1970s Gold Bull Fractal?
Here’s where I expose my inexperience. I’m calling this a possible fractal based on:
If you start at the close of the Gold Window in August, 1971, the 70s gold bull enjoyed two legs of equal time with a 50% correction leg of 50% time of each bull leg.
The current bull has also seen a 50% correction that took, roughly, half the time of the first bull leg.
My gold time and price projection assume a time leg equal to the first bull leg, and a price of similar outperformance of gold’s 2nd 70s bull leg compared to the first.
Fire away, I can take it …
Suggest watching this video for similar analysis from Mike Maloney.
https://www.youtube.com/watch?v=pboxv8Hne1E
At the rate of currency production (blatant effort to devalue the USD), I am beginning to think the correlation between the 2000-2011 run may pre-date the first half of the 70’s and right now we could be more closely correlated to the period 1970-1974.
The oil crisis of the mid 70’s could (and I think is) still ahead of us. Remember all that energy conservation BS we were fed during that time (my Jr. High yrs) – same as it ever was but more eyes are open this time around. Thanks for the post MtD.
Thanks for sharing. I hadn’t seen that, but I’ll take that company any day!
This is a model I am using as well. This bull market is running along 2.5X the time scale as the 70’s version. Seems we may be about 1978 now
Based on my GSR chart, silver could go to $1,000. And the chart of SILJ/silver ratio hints SILJ could go higher than that. It seems pretty crazy.