still has not broken out yet and I'm still not convinced it's ready to make that next move up above 2000 YET
Wednesday, August 22, 2012
Interesting that gold should test the upper extreme ceiling just as the dollar sell signal is coming off and where technicaly both the bond and dollar should bounce higher from here...
and in the same way the long bond worked off it's RSI sell signal and is beginning a new leg up so has the dollar worked off it's negative RSI divergent sell signal ( or is very close to it's minimum target) and is read for a new leg higher and with it lower stocks and gold prices... or so I'm thinking.
Monday, August 20, 2012
I suspect there is no support for gold until or unless /ES rolls over and test the lower channel line, which if that should occur look for a large spike higher on the gold chart as the NYFed comes back in to buy stocks...or so I'm thinking
Thursday, August 16, 2012
I've noticed (maybe because the volumes have been so light) that any time the invisible hand (NYFed??) comes into the market to support stocks someone within the organisation leaks it to someone who then ramps gold up in spike like moves higher. I've overlaid the active /es over the active gold contract on a 30 minute chart and you can see them step in any time there is a risk that the trend line breaks which then triggers near panic buying in gold. or so it seems....
Wednesday, August 15, 2012
Thursday, August 9, 2012
The corn chart reveals not only a break out but a flag (half mast) which suggests a massive and powerful move higher while at the same time the dollar keeps inching higher and higher. US is the world's largest exporter of corn to all those weakening currencies. Not to mention gasoline prices getting ready to break out. Maybe this is why gold rather then pressing the top of the range (1900ish) is pressing the bottom. They can't print right now. Speaking of gold, in a completely and totally corrupted system you might expect the fed, banksters, friends and family and even enemies with assist of agents would be front running the next wave of printing (whether Euro banking license, fed QE-3 or China stimulus. Instead nothing, not even the faintest heart beat from gold. I'm looking for a break down in gold not break out, and along with it, sub 1100 /es.... at least at first.
Wednesday, August 8, 2012
Just how much stealth printing Bernank did to get the /ES above 1400. I would expect a break out and follow through with prices at the pumps at all time highs come election day. This assumes they don't reduce the corn alcohol blend. If they do that then what ? $5.00 gas ?