Friday, January 22, 2010

STOCKS DOWN 205 POINTS, GOLD RISING


STOCKS DOWN 135 POINTS


STOCKS DOWN 100 POINTS, GOLD HAS A SMALL RALLY WITHIN THE DOWNTREND CHANNEL


GOLD MOVES LOWER INTO THE CRIMEX CLOSE


LOOKS LIKE GOLD MIGHT CONTINUE LOWER IN
AFTERNOON TRADING

GOLD MOVES A LITTLE LOWER


5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


DOLLAR MOVES LOWER

GOLD MOVES DOWN TO A LOWER 75% RETRACE POINT, MAY MOVE LOWER INTO THE CRIMEX CLOSE WITH A RALLY ON THE CLOSE


VOLUME IS GROWING LIGHT AS GOLD PULLS BACK BEFORE POSSIBLY BREAKING OUT HIGHER BEFORE THE CRIMEX CLOSE


GOLD MAY BREAK UP AND OUT OF THE RED DOWN FLAG BUT IT'S GETTING LATE IN THE SESSION


OFTEN, THIS LATE IN THE CRIMEX SESSION GOLD
DOESN'T MAKE BIG MOVES AFTER ALL THE ACTIVITY
WE'VE ALREADY HAD. BUT ANYTHING IS POSSIBLE
JUST DON'T BUY THE TOP AND HAVE IT SELL OFF
ON THE CLOSE ON YOU

5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


GREAT RALLY SO FAR, BUT A PULL BACK IS DUE



GOLD HAS MOVED ABOVE THE WHITE DOWNTREND
CHANNEL

GOLD RALLIES WELL TO THE TOP 75% RETRACE POINT


GOLD STOPS AT THE BLUE DOWNTREND LINE AT THE 75% RETRACE POINT


5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)



STEADY RALLY ON GOOD VOLUME, NOW A PULL BACK THEN HIGHER


THE SELLING PRESSURE WON'T LET UP


PRETTY SOON THE SHORTS WILL MOVE IN TO COVER
THERE SHORT POSITIONS AND TAKE THE PROFIT.
GOLD WILL MOVE UP WHEN THEY DO

5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


THE BUYERS ARE REALLY HANGING IN HERE!


BUT THE BULLION BANKS ARE OVER WHELMING THEM
WITH SELL ORDERS

BIG BATTLE ON THE LOW, UP OR DOWN?