THE BIG PICTURE

A LARGER VIEW

THIS WEEK IN GOLD TRADING

2:15PM PST AFTERNOON CLOSE FOR THE WEEKEND

GOLD STILL RISING GRADUALLY INTO THE 2:15PM PDST CLOSE FOR WEEKEND

Euro and Yen rising to their day's highs

Dow closes up about 165

Oil on its highs in the 58s

Bonds going sideways after coming off their highs

for the day

Dollar keeps slipping, currently at .8250 the low of

the day, if you don't count the weird drop to .8000 even

which I think is a bad input, but is still on all my futuresource

delayed charts. I can't find that low on other data sources

THE LARGER VIEW

GOLD PULLS BACK AFTER A 75% RETRACE UP

GOLD RISES ON LOW VOLUME TO HIT THE 75% RETRACE POINT, NOW WHAT?

Dow up 140

Bonds moving down

Euro 'flaging' and could move higher

Yen doing the same

Oil hits high of 58.70

Dollar at .8276 just slip sliding away.

11:12AM PDST

GOLD STOPS SHORT OF THE 75% POINT AT 91710

GOLD RISES INTO THE CRIMEX CLOSE ON LIGHT VOLUME

GOLD JUMPS HIGHER ON ABOUT 700 CONTRACTS AND STALLS

Euro, Yen rising to new highs

Oil moving up to the 58s

Bonds turn down

Dow up 111 and plateauing somewhat

DOLLAR CHART SHOWS DROP TO .8000 (3 cents!) AND A SNAP BACK UP TO .8310, EITHER A BAD TICK, OR A REAL MOVE, NO NEWS YET

DOLLAR FALLS FURTHER TO .8316, DOW, OIL RISE, EURO, YEN ALSO TRYING TO MOVE UP, BONDS MOVING HIGHER

Gold starts moving up

GOLD SLIPPING LOWER ON LIGHT VOLUME

GOLD DROPS LOWER

Dow up 100 points, Oil rising some
Euro, Yen rising some.
Dollar forming a ledge at its lows to fall from

NEW BLUE UPTREND LINE DRAWN

GOLD FALLS OUT OF THE BLUE UPTREND CHANNEL, GOLD IS STILL WEAK

DOLLAR FALLS TO .8330 AGAIN, EURO, YEN RISE AGAIN, DOW UP 60

GOLD HITS THE 1ST OF THE 75% RETRACE POINTS

GOLD SEEMS WEAK TO ME

Bonds move higher again

Dow moving down again after a pause

Euro down

Yen up

Oil slipping

Dollar slips a little lower, currently at .83505

GOLD EITHER CONSOLIDATES HERE AND MOVES HIGHER, OR PULLS BACK AS SHOWN..OR FURTHER

GOLD MOVES UP ITS 2ND LEG UP ON GOOD VOLUME TO NEAR THE 75% RETRACE POINT OF THE MORNING'S DOWN MOVE

Gold is also just above the top blue line of the

short term uptrend channel, should pull back

before moving higher...IF...it moves higher

GOLD 'ROLLING OVER' TO MOVE LOWER?

Dollar rises off the low of .83285 up to .8361
currently at .83555
Euro moving down some
Dow moving down, now up only 44
Bonds rising in stair steps
Oil in the 57s

GOLD CREEPING BACK UP ON LIGHT/MODERATE VOLUME, MAY FALL MORE

POSSIBLE RETRACEMENT POINTS

GOLD FALLS HARD ON OVER 3000 CONTRACTS IN ONE MINUTE BELOW THE PURPLE UPTREND CHANNEL, NEXT STOP COULD BE DOWN TO 890

THIS RALLY MAY NOT TAKE US UP FURTHER, I EXPECT A PULL BACK TO THE LOW AND MAYBE LOWER

Gold pulls back fast

Volume on this rally was okay, but not the type

that would indicate this was anything other than

the usual bounce off the bottom of a big drop,

although it was consistently light/moderate and

moved up without any pull backs and got quite

high (more than 75% of the last down leg)

GOLD DOES FALL LOWER ON STRONG VOLUME TO YESTERDAY'S CLOSE PRICE, A FAVORITE TRICK OF GOLD

GOLD LOOKING VERY WEAK ON LIGHT VOLUME

Bid and Ask volumes are getting larger in pulses

in both directions, long and short. Some traders

may be thinking this is a bottom.

I don't think so.

WHERE GOLD COULD FALL TO INITIALLY (the 75% points)

GOLD SLIPS BACK 75% ON LIGHT VOLUME, COULD SUDDENLY FALL LOWER

GOLD FORMS A PATTERN THAT SAYS IT IS GOING TO NEW LOWS BY FALLING OFF THIS CONSOLIDATION AT THE LOWS

GOLD CONSOLIDATED THEN MOVED UP ON LIGHT VOLUME, THEN PULLED BACK A BIT, COULD SPIKE HIGHER QUICKLY IF NOT SUPPRESSED

GOLD FORMING A LEDGE TO FALL FROM

Gold attempts a rally on light/moderate volume,

but stalls quickly

Euro consolidating at its highs, could move higher

Could pull gold up.

Gold could just be consolidating here and move

back up. I just don't know what it will do, but

it will be a big move

DOLLAR FALLS TO .8330, EURO, YEN, BONDS SPIKE UP, GOLD FALLING

As I've told you many times, gold usually bounces
after a big drop, then retests the low, makes a little
lower low, then rallies well after that.


Gold bounce has some moderate/strong volume
but appears to be being suppressed successfully

GOLD GETS KNOCKED DOWN HARD, NOW LET'S SEE IF BUYERS FIGHT BACK

NEXT 75% POINT UP IS AT 92210 NEAR THE WHITE TOP LINE OF THE UPTREND CHANNEL

Dow was up about 100 points, but is falling, now
up only 68
Gold suddenly falling hard on fairly strong volume.

Gold moving up and down very fast and being

held down mightily by the boyz.