Here is my Gold Intermediate Cycle analysis from last weekend, and it would appear that the IC Low is behind us.
But to actually confirm a new Intermediate Cycle, Price needs break above my red Intermediate Cycle down trend lines for both Gold and the Miners (GDX). Friday’s move was very bullish but normally IC lines are not often broken on the first attempt, even in a Bull. I could be wrong about this but watch these lines closely.
SPX has broken my Green Trading Cycle trend line this morning, likely signaling that its shorter term TC has topped. WTIC has also broken it’s up trend line as well.
My expectations are that we will see the next 5-6 month Intermediate Cycle low in stocks sometime in the late June to Mid-July timeframe.
Crude has made a bullish run here but today it broke below my Trading Cycle #2 trend line which almost always signals the move into the next TC Low. The Green lines are TC trend lines and the Blue line is Crude’s longer Intermediate Cycle trend line. The problem I … Continue reading →
And perhaps a new Intermediate Cycle as well. … Continue reading →
I am seeing shifting Volume patterns since early 2016 in Gold and the miners. This stuff is right out of the Edwards and Magee handbook. Just Sayin…. … Continue reading →
I found this link on another Blog this weekend, found it interesting and thought I would share it. ? Always remember, exceptionally large volume is when smart money movers are in action, either covering old or taking new positions, in the market. It is during these high volume events that … Continue reading →