• 287 days Will The ECB Continue To Hike Rates?
  • 287 days Forbes: Aramco Remains Largest Company In The Middle East
  • 289 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 689 days Could Crypto Overtake Traditional Investment?
  • 694 days Americans Still Quitting Jobs At Record Pace
  • 696 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 699 days Is The Dollar Too Strong?
  • 699 days Big Tech Disappoints Investors on Earnings Calls
  • 700 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 702 days China Is Quietly Trying To Distance Itself From Russia
  • 702 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 706 days Crypto Investors Won Big In 2021
  • 706 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 707 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 709 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 710 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 713 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 714 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 714 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 716 days Are NFTs About To Take Over Gaming?
Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

  1. Home
  2. Markets
  3. Other

Mining Deep for Gold: Part II

In my February 15, 2013, Mining Deep for Gold, I concluded by writing "I suspect far greater losses are in store for gold before a bottom is seen." Since that commentary gold has lost another $250/oz. The question in the minds of many today must be 'when will this decline end?'


Middle Section Counts

The February article illustrated a 48-week cycle which pointed to a turn in the price of gold in mid-May. Cycles expand and contract and this one is no exception often expanding to as long as 50 weeks. To narrow the forecast time period we can use the middle section model. The concept of a descending middle section was developed by George Lindsay and is essentially a decline (B to H) in a long bull market interrupted by two small rallies (E and G) at about the same level. Point E, the first of the two rallies, is called the "measuring point". In the December 2009 middle section, point E falls on December 11.


Larger Image

Point E counts 634 calendar days to the intra-day high of the basic cycle on 9/6/11. Counting an equidistance forward in time targets a low on Saturday, June 2 - leading me to expect a tradable low in gold on either the previous Friday or following Monday.


Larger Image

 


For more analysis like the above, take a 'Sneak-Peek' at Seattle Technical Advisors.com

 

Back to homepage

Leave a comment

Leave a comment