Attn Goldtenters…
Have you met Mr. Jensen?
Long #GDX? I think we will see lot of DOWNSIDE soon! Bounce since 2015 has been caused by inflation bounce (abc RED) which formed wave "B". It's very common for "B"waves to fool investors into thinking "bottom is in". It is not – and as deflationary forces play out, GDX will drop pic.twitter.com/z6ibGUvdSQ
— Henrik Zeberg (@HenrikZeberg) July 29, 2018
Been tracking his tweets for a while now.
His EW is suspect at times. Like in your posted chart, where he has an ABCDE for a (red) c wave.
No go. Triangles can only appear in 4th and B waves, unless as a leading or ending diagonal in waves 1 and 5, resp. And then you number them 1-5.
But his instincts have been decent.
… also worth tracking Trading on the Mark … they have a TLT chart update due out this week, showing (potential for) 3 of 3 move higher in rates. That would rattle some timbers.
Appreciate your response Pedro, behind all our “credentials” we are nothing but “cavemen in blue jeans” AKA “animals” Instincts are invaluable…
A significant breakdown below $21.00 on a weekly basis would surprise me. I’m not saying a breakdown is impossible, but I would expect an upward trend to resume in the gold miners following this week’s FOMC meeting.
Expect we’ll test if not break 18.58 (red b low) in the months to come.
I’m not with Z calling for new lows below black A.
(And so I’m not on board his larger count.)