its another day, and the miners are leading-down. we have not found the bottom yet! doesnt mean gold has to make a lower low , taking out the 1850, but it could . to me the pattern looks like a bear flag that has yet to be resolved.
so i am using the opportunity to step back and get a big picture view.
lets start w/a longer term view of the dow https://gracelandupdates.com/wordpress/wp-content/uploads/2020/10/2020oct27stkmkt1.png note the expanding triangle/megaphone pattern when this tops , in my experience everything gets sucked down in a crash. gold included. so when this tops its best to be on the sidelines
the prevailing environment since 81 has been deflation . the bonds tell us that unequivocally https://gracelandupd...20oc27bond1.png
when the bonds break down from this trend , then stagflation will be the new prevailing trend., until then we are still in lockdown and deflation.
gold will continue to rise, once this correction is over . but the top in the broad market signals a big correction when the broad market starts its descent to hell