Cryptogold14

Cryptogold14

I expect the S&P to top out sometime in the next couple months (if it hasn't already) before entering a correction period. The channel reflects the 0.88 - 1.13 retracement range characteristic of the pattern.

Cryptogold14 Updated 

It is helpful to view past recession trajectories to get a visual idea of where we are at the moment. I chose the recessions which were most relevant to today's market conditions. The 01 (purple) and 08-09 (dark blue) recessions were the first "modern" recessions where MMT was being implemented and tech made up a significant chunk of the market. The 70 (reddish...

Cryptogold14

I present the Grand Silver Supercycle. Silver has followed Elliott Wave Theory nicely through the years. The price hit a century low during The Great Depression, beginning what I believe to be the first wave of a supercycle. There is a clear five wave pattern up from this low, peaking in 1980. This is supercycle wave 1. Then, we see a five wave corrective...

Cryptogold14

Silver nearly completed a Head-and-Shoulders Bottom today. It is currently at resistance. A close above $21.50 tomorrow would confirm a breakout. The trading volume has been elevated, which is what you want to see on a H&S right shoulder. H&S patterns are some of my favorite because they are relatively easy to trade, and 71% reach the target. The demand for...

Cryptogold14

Silver looks to be forming a bottom and is currently beginning the bullish CD leg of either a bearish Gartley or Crab Pattern. It meets the criteria for both so far. This interpretation is further reinforced by the completion of a clear five wave structure down, ending in July. I'm setting a tight stoploss as there shouldn't be much more downside if either of...

Cryptogold14

“War is peace. Freedom is slavery. Ignorance is strength.” The FED is executing a soft landing. We did not enter a recession. There is no more inflation. This is the start of a new bull market. All is well. In this age of doublethink, if enough people in authority say something and enough people believe it, does it make it true?

Cryptogold14

I made the mistake of shorting Apple into earnings based on a quick analysis without carefully analyzing its chart pattern. It's clearly on the last leg of a shark pattern and should continue pushing higher. I will be watching carefully for another opportunity to short near the 88% retracement point, which also happens to be near trendline resistance. Tips:...

Cryptogold14

“History Doesn't Repeat Itself, but It Often Rhymes” – Mark Twain I've been noticing similarities between the Great Depression and the current market. Both were proceeded by parabolic ascents, and both had steep tops. The descent from 1929 to 1932 is shown in gray. Key support levels are marked in green. Two laddering strategies are shown with suggested...

Cryptogold14

“History Doesn't Repeat Itself, but It Often Rhymes” – Mark Twain I've been noticing similarities between the 2008 top and the current market. If history rhymes, the market should find some support soon (3900-4000) before further downside later this year. This theory is further supported by: 1. sentiment,which is at an extreme low 2. the long term...

Cryptogold14

Even with the melt your face off rally from the last two days, the weekly pattern on the S&P is still bearish. The current price is below both the 100 and 200 DMAs. Until the market forms a higher low and higher high, I have to consider that the last two days are just noise caused by changes to the rate hike forecast and high negative gamma. The candlestick...

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So far, Elliott Wave Theory has done an excellent job of predicting the recent bear market. There was a clear five wave pattern down from A. B retraced exactly 0.618 (the golden ratio) of A. Elliot Wave Theory predicts that we are currently on Wave C, assuming this an ABC pattern. If C extends farther than 161.8% of wave A, the ABC correction pattern is...

Cryptogold14 Updated 

So far, Elliott Wave Theory has done an excellent job of predicting the recent bear market. There was a clear five wave pattern down from A. B has retraced exactly 0.618 (the golden ratio) of A so far (it's possible B isn't yet completed). Assuming that 4595 holds, Elliot Wave Theory predicts that the C wave will extend to one of the levels shown in the chart. ...

Cryptogold14

Three potential wave counts are provided on the chart. Elliott Wave Theory predicts that Wave 5 will be the length of Wave 1 when Wave 3 is extended. If this holds, wave 5 is not yet completed. Given the drop in volatility and bullish reversal indicators, I'm conceding that it is possible that wave 5 is in fact completed, and we are currently on a three wave...

Cryptogold14

Me? With plenty of cream and sugar (inflation). Best of luck, gold bugs.

Cryptogold14

The recent correction has come just as expected, and is nearing its initial goalpost. A terminus at 4375 would correspond to a wave 3 down of exactly 1.618 of wave 1. Wave 5 should end somewhere in the green box, which will set up for a bounce. I expect the bounce to at least get up to 4500 and possibly as high as 4750. Wave C down will then commence.

Cryptogold14

The Gold/Silver Ratio decline appears to be nearing the end of its historical drop. The ratio is on its fifth wave extension, it's entering a convergence zone, and RSI shows oversold. At a silver price of $31 and gold price of $2125, the ratio should reach its terminus. I am still bullish silver in the short term, but I think it will be gold that really takes...

Cryptogold14

The markets are at a critical juncture as the curve is starting to roll over. Watch the next couple weeks for a convincing break higher. Failure could result in a move to the downside.

Cryptogold14

While studying the charts, I noticed that a 2.618 Fibonacci extension nicely coincides with the top trend-line of a potential broadening pattern. Do I believe this will play out? No. Is it possible? Definitely. I doubted we'd see 26,000 without a wave down, so at this point, what's another 1000 points up. No big deal in this crazy market. Please see my...