Keep a close eye on [ABX]

At the backlink I was wondering if Barrick had bottomed already and was looking for a near term bounce that could turn into inverted H+S which, if it happened would, IMO, mean the end of the 2011 bear in M+M.  Since that post, ABX has nudged up as expected and is making its way toward its next test which will be that top rail.

Folks, the very best thing that could happen would be a break of that top rail in E of 4 and then a break back down below both channels into blue 5 as shown.  This remains my primary model while at the same time I am diligently watching for signs that the bear is over.

First off, on the blue 4 model, the reason this would be so fantastic is that 4th waves are about the only real wave structure that you can count on and I have never seen it to fail.  Proper HTs ARE penultimate, always.  So if this turns into an HT then all we have to do is wait 5 waves down to where ABX=~$5 and the odds will be astronomical that it will be the end of the 2011 bear.  That would fit Avi's GLD and HUI models to a TEE and it would fit the ABX model that I have been posting about here for months.  Folks, that would be the time to take out a 2nd on the home and then go buy a basket of miners and get the share certificate in hand.  Literally, the opportunity of a lifetime could be staring us in the face.  Everything is ripe for it with the main thing being that confidence is rapidly failing in the disposable fed.  Once confidence is gone people will find ways to get safe and there is nothing safer than a pile of yellow pet rocks.