Gold Intraday Review: Market Crash Humbug!

 

gcz16-oct-13-2016

 

Gold seems to be oblivious to the carnage in the stock market as it has barely moved up at all. This does not surprise me as deflation may be a bigger issue at stake than we can imagine at this time.

Besides gold is potentially in a Cycle degree correction, not some Intermediate degree I was working with.  Cycle degree corrections are not over in 5 years as it can take 13 years to correct. Yes, I said 13 years as that is exactly what happened from 1919 to 1932, it also happened to silver from 1980 to 1993.  This time oil peaked first in 2008 (8 year bull market) then Gold followed 3 years later in 2011. The markets are full of Fibonacci turning years, which most people ignore, I don’t! 2008+13 will get us to that 2021 bottom. Which puts gold at 10 years to cover the same time period. 2021 also marks the 89 year cycle from a major bottom to another potential major bottom. 

Sure, we are going to get a monster “B” wave, but they are the biggest bull traps ever. This time it will be a “B” wave top in Primary degree, but that may not start to happen until the USD hit another record high. 

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