Longer-Term Market Trends Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Longer-Term Market Trends

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: ItsAllCyclical who wrote (2242)	3/30/2010 8:07:12 PM
From: SwampDogg	4 Recommendations Read Replies (1) of 3209

Just a very simple yet complex chart with many possible interpretations and counts. IMO the key is whether it was an orthodox top back in 2008 or was the top of Primary Wave 1 earlier in the 2004-06 timeframe. The ramifications are large. If it is the former one would expect a 'C' leg to match the 2008 downturn as you point out. If Wave 1 did in fact top earlier (which I prefer 2006 as being the top based on the slope of the move from 2004-2008) then the move down into 10/08 was the 'C' leg of Primary Wave 2 and Wave 3 began in 10/08. The levels of 12/08 are key in the gold stocks and so far they have held nicely. The action off the low of February was excellent and the juniors are waking up. IMO this adds evidence to us already being in Wave 3 (perhaps in the final days of a lower degree 2). If this is the case then I nice flush in the next week and a reversal would be just about as loud a bell as one could ask for. Perhaps a move down towards $1050-$1060 gold and a shake in the $HUI into the 350 area (all taking a couple of days and then boom). Big money knows what is coming and they want "in" (Sorry no chart but the count is clear I am quite sure)

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next