Wednesday, July 15, 2009

2:15PM PDST GOLD AFTERNOON CLOSE


GOLD SLIPPING A LITTLE NEARING THE AFTERNOON CLOSE AT 2:15PM PDST


DOLLAR HITS NEW LOW AT .7942, DOW STARTING TO PULL BACK FROM ITS HIGHS 30 MINS BEFORE THE CLOSE


Gold continues up and down in an inclining uptrend channel
Other markets have been supportive of gold all day, but the
manipulators have taken every opportunity to keep gold from
rising in a straight line, which it would without their interference

GOLD UP AND DOWN ON A INCLINE ALL DAY, GREAT TRADING FROM THE LONG SIDE ONLY


GOLD KEEPS WALKING UP THE YELLOW UPTREND CHANNEL


Dow up 250 with an hour to go. It could sell off to fill the gap up opening
Dollar remains near its lows
Euro still up well
Oil still up
Bonds totally crapped out today, a big problem for the manipulators
Yen beaten down today. the Japanese love that for their exports

GOLD PRICE IS ABOVE ALL THE MAs BUT THE 100DAY, AND READY TO MOVE PAST THAT TOO.


THREE UPTREND CHANNELS COULD MEAN GOLD IS GOING HIGHER, ESPECIALLY WITH THE DOLLAR TANKING


GOLD TRADING WILDLY IN AFTERNOON TRADING


Dollar down on its lows all day
Euro makes new highs
Dow up 225
Oil up to the 61s
Bonds down hard today making new lows
Looks like massive pressure on gold, otherwise
it would have spiked much higher and quicker,
but the shorts are sitting on it as hard as possible

GOLD BEING HELD DOWN, MAY SELL OFF INTO THE CLOSE




GOLD READY TO RALLY


ALL MARKETS ARE SET UP FOR GOLD TO SPIKE HIGHER, WILL IT?


GOLD COULD SPIKE HIGHER




GOLD IS BEING CONTAINED BY THE TOP LINE OF THE DOWN FLAG SO FAR


DOLLAR FALLING AGAIN, BONDS TOO, DOW UP 165 , EURO RISING


DOLLAR STARTING TO RISE, CURRENTLY AT .7965

DOLLAR DROPS TO A NEW LOW AT .79475


GOLD GETTING READY TO FALL?


Bonds have dropped to make a new intermediate low and are now moving back up
Yen is dropping again
Dow is up about 150
Euro is topping but not falling hard
Oil is flagging and could go higher

THERE IS NOTHING SAFE TO TRADE HERE, SO JUST WAIT FOR A BIG SELL OFF TO BUY IN



DOW UP 130, EURO BACK UP TO ITS HIGHS, GOLD RALLYING, DOLLAR MOVES UP TO .7960


SURE LOOKS LIKE A HEAD AND SHOULDERS PATTERN TO ME

BONDS CONTINUE TO FALL
DOLLAR NEAR ITS LOW OF .7949

EURO TOPPING, BONDS MOVE LOWER, DOLLAR ON ITS LOWS

Gold could pull back now



GOLD MAKES A NEW HIGH ON GOOD VOLUME MOVING ABOVE THE BLACK DOWN TREND LINE THEN PULLS BACK

Euro makes new highs
Yen moves back up
Oil moving higher
Bonds stop falling
Dollar new low at .7954

DOLLAR SLIPPING LOWER

GOLD MOVES UP A BIT IN VERY ERRATIC TRADING

Yen still falling
Bonds falling
Euro staying up near its highs

BONDS FALLING STEEPLY, EURO MAKING NEW HIGHS

Yen falls
Dow moves higher then pulls back a bit
Gold starting to fall
Dollar slips to .7956 on delayed prices
could be lower or show a sudden PPT goose

CPI REPORT AND TIC REPORTS SOON

GOLD SPIKES HIGHER ON THE OPEN, BUT PULLS BACK IMMEDIATELY, COULD CONSOLIDATE HERE AND GO HIGHER

Euro is on its highs
Dollar is slipping
Bonds falling
2500 contracts up on the open
with more than 1000 coming back down
gold starting to slip lower
Oil slipping

DOLLAR FALLS FURTHER TO .7959

THINGS ARE READY TO GET WILD!
DON'T DO ANYTHING CRAZY...

GOLD IS SURPRISINGLY CALM AFTER SUCH A LARGE SPIKE, BUT WAIT...

Dollar slips to .7971, Euro and Yen rising, Bonds falling


DOLLAR HAS NEW LOW AT .7966

DOLLAR IS CURRENTLY AT .7974
EXPECT THE PPT TO GOOSE IT HIGHER
WITH EVERYTHING THEY HAVE.

GOLD SHOULD HAVE A RADICAL MOVE UP OR DOWN IN JUST A FEW MINUTES

Be prepared for very quick and violent moves in both directions
REMEMBER THAT THE AUGUST GOLD CONTRACT EXPIRES ON
THE 31ST OF THIS MONTH.
DON'T GET TRAPPED IN THIS MONTH ON SOME RADICAL MOVE.

GOLD HAS BROKEN OUT OF THE WHITE INTERMEDIATE DOWN TREND CHANNEL

NEW TREND LINES WILL BE DRAWN TO INCLUDE THE NEW HIGH

HARD TO PREDICT THE NEXT DIRECTION FOR GOLD

You can be sure the shorts will want to hit gold hard before, or on, the Crimex open
The spike high is an 'outlier' in relation to the down flag created right after it
was made and distorts the computations of the fibs using just the down flag
high and low. I show the retrace points using the ultimate high at 9377 for now.
I will wait for a big pull back before buying in to this market.

USING THE HIGH AT 96670 TO COMPUTE THE RETRACE FIB, 95120 IS THE NEXT HIGHER 75% RETRACE POINT


GOLD SPIKES TO THE 75% RETRACE POINT AT 938 IN OVERNIGHT TRADING AS DOLLAR SINKS TO .7974


Using the previous high at 949 to compute the fibs, the 75% retrace fib
is at 938 as pointed out yesterday.

Using the high at 9921 to compute the fibs, the next major 75% retrace fib
is at 97030