25 replies to this topic

[dougie]

thanks Senor: I just cant make out a good lt count anymore that has this down as a 1 Of some large parttern off the 2011 top

[senorBS]

thanks Senor: I just cant make out a good lt count anymore that has this down as a 1 Of some large parttern off the 2011 top

who is talking about the 2011 top?, I am just saying we "could" trace out 5 down from the RECENT rally high (near 1300) which could wave C of an irregular flat ending the correction, or could be wave A of a large developing ABC correction, or wave 1 down of an eventual larger and likely final move to major new declines lows below 1000. TOO many possibilities IMO

 

Senor

[AChartist]

log detrended monthly has backtested the breakout line, there is a 30 year cycle bottom now this month.

 

It is not quite 1/2 the way to the mean regression. Another low of shorter cycles can occur in 8 months, early next year,

 

lets hope that is after the next leg up.

 

In 5 years should be the high this time in 2021. In log scale the price is not that impressive a little over a double from here $2400 in 5 years, lets hope that

 

improves a lot by 5 years. Maybe Armstrong is right if it is that weak. 

[tradesurfer]

 

 

 

 

 

armstrong says :

 

 

With gold falling out of bed and a May closing BELOW 1206, we should see gold collapse into July. Gold could easily fall under $1,000 and this would also help to suggest a breakout for the Dow since right now they are trading on a correlated, yet opposite directional footing.

[Smithy]

Hey Senor, does the 15 min chart qualify as 5 waves up for you to unlock your Pole?

[senorBS]

Hey Senor, does the 15 min chart qualify as 5 waves up for you to unlock your Pole?

Nope

[dougie]

[dougie]

Let's see if that holds or not

[dougie]

Quiet around here

[senorBS]

Quiet around here

abc down could be done in Gold, I would favor that count but keep a close eye on other possibilities, my trading focus remains oil/oil stocks

 

Senor