Forget all of the mess of lines and statistical analysis, let's just keep this super-simple.
I am still not convinced that we are in a bull market. I have never seen in the charts a situation where a bull market rises up out of the ashes straight out of a bear market, without an accumulation/consolidation period. I could be wrong, and this could be the first time that we've ever seen it happen. But to call this uptrend a straight-out bull market beginning just doesn't make much sense to me.
I think this is a dangerous time to buy LTC for the short-term investors, but for the long-term holders, it really won't matter. The impending bull run that will occur in the fall or winter of 2018 will eclipse whatever happens in May and June.
I think the beginning of the uptrend starts after a breakout of this humongous triangle. But my best guess is that we will revisit $114 before that happens. BEWARE, however, because once we get to the end of this gargantuan triangle, there's a 50/50 chance of it breaking out for a bull run, or plummeting.
Thoughts?
I am still not convinced that we are in a bull market. I have never seen in the charts a situation where a bull market rises up out of the ashes straight out of a bear market, without an accumulation/consolidation period. I could be wrong, and this could be the first time that we've ever seen it happen. But to call this uptrend a straight-out bull market beginning just doesn't make much sense to me.
I think this is a dangerous time to buy LTC for the short-term investors, but for the long-term holders, it really won't matter. The impending bull run that will occur in the fall or winter of 2018 will eclipse whatever happens in May and June.
I think the beginning of the uptrend starts after a breakout of this humongous triangle. But my best guess is that we will revisit $114 before that happens. BEWARE, however, because once we get to the end of this gargantuan triangle, there's a 50/50 chance of it breaking out for a bull run, or plummeting.
Thoughts?