Gold Becomes A Moonshot
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Chaos Clinic for 8/7/2020
These charts show the gold Exchange Traded Fund GLD. Over the past 20 months I have commented on GLD many times in the Chaos Clinic, including
11/30/2018 price 115 Is Gold Set to Rally?
01/04/2019 price 122 Gold Is Shining
02/08/2019 price 123 Long Term Outlook For Gold
03/15/2019 price 123 A Possible Golden Opportunity
04/12/2019 price 122 Gold Looks Ready To Rally
05/31/2019 price 122 Gold May Be Starting A Major Move
06/14/2019 price 126 S&P Stalls While Gold Soars
10/18/2019 price 140 Gold and Silver Set To Rally
12/06/2019 price 139 Gold Is Looking Bright
01/10/2020 price 146 Gold Is Not Done
03/06/2020 price 158 Gold Is An Anti-Virus
05/08/2020 price 161 Gold Is Waving The "Going Higher" Flag
06/19/2020 price 163 Gold Silently Gains Strength
Each of these Chaos Clinics is in my blog on the home page at Moneytide.com On the top chart these comments are marked by yellow up arrows.
On that chart, there are two channels. The first one looked like a nice orderly 1-2-3-4-5. Them came the sharp spike low at X. I traced the cause of this to two close natal transits. After that a new, steeper channel formed. Just as the top of these two channels crossed, GLD rocketted higher. I traced this to Mars transit the natal Moon. What a launch!
The bottom chart shows the longer term pattern in GLD, updated from the 02/08/2019 Chaos Clinic. It continues to suggest that GLD will continue up into mid 2022. A channel drawn by lines 3 and 4 suggests a 240 target. The steep slope of the recent move, however, suggests a possible scale jump, a property of chaotic systems. This move up could become a non-linear growth curve, which could exceed the top of the linear channel shown.
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