16 thoughts on “CHART OF THE DAY

  1. gary Post author

    I’m looking for a bottom today or tomorrow, and this breakdown to turn into a bear trap.

  2. mike miller

    Dont currency moves once set in a directional move last alot longer than expected and really need central bank intervention to change course or is that not true?

  3. John

    I assume then that you would also say that the $USD will fall, which in turn would put a bid back on the golds? I would agree at this time.

    1. gary Post author

      That one is tough. Gold is stuck in an intermediate degree decline. It may or may not continue down even after the dollar tops.

    1. MLMT

      After a rally from 80 to 100 in matter of months… why would a move to 101 surprise people?

    1. gary Post author

      Hard to say at this point. I was expecting them to hold up better during gold’s ICL but instead they began to quickly breakdown.

  4. Jonathan

    Is the Fed determined to be the biggest idiot and hike when all the other major central banks are easing? Look, even if it doesn’t hike, the US is still relatively tight.

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  6. Jonathan

    In January Ellen Zentner of Morgan Stanley was very brave to predict no rate hike until 03/2016. I thought it was good. At the time, her title was “economist”. Today, she said on CNBC that the Fed “wants” to raise but is “unable to” this year. And I just realized that she was promoted to “chief economist” last month.

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