Sunday, July 19, 2009

RETRACEMENT POSSIBILITIES



DOLLAR FALLS JUST SHY OF THE PREVIOUS LOW AT .7929


GOLD APPROACHES THE TOP AT 94230, NEXT TWO TOPS ARE 947 AND 949


GOLD MAY PULL BACK TO THE 1ST 75% RETRACE POINT, OR LOWER TO THE TOP YELLOW DOWNTREND LINE WHERE SUPPORT SHOULD EXIST


GOLD MAY RISE TO THE NEXT 75% RETRACE POINT AT 95120


GOLD ALSO HITS THE 75% RETRACE POINT AND MAY PULL BACK


GOLD STOPS AT THE PREVIOUS TOP AT 9398, NEXT TOP AT 9423


DAILY CHART OF THE US 30 YEAR T BOND


This market is headed for a total collapse which will drive
interest rates to the moon and destroy any and all economies by
driving the cost of borrowed money (which isn't being lent by
the banks that were just given BILLIONS of our tax money to lend, instead
using it to trade and pad their balance sheets) to levels that
no one will be willing to accept, thus preventing capital improvements
or borrowing for business ventures.

6 HOUR CHART OF THE EURO AS OF SUNDAY EVENING 7/19/09


The Euro is in a long down trend channel/flag which
should resolve up. I can't draw trendlines on these charts

60 MINUTE CHART OF THE DOLLAR AS OF SUNDAY EVENING 7/19/09


GOLD IS PRESSING AGAINST THE TOP YELLOW DOWNTREND LINE AND MAY MOVE HIGHER AS THE DOLLAR SLIPS AND THE EURO RISES


SEPT '09 IS NOW THE FRONT MONTH FOR CRUDE OIL

ALL CURRENCIES I QUOTE ARE SEPTEMBER '09 FRONT MONTHS
ONLY GOLD IS AUGUST '09
AND WILL CEASE TO BE THE FRONT MONTY ON THE 31ST OF JULY
ON FIRST NOTICE DAY

WE WILL MOVE TO OCTOBER '09 GOLD
IT IS NOT ADVISABLE TO BE TRADING AUGUST GOLD
BETWEEN NOW AND AUGUST 1ST WHEN THE OCTOBER CONTRACT
BECOMES THE FRONT MONTH TO PREVENT BECOMING TRAPPED
IN AN ADVERSE POSITION AND BEING FORCED TO GET OUT OF YOUR
POSITION AT A LOSS ON FIRST NOTICE DAY

GOLD BARELY MOVING IN SUNDAY EVENING TRADING




NEW TRENDLINES DRAWN