11 thoughts on “CHART OF THE DAY

  1. jack

    hi Gary

    gold will be attacked as job report comes out on Friday. probably the final bloodbath phase for miners.

    1. Anthonyo

      They dont need job report to do it. They can do it anytime they want to. Why Friday? Do you know what is in Friday’s job report? Only CNBC and its sheep followers care about such days and fake reports.

      1. bob davis

        Who’s they, buyers and sellers? Gold/oil commodities fall and rally on news. If the job report is weaker than expected gold will rise on the news and vice versa. Markets are interrelated, hence the rise of gold over the last couple of weeks tying in with the crash in chinese and world markets. The reports might be fake but they still influence price movements.

  2. Anthonyo

    1200-1250 gold still in the cards in Sept?

    Seems like when stocks dive, they take the miners down with them even if gold was up today. Miners are stocks first.

    And oi? What happened today lost 8%. Was the surge to $50 a flash in the pan only?

    1. gary Post author

      I do think gold has another leg up still. But I’m still waiting for confirmation the first daily cycle has bottomed. We probably need the dollar to start accelerating lower first.

  3. James Flatt

    There’s no way this is a daily cycle low in gold. Daily cycles in all asset classes usually break the 50 DMA and crash the Bollinger Bands. I don’t have a chart but the daily cycle trendline comes in at about 1100-1110 and that needs to break and a back test of the down trendline takes gold to a retest of the 1172 lows.

  4. Dan

    Today will be an interesting close. Let’s see if the PPT gangsters can pull off yet another stick save. My money’s on them failing.

Comments are closed.