Gold Will Not Reach $1500+ For About 6-7+ Years

Gold will not reach $1500+ for about 6-7+ years (very very unlikely that it will reach $1500 before then, one can only talk about likely scenarios). Gold's multi month uptrend line clearly broke down two weeks ago, see http://stockcharts.com/charts/gallery.html?%24gold, which was a major 5% follow through sell signal. Note that gold has a very bearish very large spike on the candle at $1033.90.

First gold will fall to it's primary multi year Secular Bull Market (since April 2001) trendline at $500ish (see chart two at http://www.joefrocks.com/GoldStockCharts.html) in the next 18 months in the Wave 2 Cyclical Bear Market. Then in Wave 3 gold will reach $1500-1700 in 6-7+ years. The final Wave 5 Cyclical Bull is likely to be a relatively brief 18 monthish huge blowoff spike move to $2000-2200ish in the year 2018 to 2020.

Gold is likely to put in a slightly higher bearish double top in the next few months, because, gold tends to lag HUI/XAU at important cycle highs/lows. Gold will probably behave in a similar fashion to the S & P 500, after it (as gold did two weeks ago) hit a major 5% follow through sell signal in July 2007, see chart 4 at http://www.joefrocks.com/GoldStockCharts.html.

SPX's (S & P 500) July 2007 cycle high was a potential Cyclical Bull Market cycle high because of the 5% major sell signal, but, thanks partly/largely to massive Fed credit injections, SPX put in a Cyclical Bull Market cycle high in October 2007, only +1.30% above the July cycle high, peaking in dramatic rollover mode, see chart two at http://stockcharts.com/charts/gallery.html?%24spx. So, the 5% major sell signal worked well, as it almost always, if not always, does. One can't completely rule out the unusual/unexpected.

The deflationary major worldwide economic downcycle is obviously going to curtail commodities demand. The gold buffoons don't even understand fundamentally what's going on.

Ignore the desperate bumbling gold scam artists, whose house of cards has begun to collapse. Their BS is obvious to most anyway. They're being read mostly as a curiosity.

Remember that deception for personal gain is fraud, which is criminal activity. Also, attempting to manipulate gold or gold stocks is criminal activity. Pump and dumpers go to jail all the time.

.......http://www.JoeFROCKS.com/ .