Every commodity I check and apply the 50-day 200-day MA to, I get the same reading. Copper has had one Death Cross, a small Golden Cross and now is set to created another Death Cross in the near future. The [A] wave back in 1980, add 30 years to that and we get 2011 after which copper also imploded! Add 30 years plus or minus 1 year and we get 2041 which would be a Supercycle degree wave 3 peak. 2071 will get commodities to Grand Supercycle degree top
Of course investors are oblivious to this and refuse to call the Death Cross anything important. Well folks, Cycle degree Elliott wave will eat gold bug investors for breakfast if they think it’s a good time to invest in gold. I have added some trend lines we could catch the bottom of an “A”wave in Primary degree as well. How tall that “B” will be is uncertain, except it cannot go to new record highs if a zigzag will happen. When commodities correct they come down with a “thud” not on some soft landing like gold and copper has made. Does 2008 look like a “thud” to you! It sure was but that was a flat crash. 3-3-5 A flat disguised as a zigzag.
From the [B} wave bottom in 2001 and to the “C” wave bull market tops has just about formed a perfect impulse with a huge 5th wave extension. The world is going into a deflationary crash and no little $1050 will hold it back. That long spike you see on the chart 4th wave bottom has a huge spike to the downside and it is also a signal to close off shorts. Now the Death Cross is just ready to touch and the rest will be history.
I also have been taking the Market Vane report for a month or so, but I stayed mum on it as it is another report that should confirm my suspicion. How it works,it only tracks the bullish amount in the markets. The less bulls there are the sooner a reversal come. The highest bullish reading was 91, which is extreme to a crash low of 16% bulls. At 16% a huge bull market formed. Lumber was another extreme at 98% and it’s well on its way in its crash.
I have never had such a line up indicators that are telling me the everything is going to take a deep hit into this fall. The DOW should also follow commodities down, but also could correct right along with gold.
I have personally warned my two sisters and daughter in what could happen into this fall, so they now whats going on and to make them feel better about my trading in this market. I told them not to worry as I might even make a few thousand on the trip down.