Gold Heading Higher into Early October Top
The strongest growth phases in financial markets develop over 64 trading days, or 3 calendar months. There is a specific reason why 64 days is so important, which I discuss in my daily subscription reports, but the important thing to know is that the growth patterns in gold have been faithfully following this 64-day script throughout this long bull market.
There is compelling evidence that a 64-day growth pattern is now underway in gold, which will take prices relentlessly higher into a potentially important top in early October.
In fact, this current 64-day growth pattern is the strongest such patttern of the entire bull market. And since the second half of a 64-day move has a strong tendency to be stronger than the first half, the upside target for this developing move into October is considerably higher.
Another way to visualize the development of these 64-day patterns is through the fractal dimension of the weekly chart, which provides a specific indication of the available energy remaining to power a market trend. So not only does the fractal dimension tell us when a market is primed and ready for a big move, but it also lets us know when a trend is "running out of gas" and has exhausted its immediately available energy supply.
These weekly trends have been very well organized in gold. The last two trends carried gold up just over 20% from the bottom to the peak. And the trend that is just underway is the strongest and most organized of the bunch.
The only caveat about simply rushing in to load up on gold futures and options is that there is typically a hard retracement between Days 21 and 32 during this pattern, and gold is just now entering this corrective zone.
But fortunately there are ways to pin-point ahead of time the likely spot for the retracement to bounce, and the uptrend to resume.
I discuss these cycles and patterns in much greater detail in my daily Fractal Gold Report. I invite you to take advantage of our free 30-day trial offer during this important upcoming period for gold, which also includes a bonus subscription to my daily report on equity markets.