Originally the 2015 bottom was wave 3 in Intermediate degree but that started to take far to long, so I looked for a higher degree position.
I have been using the (A) wave bottom for 3-4 months and at this time don’t see any reason to change it.
At this time the present bullish phase is what I call a “C” wave bull market, which still has a long way to go. Diagonal wave structures can develop at any time, and I still need to see some sort of Minor degree wave 3-4-5 structure to play out.
EWI (Elliott Wave International) has the same bottom for December 2015 as I do so they are bullish as well.
Yes, we should get corrections as nothing travels in a straight line for very long. The last thing I want to do is turn bearish on gold too early!
Gold was well above $1500 at one point and I’m sure $1600 is within reach this year. August 15, 2019, will be the next full moon which can trigger surprise reversals.
This is the position for solar cycle 24 to the end of July 2019. So far this has produced about 67% spotless days for 2019.
I would like to see that number register 71% or more. Each dot represents a month, and sunspot activity could bounce at any time as well. We could have another year or so as solar cycle 24 can still flatline until the 2020 elections or inauguration of a new president.
Spaceweather.com does a great job of posting solar cycle 24 sunspot activity and the new solar cycle 25 sunspots when they arrive. The first peak in 2011 sent stocks soaring and at the same time gold and gold-related assets all started to crash.
Of course many will just brush that off as a coincidental event but when you go back in gold chart history gold has been repelled or attracted by sunspot activity.
At this point in time, solar cycle 24 is dying, and gold prices have exploded.
I talk to people about the sun and I encourage them to put Spaceweather.com on their smartphone homepage. Investors will never know how important solar cycles are in driving prices and climate change. Solar cycle 24 drove the stock markets in early 2009 and the same thing is about to happen in the next 1-2 years with solar cycle 25!