Loading ...Supporting my post the other day on a likely Fibonacci time retrace on the GSR — see below:
GSR
Posted by Captain Hook @ 14:59 on November 13, 2019 -edit-
If the GSR (switch to weekly) is defining the bullish / bearish impulses in the move, where it declined 15 weeks starting the beginning of July up until mid October (15 weeks), then we should see weakness for the next 4 weeks minimum (6 weeks total – 38% time retrace), bringing us to the end of tax loss selling in mid-December.
The GSR should not exceed 90 on a weekly closing basis if this assessment is correct.
My two cents.
We also have the SPX/CRB Ratio that just broke out of a bull flag (switch to weekly) with a Fibonacci resonance projection to 19ish, putting the SPX cash at ~ 3200 and CRB at ~167 at about the same time (maybe longer – end of December?).
Food for thought if the Comex speculators start dumping their long positions, which they always do.
Cheers all.