Textbook example of a head-and-shoulders pattern. We have a strong bullish uptrend to reverse, which has been in place since March. The neckline is well defined and connects with the very important June 8th "internal top" for the markets. After June 8th, we began to see big declines in market breadth, which accelerated in August. The neckline also served as...
The bottom in the precious metals has been forming since early 2016. As you can see from the chart of the ETF for the gold miners, GDX, it had a quick rally that year and then went into another sideways pattern until January 2019. Now the chart appears to be getting ready for a stronger up-move.
You can see that a long, bullish potential inverse “head and...
