It looks like a GLD bottom

By the way, the actual 2016 bottom was on a date given by Bo Polny!  After he nailed the 2015 bottom.  Unlike most people who get some stuff from him, I actually listen to ALL his interviews and videos, and he's pretty good.  He was wrong from about the election for a few months, like not even close, but he really nailed a lot of tops and bottoms in several different markets.  A lot of people have been wrong on the markets since Trump won.


Anyway, look at these weekly charts, with the original and alternate+compression systems from mannarino.  There's a solid higher high, that took out many previous highs, and a higher low from the 2015 low. 


It looks like on both Evo and Compression that this is bottoming, not daily bottoms, but more powerful weekly.


I might be cheerleading a bit here, so I really don't recommend buying at this time.  This is just a watch for me.  If I did buy, I'd be expecting a pretty long sustained move, so I might go far into the future and far out of the money to keep it cheep.  That way if it takes longer I'll still make money, or if it fails completely, at least they were cheap options.

Also note, that is an extreme on the UO, a 2 year low at least.  Note that this is an oscillator, meaning it does actually have to come back up at some point. 


The only knock I have is that Armstrong still says this is going lower.  He's been fighting the rally all year though.  I believe he will be wrong on this, mostly because he staunchly advocates that there is no long term suppression scheme, nor are there supply shortages. 


One more knock, is that if you go from the all time high and draw a trend line, the recent high was a 3rd touch on that, and it hasn't been broken. 


Gold is prevalent on the new economist cover.