Gold Gold has fulfilled the minimum requirements for a completed ABC Wave 4 correction, meaning a rally to new all time highs, above $5,600, can start at any time. The upside is not just $5,600, it's anywhere from $5,600 to $7,500, or even higher, later this year. This will be our first stab at an early entry, with the Jun 18th $500C in the table below. Being a first attempt to catch a new leg up means it could get stopped out and we try a second time, or, it could mean we nailed as close to the low tick of Wave 4 as is possible. My guess, 60-40 we get it right the first time. GLD 180 Minute Chart GLD target zone for Wave 5 is $577 - $675 Use -50% hard stop and if hit, expect to go back in later this spring or summer. Into The Weekend We are short stock indices and Bitcoin, while still long some big oil stocks. That will be our option posturing (along with GLD as per above) going into next week, which culminates with Good Friday weekend, a holiday weekend that has often marked major changes in trend. If that is the case this year, then we can anticipate turning bullish, especially if next week is hard down into Good Friday. Yes, that is a lot of "ifs," to ponder...but that's why I'm paid the big bucks, right? I'll review the pertinent charts, tomorrow. Active Options* - Blue Line Premium Trading Service Active Options* - Blue Line PRO Trading Service *Active Options = Unexpired and not exited via a -50% hard stop.
