Well, some folks think so, and they have!

The sectors that are unloved must be watched for a change in behavior, and the Gold Miners (GDX) are showing that selling has slowed and buying has sped up. The volume to price wave show this clearly. For some reason ETF volumes are excellent for volume price wave analysis.
 

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Investing Quote...
 

.."TIME is the most important factor in determining market movements and by studying the past records of the averages or individual stocks you will be able to prove for yourself that history does repeat and that by knowing the past you can tell the future. … There is a definite relation between TIME and PRICE. … Now, by a study of the TIME PERIODS and TIME CYCLES you will learn why tops and bottoms are found at certain times and why Resistance Levels are so strong at certain times and bottoms and tops hold around them. … The most money is made when fast moves and extreme fluctuations occur at the end of major cycles." ..

William D Gann


.."It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong"..

George Soros