Again, JPY explode further, equities imploded more…simple as that!
GaryPost author
Gold has broken its down trend line. The daily cycle low should be finished.
If gold can launch higher and reach 1140ish in the next 2 days there is still a chance that Dec. was the final bear market low. If it takes it’s time getting to $1140 then this is probably just another bear market rally.
Alexandru Popovici
Gary, I guess it depends on what ECB does or does not do next week.
Also cycles count for USX depends on that fundamental thing:
– should ECB make the bold move, then USX will burst (driving gold to new lows into IC decline) thus leaving behind an extended daily cycle with a DCL to be established in the next days
– if not, then USX will plunge into IC decline, leaving a DCL on JAN11 –> gold will go well above 1145 in no time
Chris
Yes, Gary posted this when futures were still up. Japan boj said no more extra qe. Will ecb do the same?
victor
Is ECB on Thursday 8:30 am?
Alex, sold SLP , switched to NUGT, thank you for your quidance….
I’m short a bank in aus, and torn on what to do. We will open down big Monday, and with DAX down 4%, the banks will get smoked. Seems to me markets will test super Marios resolve, which means low into Thursday. Anyone see any reason for a bounce next week?
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Thanks Gary !!
was this posted after futures tanked -30?
I posted this last night after the market closed.
SPX is eager to test 1,800 ?
Again, JPY explode further, equities imploded more…simple as that!
Gold has broken its down trend line. The daily cycle low should be finished.
If gold can launch higher and reach 1140ish in the next 2 days there is still a chance that Dec. was the final bear market low. If it takes it’s time getting to $1140 then this is probably just another bear market rally.
Gary, I guess it depends on what ECB does or does not do next week.
Also cycles count for USX depends on that fundamental thing:
– should ECB make the bold move, then USX will burst (driving gold to new lows into IC decline) thus leaving behind an extended daily cycle with a DCL to be established in the next days
– if not, then USX will plunge into IC decline, leaving a DCL on JAN11 –> gold will go well above 1145 in no time
Yes, Gary posted this when futures were still up. Japan boj said no more extra qe. Will ecb do the same?
Is ECB on Thursday 8:30 am?
Alex, sold SLP , switched to NUGT, thank you for your quidance….
Do we take out the S&P Aug lows today ?
Guess that’s a yes !
I hope so, haha
I’m short a bank in aus, and torn on what to do. We will open down big Monday, and with DAX down 4%, the banks will get smoked. Seems to me markets will test super Marios resolve, which means low into Thursday. Anyone see any reason for a bounce next week?