Loading ...Do recent Au corrections imply imminent rise?
For a somewhat interesting chart-related suggestion that the gold price might be about ready to rise see
https://jessescrossroadscafe.blogspot.com/2019/11/about-these-most-recent-price.html
where “Jesse” shows 3 sharp price declines in the gold prices in the spring of this year followed by a big rise, comparing them with 3 more recent sharp declines, implying that there might be a big rise now much as there was a big rise after the downs of the spring.
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Comments for after you’ve looked: Is he is somehow oversimplifying things? Or am I missing something obvious? 2 of his charts show 4 significant downs in the spring before the rise while another shows only 3 and seems to leave out the 4th. Are we maybe to get a 4th down before a big rise if his scheme is correct?
(I personally am more unsure than usual but am a bit more inclined to think *down* to or below 1400 for the short to intermediate term than up — then up, with worse near term effects in the stocks because of tax loss selling.)
That website is just weird eerie and strange.
Here on goldtadise.com we must stick pretty much to commentary on the markets, especially TA. We need to avoid discussions of religion and politics and many other things.
Arthur Cutten, the proprietor of Jesse’s Cafe, describes himself as a software-savvy M&A specialist high in a Fortune 500 company with international experience who cashed out at the right time in the 2000 dot-com spike. Included in his past education apparently may have been some formal instruction in TA.
Having cashed out in time, he gets to be in charge his own website from his home accompanied by his late wife’s dog including on the site whatever he feels like including.
I know what I find useful and I know what I disdain on his site. I go there briefly several times a week, briefly, and raid what I find useful, which comes from different categories, and try not to dwell on that which I do not find useful. He does not charge money and I am grateful for what I can take.
As I noted, I was interested in but not overwhelmingly convinced by his tentative suggestion that several abrupt downs earlier in this year being followed by a big up might be about to be repeated.
I might have some details of his biography and background wrong. Don’t hold me to it. For example, I have only vague memories of reading somewhere (maybe his site maybe not) that he studied TA in business school, but I may be wrong.
Anyway, I just thought it an example of what some of you like to post in the possible “fractal” category except that he posts this example in his own format on his very own personalized site.