Ha ha ha… well, with the way he commands the respect of reformed gold bugs it almost seems as if gold will not rally until Marty says gold will rally.
Again, I am not disrespecting the man and his computer. I have heard the man talk and I think he is very intelligent. The computer, I know nothing about. His theses, when politics are kept out of it (Europe is more bullish than the US, as we have noted for all of 2015; see chart below) are sound as well.
So now, given the speculative short positions in gold, Armstrong thinks a short-covering rally can happen. That would relieve what NFTRH has been noting is a compelling risk vs. reward in the CoT data. It may even get a few Gold Generals reanimated before a final, and lethal, down leg.
That’s the Marty view. My view is that it is very possible and this will be subject to the macro funda’s at such time. For now, I agree on bounce potential. We are managing what should be obvious bounce targets weekly in NFTRH.
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