http://cyclicalmarketanalysis.blogspot.com/2011/10/silver-rounded-top.html
It did test the September low last week, and also found support at the major trendline in white. The bottom is likely in place, and while Silver may start with a gradual rise, it is anticipated to finish in parabolic fashion.
Daily Chart
Gold also hit a major trendline last week going back to 2009. Interestingly, the timing at the bottom lines up exactly with the triangle apex.
A steady rise for Gold makes Gold a better performer early on than Silver, but Silver finishes much stronger with a parabolic move.
The upside for Gold and Silver to the target prices is equal on a percentage basis.
Daily Chart
S&P, how do you see it playing out next week?
ReplyDeleteSC, Happy New Year to you and yours! Thanks for all the hard work on this blog in 2011!
ReplyDeleteThe USD looks uber bullish right now, I just don't see this parabolic rise coming in Gold and Silver just yet. Just my opinion of course
ReplyDeleteI have smaller time frame charts coming for Silver and Gold with smaller movements shown.
ReplyDeleteAlso, update and charts for SPX coming tomorrow.
Thanks Bluemoon, all the best in 2012!
Happy New Year SC. Looking forward your SPX chart! Todays move in the DAX worries me for tomorrow but hopefully its not a sign of what the S&P will do.
ReplyDeleteI am really looking forward to seeing your point of view on gold and silver for this week.
ReplyDeleteHappy new year SC !
Hey SC, just ran across this and thought you and your readers would find it interesting. Checking back later to see if you have your SPX analysis for the coming couple weeks. I know the crash is coming from your previous threads, but looking to see some more recent analysis.
ReplyDeleteCheck this out:
http://tinyurl.com/7avw7wy
Hang on, has everyone forgotten 1044 by Jan 6th?
ReplyDeleteWas this right or wrong?
I for one hope its right, if not 1044, 1144 would do......it would just speak to how close this cycle analysis was. If the S&P is still over 1221 by Jan 6th, then the whole analysis (or timing perhaps) may be wrong. The link I just posted though seems to support SC's analysis, and Demark said that the S&P needed to be over 1284 by the end of 2011 for the market to head higher, and it didn't. I'm holding HVU however really nervous.....counting down to market opening tomorrow!
ReplyDelete