To start, I’m going to assume that gold will drop down into another eight year cycle low pretty much on schedule sometime in late 2015 to mid 2016. As long as that assumption is correct then I think we also have to assume that there is another C-wave advance between now and then.
The reason I say this is because all markets are governed by the forces of action and reaction. Hence in order for gold to drop down into a correction severe enough to be considered an eight year cycle low, it first has to generate a rally big enough to trigger a profit-taking event of that magnitude.
So let’s begin by looking at the last three C-wave advances and the corrective action that followed each one...
That is a small sample of the latest Weekend report.
In all fairness I have been warning traders that this was coming. This is a chart I posted to the blog on November 24 2011.
Frustrated gold bugs may want to read the entire weekend report before you throw in the towel on the sector. The 16 month correction is completely normal and should soon generate another huge leg up in this massive bull market.
I will reopen the $1.00 two day trial subscription for anyone interested in reading the report. If you decide you want to continue accessing the nightly reports do nothing and the trial will automatically convert to a monthly subscription after the second day. If you are only interested in reading the weekend report just cancel the subscription by following the directions in red print on the home page before the second day expires.
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