A number of the gold miner indexes printed DeMark Sequential countdown 13 buy signals on the daily charts yesterday as well as the hourly. Gold itself printed a TD Sequential 13 buy signal (Perl's settings) 5 days ago, but it did not appear that the ending diagonal pattern was complete and it had not hit the target price area of C=A * 1.618 = 1169.1. to 1154. A TD Combo 12 countdown occurred yesterday in @GC. Commodities often turn after a 12 countdown print of the TD Combination signal.
GDX, which is a good proxy for the group would have a TD Price flip (low risk entry) buy trigger (i.e. a close higher than the close 4 days prior) on the daily chart if it closes at 21.40 or higher today. It is currently trading at 21.44. It's initial wave appears to have been a barrier triangle, with 13's printing at key inflection bottoms.
GDX's move up so far counts well as impulsive, which permits some tight stops if the move down is not yet complete.
Regardless whether the absolute bottom is in, the main and alternative counts for Gold and a cycle analysis all suggest gold will make a multi-month five wave climb (Wave 3 or C?) next toward a high above the July 2016 highs.
Edited by Geomean, 02 December 2016 - 02:14 PM.