Market Outlook

November 5, 2014

Publisher, Jim Curry

Since the prior report from Sunday, Gold has seen a sideways-to-up consolidation off the recent
lows, with the metal pushing up to a Tuesday high of 1175.00 before backing off the same to
end the session. For the near-term action, the next decent swing low is expected to come from
the 10-day cycle, with the bigger 154-day wave still looking for the next larger-degree bottom.
For the very short-term, any reversal back above the 1179.00 figure on Gold, if seen at any point
in the coming days, would be a decent indication that the 10-day cycle has bottomed and with
that is headed higher into what is looking to be the November 10-11 timeframe. In terms of

November 5, 2014

Gold Wave Trader

price, a normal upward phase of this 10-day wave will usually see the 9-day moving average
acting as the minimum magnet, but with the obvious potential for additional follow-through
above the same.
Stepping back slightly, following a peak around November 10-11, if seen, we would most likely
see another 10-day cycle downward phase playing out into the November 17th timeframe. If a
lower low is still out there for the larger 34-day cycle (chart, above), then it would be this date
which would seem primed to trough the same. Once the next low for this 34-day component is
in place, then we should be looking at a minimum rally of 4-5% or more off the bottom.
Stepping back further, noted in the prior outlook, taking out the 1183.30 swing bottom has
indicated the larger 154-day cycles downward phase to still be in force at the present time.
With that, the next larger-degree low is still favored to come from this component, though from
what price level is still unclear at the present time. Until a lower level actually materializes, any

November 5, 2014

Gold Wave Trader

reversal back above the 1256.00 figure would be the indication that this cycle has bottomed,
though this number should drop sharply as we move along.
With the above said and noted, short-term we are due for a rally back to the 9-day moving
average or better, ideally coming as the result of the 10-day cycle. If that rally fails below the
recent swing top, then a drop back to or below the lows could be see again into later in the
month of November, a move which looks primed to bottom the larger 34-day cycle as well as
the even-larger 154-day component.
Stepping back again, the dominant weekly cycle (chart, above) is projected higher into the
month of January of next year, with that upward phase expected to come from that of the
154-day time cycle which has yet to bottom out. Once this cycle does trough, then a
bare-minimum rally should take the metal 12.7% or more off the bottom, though with the
average rallies with this cycle being closer to the 15-20% range.

November 5, 2014

Gold Wave Trader

For the bigger picture, however, with the recent downward phase taking out the December,
2013 bottom, the probabilities are above-average that the next upward phase of the 154-day
wave will end up as a countertrend affair, holding at or well below the March, 2014 peak of
1395.30 for Gold. If correct, then lower lows for the bigger swing should be seen on the next
downward phase into what is currently looking to be April or May of next year, a decline which
should also be somewhere in the range of 15-20% off the top before bottoming.
Next report sent Thursday evening, between 9-10 pm EST
Current open positions: 65% Long GLD @121.51 (avg price)

Jim Curry
The Gold Wave Trader & Forecast
Email: mailto:goldwavetrader@gmail.com
Secondary Email: jcurry@cycle-wave.com

November 5, 2014

Gold Wave Trader

Website: goldwavetrader.com
On Twitter: @goldwavetrader
Disclaimer - The financial markets are risky. Investing is risky. Past performance does not guarantee future performance. The foregoing has been prepared solely
for informational purposes and is not a solicitation, or an offer to buy or sell any security. Opinions are based on historical research and data believed reliable, but
there is no guarantee that future results will be profitable. The methods used to form opinions are highly probable and as you follow them for some time you can
gain confidence in them. The market can and will do the unexpected, use the sell stops provided to assist in risk avoidance. Not responsible for errors or omissions.
Copyright 2014, Jim Curry.

ALL RIGHTS RESERVED. No part of this report may be reproduced or transmitted in any form whatsoever, electronic, or
mechanical, including photocopying, recording, or by any informational storage or retrieval system without express written, dated
and signed permission from Jim Curry.

November 5, 2014

Gold Wave Trader