Jim's observation "cycles are tendencies, not events set in cemet in the future" reflects his experience around markets. I would add that cycles (time) confirmed by statistically concentrated money flows are more significant than those not. As I have written many times, cycles are windows of opportunities. The skill of timing narrows down these windows of opportunities through the study of concentration and movement of money.
Chart: London PM Fixed Gold and GLD (ETF) Total Assets WA Stochastic
Commentary: In The News Today
There is a contingent within the gold community that are anticipating one last decline prior to the move to $3500. They have taken their lead from a cyclical analyst that claims infallibility. How many times have people waiting for the last decline missed the market or on the other side waiting for that last move up been screwed? Cycles are tendencies, not events set in cement in the future. Cycles are best used to determine the inherent strength or weakness in a market. The cycle is what is supposed to happen. The market is what is happening now. For example, if the cycle calls for lower, but the market either goes sideways or up, it speaks to significant internal strength in the market.
We shall see, but what difference does it make? Gold is going to $3500 and all things gold will shake off their determined shorts. Jim
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