Wednesday, January 6, 2010
ANOTHER HIGH ON STRONG VOLUME BUT ONLY TO THE BLUE TREND LINE, NOW PULLING BACK, A TOPPING PATTERN
TYPICAL TOPPING PATTERN WHEN LATE COMERS
JUMP IN AT THE TOP ONLY TO SEE GOLD FALL BACK
ON PROFIT TAKING
STOCKS, EURO, OIL ALL PULLING BACK
STARTING TO LOOK LIKE GOLD WILL TAKE IT ALL BACK
STOCKS STILL RISING, EURO PULLING BACK AFTER
RISING GRUDGINGLY
THE LARGER PICTURE
LOTS OF 75% RETRACE POINTS BETWEEN HERE
AND THE ONE SHOWN COMPUTED OFF OF THE LOW
AND EACH HIGH ON THE LEFT OF THE CHART
GOLD MAKING HIGHER HIGHS NEAR THE BLUE TOP UPTREND CHANNEL LINE, MAY PULL BACK HERE
MODERATE VOLUME GOING NEGATIVE OFF THIS HIGH
GOLD STOPS AT THE THIN BLUE TOP UPTREND CHANNEL LINE, EURO NOT RISING, STOCKS ARE RISING SOME
GOOD VOLUME ON THE RALLY BUT ITS POOPING OUT
NOW. GOLD IS NOT MOVING DOWN YET, BUT MAY
GOLD RALLIES ON THE OPEN BUT STALLS AT THE 75% RETRACE POINT
EXPECT A GOOD PULL BACK HERE BEFORE ANY
BIG RALLY,
IF ANY IS TO COME
GOLD HEADING DOWN NOW?
DOLLAR HEADED LOWER
EURO HAS SAME PATTERN AS GOLD
YEN MOVING LOWER
BONDS INCHING HIGHER
STOCKS INCHING LOWER
GOLD RETRACES 75% OF THE MOVE DOWN FROM 1129.4
GOLD HAS MOVED ABOVE THE PURPLE DOWNTREND
CHANNEL AND STOPS AT THE THIN BLUE UPTREND
CHANNEL TOP LINE WHICH HAPPENS TO ALSO BE
THE 75% RETRACE POINT. GOLD MAY MOVE HIGHER
AS THIS IS THE TIME PERIOD WHEN GOLD MAKES
SOME OF ITS BOLDEST MOVES OVERNIGHT
Tuesday, January 5, 2010
15 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)
DOLLAR HAS FORMED A SHORT TERM INVERSE
HEAD AND SHOULDERS PATTERN THAT RESOLVES UP
A SHALLOW RETRACE AFTER A GOOD RUNUP, NOW A SLUGGISH RALLY
LIGHT VOLUME ON THIS CURRENT RALLY, BUT
GOLD COULD MOVE HIGHER GRADUALLY AS IT HAS
IN RECENT EVENING TRADING
GOLD RALLIES TO THE YELLOW TOP LINE OF THE UPTREND CHANNEL
GOLD BREAKS ABOVE THE TOP LINE OF THE MORE
DOMINANT WHITE DOWNTREND CHANNEL. MAY
MOVE HIGHER IF IT CAN GET SOME MOMENTUM AND
VOLUME TO BUILD ON
AFTER INITIALLY FALLING IN EARLY EVENING GOLD TRADING, GOLD HAS RETRACED 75% OF THAT DOWN LEG
GOLD IS NOW PULLING BACK BEFORE POSSIBLY
MOVING HIGHER THIS EVENING.
GOLD COULD MOVE HIGHER OVERNIGHT IF THE
GOLD BASHERS DON'T MOVE IN AGAIN LIKE LAST NIGHT
AROUND MIDNIGHT PST
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