’s a great product. I personally think if you want told physical, this is the best way to do it.
Darn, commented on the wrong post.