Courtesy of Read the Ticker.
Why has gold not fallen below $1000 (well so far), what is the golden canary telling us?
Previous Posts:
SP500 Kitchin Cycle says trouble brewing – Update
SP500 How much higher ?
In short, the old heads out there know there is a ying for a yang! Currently the SP500 screaming higher, massive debt, low very !VIX. But as well all know this wont last forever, and the flip side could be very scary. Hence the hedge into metals, and building of the 4.5 year gold base, and as a Richard Wyckoff analyst a base is ‘future profits’ that can not be ignored.
Within the gold chart below (GLD) we see two dominant cycles, and both show a bottom is forming which should end with an upswing into year end. Notice that cycles do exist in the gold market. Cycle do go ‘missing in action’, and they do return. Cycles are guide to price highs and lows, price action (Wyckoff Logic) over rules cycles for investment decisions.
The indicator on price is our own RTT Steps which shows off climbing Support and Resistance.
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NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
Investing Quote…
…“After spending many years in Wall Street and after making and losing millions of dollars, I want to tell you this: It never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!”…
Jesse Livermore
…“People somehow think you must buy at the bottom and sell at the top to be successful in the market. That’s nonsense! The idea is to buy when the probability is greatest that the market is going to advance”…
Martin Zweig (The inspiration behind a number of Martin Zweig’s methods came, from Jesse Livermore).
..”The key to making money in stocks is not to get scared out of them”
Peter Lynch
…”The four most dangerous words in investing are ‘This time it’s different’ “…
John Templeton
In the short run, the market is a voting machine, but in the long run it is a weighing machine.
Benjamin Graham
