Wow what a push. We completed micro wave 1 of the larger wave 5. We are consolidating in micro wave 2. Not sure where that will stop but it looks like it wants to walk along the top of that blue wedge. Then a real big push up for micro wave 3 should occur next. And by the looks of Wave 1, I would say it should hit the top of that black upper trend line. That little red line at about 2280, is a 100% gain of the larger wave 3. Not sure if we hit that or start a rounding top for micro wave 5 just like 3 and 1 did earlier in the year. But who cares. This sucker is flying and if this keeps up, which it looks like it will, we will have that rate hike. And with a rate hike from these heights, the gains on the Vix should be enormous. Can't wait.
If we do make it to that 2280 mark, look at the 61% Fib retracement for a correction. Its right near that bottom of that long term uptrend line. The point is, big money is ahead. Be ready for the drop. AND IT'S NOT A STOCK MARKET CRASH!!!! We will take off from after February and fly to the moon or at least much higher similarly to what happened in early 2016. We should reach 3000 by sometime in 2020. That's right! I said it. I don't care what you are hearing from the TV dumb asses. This ship will not go down until Europe and Japan go first. WE ARE THE CABOOSE! Always have been, always will be. And while Europe and then Japan fall apart, their money will find a safe haven in the US markets for a short while. Until its time for our Ginormous Super Hyper HOLY CRAP Bubble to burst. We should start to see perhaps a rounding top in the year 2020. And then it will be time for the cycles (Plural) to bring down the house. If you want to know how far down, Just draw a trend line from the bottom of the 2001 crash, then the bottom of the 2009 crash and extend it to about 2022. Then you will know just how bad its going to be. Personally, I am selling my house in the year 2020. No Joke. I'll by a mansion in 2022-2023 for a Yuge discount. But I am getting ahead of myself. Lets just focus on December 15th - 16th. Good Luck
If we do make it to that 2280 mark, look at the 61% Fib retracement for a correction. Its right near that bottom of that long term uptrend line. The point is, big money is ahead. Be ready for the drop. AND IT'S NOT A STOCK MARKET CRASH!!!! We will take off from after February and fly to the moon or at least much higher similarly to what happened in early 2016. We should reach 3000 by sometime in 2020. That's right! I said it. I don't care what you are hearing from the TV dumb asses. This ship will not go down until Europe and Japan go first. WE ARE THE CABOOSE! Always have been, always will be. And while Europe and then Japan fall apart, their money will find a safe haven in the US markets for a short while. Until its time for our Ginormous Super Hyper HOLY CRAP Bubble to burst. We should start to see perhaps a rounding top in the year 2020. And then it will be time for the cycles (Plural) to bring down the house. If you want to know how far down, Just draw a trend line from the bottom of the 2001 crash, then the bottom of the 2009 crash and extend it to about 2022. Then you will know just how bad its going to be. Personally, I am selling my house in the year 2020. No Joke. I'll by a mansion in 2022-2023 for a Yuge discount. But I am getting ahead of myself. Lets just focus on December 15th - 16th. Good Luck
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Oh and by the way, I bet the Dow reaches about 19,500 - 20,000 before this rate hike.
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Monthly spot gold chart multi year view
Here is a what if scenario that I think needs to be kept in mind.
If this downward bear market for gold started in May of 2012, then WHAT IF we still are not finished with the bear cycle for Gold. If these cycles last approx. 8 years then what if we are only in year 4. Just food for thought. So take a look at the two dark bold blue lines that are forming a wedge. We are currently in that wedge. What if we bounce off that blue line in late January 2017 to retest the upper blue wedge line. If we don't break out of that then look out below. The bold red line has three touches to it back in 2001, 2005 and I think 2006. The monthly Ichimoku cloud suggests that we might not bottom until Feb of 2018 at around the $900 level. And that would make sense to turn up at that point for an 8 year cycle. Once again, just a thought that I will be keeping in mind as we test key levels. So this January is very important to see how gold behaves if we do reach that low at around $1115. If we somehow break that (and I do not believe we will) then a retest of the bottom is called for. But I do think we will reach $1115.
Here is a what if scenario that I think needs to be kept in mind.
If this downward bear market for gold started in May of 2012, then WHAT IF we still are not finished with the bear cycle for Gold. If these cycles last approx. 8 years then what if we are only in year 4. Just food for thought. So take a look at the two dark bold blue lines that are forming a wedge. We are currently in that wedge. What if we bounce off that blue line in late January 2017 to retest the upper blue wedge line. If we don't break out of that then look out below. The bold red line has three touches to it back in 2001, 2005 and I think 2006. The monthly Ichimoku cloud suggests that we might not bottom until Feb of 2018 at around the $900 level. And that would make sense to turn up at that point for an 8 year cycle. Once again, just a thought that I will be keeping in mind as we test key levels. So this January is very important to see how gold behaves if we do reach that low at around $1115. If we somehow break that (and I do not believe we will) then a retest of the bottom is called for. But I do think we will reach $1115.