I stretched my weekly chart to 1500, so we can see back to that 2008 crash bottom. The Death Cross has already happened just like it was on a daily chart. I have only used two indicators, Two parrell lines and one 50-200-day MA. We can slice and dice any wave positions, but the fact remains that the 2011 peak was a 30-year cycle peak of a gold&silver mania bull market top. 1980 was the previous 30 year mania peak which also burst producing close to a 20 year bear market in gold and silver.
The wave counting experts ignore silver most of the time becuase they are blinded by the glitter of gold as its charts pointed up, while silver pointed down. Silver is a better leading indicator where gold is going to go to, than the other way around. No gold or silver stock ETF confirmed any part of gold’s breakout attempt, which obviously has failed so far. The majority of investors are always wrong at the extremes and if investors think fundamentals will send silver soaring, then they have a nasty surprise coming their way. A Cycle degree mania bubble does not get corrected in a little 4-5 year bearish phase, least of all with just one soft landing. The correction will still last until about 2021 which would make gold and silver a 10 year bear market!
I’m a small trader not an investor, as I would never knowingly build a heavy long position, when the entire world is sitting on Death Crosses! Below $13 is the big silver number to beat, and will be the price level that confirms the last 2-3 year bullish phase was all a smoke and mirror bull market. The angle of silvers decline should turn steeper as it has done many times before. Silver also has a tendency to slice through any Fibonacci support even if it may be just for a short time peiod.
Deflation is the real threat folks, as we come off this hyped up, pumped up world of inflated prices. What most silver investors don’t know is that the world population fertility rate is crashing and has been crashing, as the major boomer populations start to die off in record numbers. Dieing boomers are “Permanent Sellers” of real estate, with smaller and smaller new generations being born following every stock market crash.
I’m very bearish on this market until I see that a major support price level has been reached! The 2008 crash low or a bit lower, is where we should expect for all this to settle. By that time all my short positions will be closed off, with an impending huge bullish phase during 2019! This will also be a big fake, or bear market rally, and it will be the very last chance for metal investors to unload at near a bubble top.
Conventional wave counting will not work in the commodities world commodities are connect together with huge zigzags lasting over 40 years. Our next zigzag decline is far from over and this fall may only be part one of a 3 part move. (A, B, C,) in Primary degree.