Wednesday, October 7, 2009

GOLD RUNS UP TO JUST SHORT OF THE HIGH AND PULLS BACK QUICKLY LEAVING THE H&S PATTERN INTACT BUT LOOKING LESS LIKELY TO HAVE EFFECT

EVENING GOLD MOVES UP TO THE 75% POINT ON THE OPEN


2:15 PM PDST AFTERNOON GOLD CLOSE

HEAD AND SHOULDERS PATTERN STILL POSSIBLE

GOLD MOVES BACK UP JUST BEFORE THE CLOSE

15 MINUTE DECEMBER DOLLAR CHART (delayed prices) 10:16AM PDST


DOLLAR NOT SLIPPING OR FALLING SO FAR TODAY

GOLD MOVES LOWER APPROACHING THE CLOSE


BONDS, YEN MOVING UP
STOCKS, OIL DOWN
EURO MOVING UP

VERY TRICKY MARKET TODAY, ERROR ON THE CAUTIOUS SIDE OF TRADING UNTIL GOLD CHOOSES A MAJOR TREND


THE INDICATOR MARKETS ARE GIVING CONFUSING SIGNALS AND GOLD
IS MOVING IN CONTRARY DIRECTIONS TO THEM
GOLD MIGHT RALLY STRONGLY INTO THE CLOSE OR JUST AFTER
IF IT DOESN'T RALLY, THE HEAD AND SHOULDERS PATTERN WILL CONTINUE
DEVELOPING ITS RIGHT SHOULDER WHICH WOULD RESOLVE LOWER

THE TRENDLINE AND THE RETRACEMENT POINT SAY GOLD SHOULD MOVE UP FROM HERE, BUT I THINK IT'S GOING LOWER

POSSIBLE HEAD AND SHOULDERS FORMING WITH 1049.70 AS THE HEAD, RESOLVES DOWN AFTER THE RIGHT SHOULDER DEVELOPS MORE

GOLD MOVES UP FROM CONSOLIDATION RANGE SHOWING GOLD'S STRENGTH


DOLLAR STAYING UP FOR NOW ALTHOUGH NOT UP MUCH
STOCKS DOWN
EURO DOWN
OIL DOWN

15 MINUTE DECEMBER DOLLAR CHART (delayed prices) 8:14AM PDST


DOLLAR STAYING UP EVEN THOUGH GOLD IS MOVING UP FAIRLY STRONGLY

STRONG RALLY KEEPS GOING TO THE RETRACE POINT, MAY KEEP GOING

AND NOW ANOTHER PULLBACK THEN ANOTHER RALLY

GOLD GETS BEATEN BACK DOWN ON EVERY RALLY BECAUSE THE SHORTS CAN'T LET IT GO HIGHER...BUT IT WILL



THE INDICATOR MARKETS ARE NEGATIVE TO GOLD
THIS RALLY WILL PROBABLY SELL OFF ANY MINUTE NOW
AND GOLD COULD MOVE DOWN TO ANOTHER LOW

TYPICAL PULL BACK IN THIS TYPE OF MARKET, GOOD TRADING MARKET BUT ONLY GO LONG AND TAKE PROFITS QUICKLY WHILE YOU HAVE THEM

EACH RALLY GETS SOLD OFF QUICKLY


GOOD VOLUME ON THIS LAST UP LEG BUT STALLING AT THE 75% POINT

ABOUT 200 BUYERS WAITING AT 1040, BIG BATTLE HOLDING GOLD RIGHT HERE IN THIS RANGE


15 MINUTE DECEMBER DOLLAR CHART (delayed prices) 7:02AM PDST

ALL MARKETS VERY VOLATILE, HARD TO POST MEANINGFUL CHARTS

GOLD MOVES UP AS STOCKS AND EURO TURN UPBUT PULLS BACK FAST


15 MINUTE DECEMBER DOLLAR CHART (delayed prices) 6:17AM PDST

GOLD HOLD WELL DESPITE OTHER MARKETS GOING AGAINST IT


GOLD RETRACES TO THE 2ND 75% POINT AND IS PULLING BACK NOW
COULD DROP BELOW THE LOW AT 1040.50 OR BOUNCE OFF THAT AREA
AS THE INDICATOR MARKETS ARE STARTING TO TURN IN FAVOR OF GOLD
NOW.
BONDS CONTINUE HIGHER FAST
STOCKS BOTTOMING
OIL MOVING BACK UP
EURO TURNING UP
YEN STILL DOWN
DOLLAR A BIT HIGHER

15 MINUTE DECEMBER DOLLAR CHART (delayed prices) 6:03AM PDST

GOLD MOVING LOWER


DOLLAR RISING
BONDS RISING FAST
EVERYTHING ELSE FALLING
GOLD WILL MOVE LOWER

A PULLBACK THEN HIGHER

A RETEST OF THE LOW BEFORE MOVING HIGHER


GOLD IS NEAR THE TOP YELLOW UPTREND CHANNEL LINE AND IS TECHNICALLY OVERBOUGHT


GOLD MAY NEED TO PULL BACK A GOOD BIT TO REBALANCE THE FORCES
IN THE MARKET,BUT THE FALLING DOLLAR WILL CAUSE GOLD TO RESIST
PULLING BACK VERY MUCH

15 MINUTE DECEMBER DOLLAR CHART (delayed prices) 5:09AM PDST


DOLLAR RISING BEFORE THE CRIMEX OPEN
SHOULD MAKE GOLD DROP MORE ON THE OPEN

GOLD RETRACES 75% OF THE LAST UP LEG AHEAD OF THE CRIMEX OPEN


GOLD MAY DROP MORE ON THE OPEN THEN RALLY HARD BUT SELL THAT
RALLY OFF QUICKLY AS IT STALLS AT THE TOP

15 MINUTE DECEMBER DOLLAR CHART (delayed prices) 4:30AM PDST

NOW BACK UP ONE MORE TIME BEFORE THE CRIMEX OPEN

A LITTLE RALLY, THEN LOWER IT GOES AHEAD OF THE CRIMEX OPEN

GOLD APPEARS TO BE MOVING LOWER AHEAD OF THE CRIMEX OPEN

A QUICK RALLY UP TO THE 75% POINT ON LIGHT VOLUME



WE ARE GETTING CLOSER TO THE CRIMEX OPEN WHEN THE MANIPULATORS WILL BEGIN
TO PUSH GOLD LOWER BEFORE THE SESSION OPEN

HOURLY DOLLAR CHART

15 MINUTE DECEMBER DOLLAR CHART (delayed prices) 1:42AM PDST

GOLD PULLS BACK