I don't disagree at all
As my thesis all along has been for gold heading to 1000-1100 area based on numerous macro level arguments. Time frame I do not care to speculate.
On Nugt board, I posted 5 year DXY (post# 10860) which shows a significant development of an symmetrical triangle breakout.
Aside from the bigger picture, I do expect there will be some secular rotations this month from Dow to Gold, not on a large scale but enough to warrant a bounce play that could stretch out a few weeks.
The Dow/Gold ratio has already indicated this on 23Sept with a break off the upper bollie band, macd/trix cross unders and several days of confirmation. Today was the hammer which should start taking the ratio to the lower bollie band.
For Nugt/Dust, after today's close, Nugt is sitting on a bullish engulfing inverted hammer, while Dust is sitting on a bearish engulfing hanging man. Macd/Trix are setting up for a cross over.
If Nugt does bounce, I will be looking at 2 key areas to exit Nugt and move back into Dust. One is the 20SMA and the other is $32 which is the most recent SR line.