until the bearish engulfing patterns are taken out they hold sway, on the day of the high volume was quite large, we could have finished a 5 up on that day.
on that note here are 2 counts from the captain:
1- here is the weekly gold chart https://captainewave.com/wp-content/uploads/2018/12/ewdec2318gold.png what strikes me is the rectangle pattern at the lows, rectangles occur at tops and bottoms when they are significant, according to edwars and magee. the pattern , on the breakout of the pattern indicates a bottom in this case the captain is quite bullish looking for over 1400
2- the dollar-https://captainewave...wdec2318usd.pngduring republican presidencies the dollar gets lowered , trump has yet to use that tactic. what strikes me on this chart is the lower high , just made . and the possible h&s top pattern(i have yet to check the volume to see if it conforms to the pattern)
the 3 labeling is my preferred count, but we will not for sure for some time. unless of course the market makes new highs or takes out a # that indicates that. but for now that is how i view this. there are more views on cycles which also suggest this is the case. we shall see
happy holidays to all. its a beautiful time of year.
dharma
ps just imagine all those folks who planned to take the family to dc to see the wonderful museums and heritage of this great country. it is all closed due to the incompetence of government . government is the cause of the problems not the solution! enough
