Thursday, October 22, 2009
GOLD PUSHING HIGHER NEAR THE NEXT TWO RETRACE POINTS, COULD JUST KEEP GOING
EURO VERY STRONG
STOCKS UP TODAY AS DEVALUED DOLLARS FLOW INTO STOCKS
OIL TRADING AROUND A CURRENT MEAN PRICE OF 81 IN THE CURRENT TRADING RANGE
AFTER A BIG RUN UP
BONDS TRENDING DOWN...MARKET WILL CRASH SOMEDAY SOON
YEN DOWN OVERALL
KEEP YOUR EYES ON THE BIG PICTURE AS THESE DAY TO DAY MOVES ARE ONLY OPPORTUNITIES
TO TRADE SHORT TERM OR BUY MORE CASH GOLD FOR LONG TERM AS THE MARKET INEVITABLY
MOVES MUCH HIGHER
THERE SEEMS TO BE ABOUT A THREE DAY CYCLE FROM HIGH TO LOW AS GOLD GIVES AND TAKES BACK. USE IT TO YOUR ADVANTAGE
GOLD WILL PROBABLY NOT MOVE BELOW AROUND 950 FOR THE NEAR TERM, IF EVER AGAIN
GOLD MOVES HIGHER IN LATE AFTERNOON TRADING
GOLD BREAKS ABOVE THE SHORT TERM WHITE DOWNTREND CHANNEL
AND STOPS AT THE PURPLE TOP LINE OF THE NEXT LARGER DOWNTREND CHANNEL
AND PULLS BACK. COULD MOVE HIGHER WITH ONE HOUR LEFT IN THIS TRADING PERIOD.
GOLD RALLIES ON VERY GOOD VOLUME
ALL INDICATOR MARKETS MOVING HIGHER
DOLLAR TURNS UP A BIT ON MY DELAYED CHARTS
BUT MAY ACTUALLY BE FALLING RIGHT NOW
TRADING ACTION SHOULD START TO PICK UP IN THE NEXT HOUR
BONDS, YEN DOWN
EURO,OIL, STOCKS TURNING UP
DOLLAR TURNING DOWN
ALL FAVORABLE FOR HIGHER GOLD
GOLD STILL IN THE INTERMEDIATE BLUE UPTREND CHANNEL, THE OTHER DOWNTREND CHANNELS RESOLVE UP
GOLD IS STARTING TO RISE AHEAD OF THE CRIMEX OPEN
THE SHORT TERM WHITE DOWNTREND CHANNEL SHOULD RESOLVE UP
AS SHOULD THE PURPLE DOWN CHANNEL AND THE MAJOR WHITE DOWNTREND CHANNEL
DRAWN FROM THE MAJOR HIGH AT 1072 DOWNWARD THROUGH THE RECENT TOPS
VERY QUIET TRADING ALL NIGHT, ACTION SHOULD PICK UP IN THE HOUR BEFORE THE CRIMEX OPEN
AT THIS HOUR THE EURO, YEN, STOCKS, OIL ARE ALL MOVING DOWN
THE DOLLAR IS UP
NOT SUPPORTIVE OF HIGHER GOLD RIGHT NOW SO GOLD HAS FALLEN.
BUT THAT IS WHERE YOU BUY IN FOR THE NEW RALLY WHICH SHOULD OCCUR
IN THE NEXT HOUR OR SO.
