It is remarkable the disrespect the Elliott Wave Theorist’s Steven Hochberg shows to the markets (and by extension his clients).
Gold has been in bull markets for many months (4 + years) and they (EWT and Hochberg) have been bearish for a good % of gold’s price advance. Accompanied by a high degree of confidence.
Sometimes after gold rises above Hochber’s previously identified ‘The High’ or (the 5th of the 5th (etc), destroying his analysis, he will then say ‘we wait patiently’, which, I must compliment him, is damn near hilarious.
For a 3X per week ‘update’ (update for this service is like getting an update of changes from the movement of the Himalayas, and in breathless endless ‘analysis’ every other day (except Friday - Monday, so back to back days).
It’s interesting too the degree of amateurish thought that is displayed, after a market hits new multi year highs, to say ‘its time for it to decline’. Now this might be something an annoyed parent says to a child who stayed up past bedtime: ‘it’s time to go to bed’. But an analyst defying a multi year trend, with no (zero) topping process exhibited, now that is amazing. Now, I get he is frustrated. Of course, he is terrible at his job, so naturally he is frustrated. But treating the market as a child who stays up past its bedtime is not likely to make Hochberg’s analysis better.