Courtesy of Read the Ticker
Lets review gold and silver stock charts, which look ready to shoot higher.
The Richard Wyckoff logic applied to GDXJ (below) suggest the demand and supply accumulation phases are set up for higher prices over the next 6 months. Note the minor pullback (LS = Last point of Supply) fails to break down into prior prices, this suggest strong demand is present. Also note the terminal shake out (or stop busting run, COVID spike) has allowed the informed to rid the weak hands out of long positions.
NOTE: This chart is via RTT PLUS membership, from the RTT Wyckoff Campaign (RTT WC) watch section.
The longer time frame BLUE cycle suggest the gold stocks index (!XAU) is near a major peak, but not yet (RED cycle) and there is a window over the next 6 months for higher prices.
This video cover more readtheticker.com chart studies on the GDXJ.
Changes in the world is the source of all market moves, to catch and ride the change we believe a combination of Gann Angles, Cycles, Wyckoff and
Ney logic is the best way to ride the change, after all these methods have been used successfully for 70+ years.
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Investing Quotes..
…"Mathematics is the only exact science. All power under heaven and on earth is given to the man who masters the simple science of mathematics."…
William D Gann
..“One must search through a maze of complex and contradictory details to get to the significant facts … Then he must be able to operate coldly, clearly, and skilfully on the basis of those facts.” The challenge for the successful speculator is “how to disentangle the cold hard facts from the rather warm feelings of the people dealing with the facts.” Moreover, “if you get all the facts, your judgment can be right; if you don’t get all the facts, it can’t be right”…
Bernard Baruch
..“If it’s obvious, it’s obviously wrong.”..
Joe Granville
Unless you can watch your stock holding decline by 50 per cent without becoming panic stricken, you should not be in the stock market.
Warren Buffett
..“It is much harder to sell stocks correctly than to buy them correctly.” Because of the emotional aspect of trading, if a “stock went up, the average investor would hold because he wants more gains – he’s exhibiting greed. If the stock declines, he also holds on and hopes the stock will come back so he can at least sell and break even – he’s hoping against hope”..
Bernard Baruch
