I have made changes with some of my locations, but in the end the same wave 3-4 in Intermediate degree stays the same. Any wave 4 counter rally is a bear market rally and to confirm that, the Euro will eventually hit a new record low. It is the US dollar that turned into a safe haven currency, which will send the USD soaring in a massive bull market that only the deflationists may understand.EWI forecast of a deflationary crash is coming true and his bullish US dollar is also coming true.
The sad part about it is that this planet is going to suffer a massive deflationary presures the likes no one alive has every witnessed. Every single asset class including gold will suffer severe price shocks in the next 3 or so years that will boggle our minds. I will not spend my time counting all the little intraday waves as I’m not a day traders and never will be. All I need is three degree levels as they spawn huge moves where someone can make some decent money on.
Look back up and we can see our first Death Cross and the results of this DC. I’d say without a doubt 2014 would have been an excellent short bet for those paying attention.
Once the EURO soared again in 2017 it took a long time for the Golden Cross to form, but this is always the case. On the Euro daily chart the Euro Death Cross has already happened and now on this weekly chart another Death Cross is ahead of us. Our CAD is in the same leaking boat and so the EU zone is not the only currnecy that’s going to take a hit.
The commercials are not all that distorted, and my Market Vane report still needs to get rid of more Euro bulls, so much more downside to the Euro should happen.
We are in the same situation as the top of 2008, when every asset class will fail except for the US dollar. In 2008 the USD soared as everything crashed. This was a brief intense 8 month horror show, but this time we could end up with a 2 year decline doing the same thing. The world is in a massive real estate bubble never before seen in history, and those rich people that think that real estate prices are going to keep flying at 10% a year are going to get shocked, when no more buyers show up!
In Canada, our real estate bubble has already burst, and it will get much worse in the long run. Nobody is talking about the world fertility crash, which shocked me the first time I researched it. Massive deflation is in our future, not massive inflation. As usual the US FED is still fighting inflation making matters far worse.
Printing money will never solve this problem as it is part of a much bigger 30 year cycle and even 100 year cycle. Little Iceland took down the entire world in 2007-2008, so it will not take much for any other country to implode as well. Can gold crash to below $800? You bet it can, as that will be just the opening shot. Facebook is another example in what’s coming, and all those gold investors will get the shock of their lives once gold breaks that $1047 price level. I have a silver 10 ounce coin bet on it and once it crosses this red line, my gold cycles consulting fees will explode. No money manger will get to see my gold cycles research unless they drop a pure silver 10-Troy ounce coin in my hand first, and that is only for a 2-3 hour session!