caldaro.wordpress.com from “The Elliott Waves Lives On”, who has predicted all major turning points since, and including the crash of 1987, is warning that the bull market is nearing its inflection point. Unfortunately, because of advanced age, instead of daily updates he is now only updating Wednesdays and weekends.
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Tony Caldaro is a joke, followed him for years, every year is a major turning Super Cycle crash, than when it made all new time highs, he would just re-number his waves, ohh well we let the market tell us what wave we’re in.
There was even a review written where someone tracked his medium/long term signals and they all turned out to be pretty meaningless, because of the being wrong, and then just relabeling them.
Don’t worry though he will finally be right this time, given we’re long in the tooth longest bull market in history pushing close to 10 years, so this time when he is right and doesn’t change his count, he can look like a guru, doesn’t take a genius though to predict a crash is coming fairly soon, and to be cautious.
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Elliot waves don’t work. Each person who tries to use EW comes up with a different count. Some years ago, I found out the markets are not random with regard to time. I use my cycle analysis to help make trade decisions. It doesn’t always work out, but I would rather have it than not. My system has just started recently. I call it “Slow Swing Forex”, trades lasting several days usually.
EW will work one of these times.
If you see the double top and use basic technical analysis you dont need elliot waves…
Still, this day is a suprise in its magnitude. Lets see how long the panic lasts this time. Seems like the big boys suddenly acknowledged that stocks are overvalued and interest rates rise… Gold will be the next heavy mover.
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which way, when, and by how much?
asking for a friend…
I thought the direction was very obvious if you look at the chart. Gold will move upwards and already has today. Yesterday I increased the exposure by 15% in my strategy after posting here. You can never know the exact timing but it was quite spot on this time. I expect gold to break out to the upside soon and hit 1290 this year.
Good luck with your trading.
done - turnaround confirmed.
I can def. seeing breaking out, but also see it plunging more especially with rates going up, but we maybe could have the mother of all events of bonds and stocks crashing together and gold becoming a safe heaven.
Eventually though it will skyrocket once we enter the phase of hyper inflationary collapse with the next infinity money print.
Buying gold physically as insurance, at these levels it’s a buy at any level below $3000-$5000(serious issues if it hits these prices) is a buy, when the actual hyper inflation kicks in and it becomes unimaginable levels. We have very good modern day places to test the hypothesis of inflation and prices, just google gold prices in Russian Rubles, Venezuela, ect.
I agree but I would prefer a world where these circumstances dont hit reality in the western world. And we dont need hyperinflation to earn some good money with gold / silver. It´s all cyclical so you have enough opportunities without major turmoil.
Rising interest rates are worse for stocks than for gold. In fact when interest rates rise stocks get hit a lot at these valuations, bond prices fall, real estate financing is more expensive therefore prices fall aswell (get out of REITS while you can)… So where does the money go? Gold was always a good inflation hedge and these days you will probably see some capital fleeing into crypto/bitcoin aswell. The latter I would not expect until December though because of infrastructural reasons that will just be solved in November. (google BAKKT)
We are on the verge of a major cylcical shift. Historically though this does not unfold from one day to another which is why trading the markets is more difficult than usual these days.
Tony Caldaro was right on again with his prediction of a major market turn. He helped me get out of my long positions before the damage got out of hand.
In his last update on Wednesday he set his lowest short term support level at 2632 - only 5 points off.
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