CONTINUOUS CHART OF LIGHT CRUDE OIL TO DATE

CONTINUOUS CHART OF THE DOW TO DATE

CONTINUOUS CHART OF THE YEN TO DATE

CONTINUOUS CHART OF THE EURO TO DATE

CONTINUOUS CHART OF TREASURY BONDS TO DATE

CONTINUOUS CHART OF THE DOLLAR TO DATE

THE MAJOR BLACK DOWN TREND CHANNEL THAT WILL RESOLVE UPWARDS

THE BIG PICTURE

THIS WEEK IN GOLD TRADING

2:15PM PDST AFTERNOON CLOSE FOR THE WEEKEND

Gold managed to hold on to its gains today. This is VERY significant.
Gold is in the "Armstrong" window where he predicts gold will take off for new highs.

The selling pressure from the guv'mint, via their sycophants at the Crimex
and the bullion banks, will not cease until they realize that their short positions
are going to bankrupt them as gold seeks the dollar price level it requires to reach a balance
with all the worthless paper dollars that has been injected into the money supply
that is a defacto case of the world's worst case of hyper inflation ever created.

GOLD CONTINUES TRADING IN A NEW WHITE DOWNFLAG SITTING ON TOP OF THE PREVIOUS YELLOW DOWN FLAG WHICH IS PROVIDING SUPPORT

GOLD HANGS ON INTO THE CLOSE, COULD RISE NOW

Bonds and Yen fall hard
Dow rising
Oil near its highs
Euro flagging after its up move
Dollar slipping lower

OIL AND EURO RISING, DOLLAR EDGING LOWER SLIGHTLY

GOLD SUPPORTED BY THE 10 DAY MA BUT FINDS RESISTANCE AT THE 100 DAY MA

GOLD WILL PROBABLY SELL OFF INTO THE CRIMEX CLOSE

GOLD TRADING UP AND DOWN 75% ALL DAY, BUT IT'S TIME FOR IT TO SELL OFF THE CLOSER WE GET TO THE CRIMEX CLOSE

GOLD STOPS ON THE TOP LINE OF THE WHITE DOWN FLAG

SELLER VOLUME BUILDING JUST ABOVE HERE

DOLLAR STARTS TO RISE, CURRENTLY AT .7965

BONDS, DOW, OIL ALL MOVING LOWER

GOLD ABOUT TO FALL?

GOLD MAKING LOWER HIGHS WITHIN THE DOWN FLAG AND RALLYING MORE WEAKLY EACH TIME

Euro steadily dropping
Bonds moving back up
Dow goes negative
Oil pulls back
Dollar slowly moving lower grudgingly

BONDS MAKING NEW LOWS, COLLAPSE OF BOND MARKET IN PROGRESS

GOLD MANAGES TO STAY ABOVE THE OLD YELLOW TOP DOWNTREND CHANNEL LINE FOR NOW

I expect gold to drop through current support as the day wears on as
traders see gold not rising further and decide to take their profits.
Gold is, however, consolidating here, and could break out higher.
I just think the shorts will do everything in their power to hold gold
at, or under, 940 for now.
They can't let gold close above 950, or gold will move much higher, and
they don't want that to happen.

SELLERS MOVE IN AS GOLD APPROACHES TODAY'S RALLY TOP

Oil appears to have topped for now

That could take support from gold

Yen rising, Euro dropping

Dow barely moving but just above even

EURO BREAKS UP AND OUT OF ITS DOWN FLAG, BOND STILL FALLING

Dollar not moving much
Yen down
Dow up 5

BONDS FALLING LOWER, OIL RISES FURTHER AFTER A PAUSE

Dow is even on the day afte a dip
Euro rising a bit within its down flag
Dollar inching a bit higher
Gold rises out of the current down flag

This may be a fake out rally

NEW DOWN FLAG LINES DRAWN

The longer this down flag builds, the more likely traders are to sell their
long positions to lock in their gains as their profit slips away

They can always buy back in at a lower price

GOLD MAY HIT THE 75% POINT THEN DROP

Buying volume is light here. I don't think gold can go higher today as
the shorts will probably pile on here and keep it under 940 today

The only thing pulling gold up is oil and the weak dollar.

But remember the power of the bullion banks to keep the pressure on

gold, especially after a good rise like this morning's rise. Traders should

be very happy with their quick profits from it and willing to stand aside

for now rather than press their luck hoping for a further rise.

OIL RISING SWIFTLY TO THE 63s

GOLD FINDING A BIT OF SUPPORT ON THE TOP YELLOW
DOWNTREND LINE OF THE DOWNTREND CHANNEL JUST EXCEEDED.
IT PROBABLY WON'T HOLD.

BONDS CONTINUE DROPPING AFTER A BRIEF RALLY
DOW MOVING DOWN
EURO IN A LITTLE DOWN FLAG AT THE TOP OF ITS RALLY
YEN FALLING
DOLLAR SLIPPING FROM THE TOP OF ITS MORNING RALLY
CURRENTLY AT .7957

GOLD WILL PROBABLY TAKE THIS WHOLE RALLY BACK RATHER THAN BREAK UP AND OUT OF THE LITTLE DOWN FLAG

RETRACEMENT POSSIBILITIES

GOLD FINALLY BREAKS UP AND OUT OF THE LONG YELLOW DOWN FLAG, NOW THE PULL BACK

I doubt the shorts will allow gold to rise above 940 today.
It appears they managed to cover a good deal of their short positions
on the big drop and get long. Much of this rally was short covering.