by Tekoa Da Silva, Bull Market Thinking:
I had the chance to reconnect with technical gold trader Gary Savage, publisher of the Smart Money Tracker daily gold market commentary and trading service, which has outperformed most of the world’s hedge funds in 2011 and 2012.
It was a powerful conversation as Gary indicated that precious metals and mining shares have finally confirmed a “1-2-3 reversal” pattern, suggesting a violent regression to the mean is now underway in gold—to be further angered as capital flees a collapsing bond market.
Speaking to the occurrence and meaning of a confirmed “1-2-3 reversal“ in the metals and miners, Gary indicated that, “A 1-2-3 reversal (some people call it an A-B-C reversal) is just a change from a pattern of lower lows and lower highs, to a pattern of higher highs and higher lows…silver, platinum, palladium and the miners have all completed that 1-2-3 reversal within the last week.
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