Gold Bugs Index possibly at Wave 3 up at all degrees of trend.

Due to our position in the Kondratjew Cycle, I believe that the start of a multi year bull market for the gold miners is imminent.
We are close to the final leg down in the real interest rate which will bottom out at the end of our current K-Cycle which will coincide with a secular low in the Dow/Gold Ratio and a corresponding high with the gold price.