No bull market is sustainable on a nonstop price spike, says technical
analyst Jack Chan, and he predicts the current gold bull market will soon
correct, providing an good entry point.
Our proprietary cycle indicator is down.
We are short GLD with a tight stop.
Our ratio finally sells this week.
Summary
A bull market in gold and silver has been confirmed, but no bull market is
sustainable on a nonstop price spike, therefore, it is not if but when a
correction will begin. Bull market corrections can be very sharp but short
lived, therefore, the next cycle bottom could be an excellent entry point.
Jack Chan is the editor of simply profits at www.simplyprofits.org,
established in 2006. Chan bought his first mining stock, Hoko Exploration, in
1979, and has been active in the markets for the past 37 years. Technical
analysis has helped him filter out the noise and focus on the when, and leave
the why to the fundamental analysts. His proprietary trading models have
enabled him to identify the NASDAQ top in 2000, the new gold bull market in
2001, the stock market top in 2007, and the U.S. dollar bottom in 2011.
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Charts courtesy of Jack Chan
