I think we are fast approaching the lift off point for the parabolic rally that always caps a C-wave advance. Once that begins there will be no more good entries into this market. All pullbacks will be mild or intra-day only. I’ve done everything I can think of to get people on board before the move starts. Hopefully you took the advice and got in at the intermediate cycle low in January or at the daily cycle low last week.
I’ve cautioned repeatedly to ignore the technicians trying to call tops. These analysts just don’t understand what is happening to the dollar. This isn’t about technicals. It’s about fundamentals. This is about a currency crisis. Folks in a currency collapse you would have to be an idiot to go to cash. I guarantee the market taken as a whole isn’t stupid. It’s going to find a way to protect itself. That will of course be to exchange dollars for gold, silver and mining stocks as the dollar collapse starts to intensify.
There will undoubtedly be a never ending stream of top callers all the way up. But the market is going to make these people pay dearly for jumping off the bull too early. Overbought is going to be a meaningless term in the days and weeks ahead. The only thing that will matter is finding something to buy in order to protect ones purchasing power from the currency crisis.
This will not end until the dollar puts in the final three year cycle low.
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