Short GLD on the balance extreme.
Gold has been a classic bubble that topped in 2012 but that has further downside.
We are now seeing the same pattern reproducing in balance. Given the strong down trend and general strength in the USD I believe we will crack through it. In particular that the bear raid in the indices seems to have failed and we are going into November which statistically is a good buying point in stocks until May.
I see it falling either to 100 or in the 70s which will be well into next year and perhaps form a new HS bottom in September or October when the indices perhaps finally retrace due to some Blackswan crisis. Studying cycles of revolutions it may be that some region such as China, Russia etc finally collapse or something that we are not seeing at the moment.
Follow the balance on the short side.
We are now seeing the same pattern reproducing in balance. Given the strong down trend and general strength in the USD I believe we will crack through it. In particular that the bear raid in the indices seems to have failed and we are going into November which statistically is a good buying point in stocks until May.
I see it falling either to 100 or in the 70s which will be well into next year and perhaps form a new HS bottom in September or October when the indices perhaps finally retrace due to some Blackswan crisis. Studying cycles of revolutions it may be that some region such as China, Russia etc finally collapse or something that we are not seeing at the moment.
Follow the balance on the short side.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.