Autumn is a good time for gold. Every single C wave since 03 has started in mid to late summer and peaked between December and late spring.
I'm amazed that we can still see so much bearish sentiment on gold despite such a bullish chart. It seems like everyone is expecting gold to fall, some modestly to the $900 range and quite a few expecting sub $700.
All while gold has stealthily put in the strongest A wave advance of the entire bull market.
All while gold has gone thru the weakest B wave decline of the entire bull market.
All while gold consolidated in a huge triangle that recently broke out on heavy volume.
All while gold has closed three out of the last 4 weeks above $1000.
And finally, the bearish sentiment flourishes while the Dow:gold ratio has broken down out of the recent crawling pattern and is rapidly accelerating to the downside.
As far as I can see this C wave has done absolutely nothing wrong and is set up to breakout during the same time that every C wave has broken out.
I guess until it hits you over the head most people just can't see the big picture.
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