PM Elliot Wave Theory - Gold's ObituaryAnother take on PMs
https://www.kitco.com/ind/Petch/2014-10-29-Gold-s-Obituary.html
The mid-term Elliott Wave count of gold is shown below, with the longer-term count shown over the past 7 years. It is important to note that the entire move from 2008 until present is thought to be a part of the same pattern. Following wave (E), this will complete higher Degree wave [C], which should be followed by wave [D] up and then wave [E] down. Based upon this pattern and knowing that wave (E).[C] has at least another 12 months left before bottoming, the remaining two waves should each consume at least 2-3 years each. If one does the math, the shortest expectation for a bottom in precious metals is in 5 years, or 2019 while the longest expectation for a bottom is 7 years, or late 2021/early 2022. There is no reason to warm up to precious metals anytime soon, aside from those who want to collect bullion as an averaging down approach. I thought this wave count I had was spooky and did not assign much validity to it, but examination of my US Dollar count indicates it probably is quite valid now in retrospect.
This is not what anyone really wants to hear, but in the current environment, a rising US Dollar is the symptom of deflation, with everyone seeking to preserve capital. There will be time to buy gold again…maybe when we hit a bottom in wave [E] near 2020, but there will be a very nice trade once wave [C] bottoms. The trade for the next 8-10 months? Being in US Dollar based investments, with index funds based upon the S&P 500 Composite Index. I decided to post this on the web because there are so many Gold BUGS expecting gold to vault to the moon. In the current environment, if it was to have happened it would have already started…With this, I bring you the Obituary of Gold. It will rise like Phoenix out of the ashes, but first it must be laid to ashes. And that should happen over the next 5-7 years, as per the Elliott Wave count of Gold.