Friday, May 15, 2009
Bottom line of the red down flag keeps getting lower
as lower lows are made. When it reaches 75% point, the
down flag is history (my rules for now)
Bonds suddenly drop
Euro, Oil, Dow, all moving down strongly
Dollar moved up to .8281, but has dropped from there.
Currently at .82715
And gold still creeps back up after a shallow dip retracement
of the rise off of 93020 and is moving higher slowly.
A real gambler's market. So far, a 50% retracement of the
whole move down from the day's high at 93480.
The bids near 930 aren't showing, but could reappear if gold
Gold trying to find support at the retracement point, but
everything else says gold is going down.
Dollar up to .8266
Dow going negative
Euro also down sort of hard
Markets turning around fast approaching the end of the week
Still, gold fools us once again (or tries to fake us out?) and rises
off the 75% point (930) of course, on light volume.
Gold will either consolidate here to move higher, or pull back
on profit taking and suppression by 'the powers'
Euro moves higher
Oil moving up
Dow up 80 and climbing
Bonds fall off their ledge and fall much lower
Dollar slips further to .8243
Now gold is starting to fall after making a slightly higher high,
which is where the last suckers always move in AFTER the move
has been made.
ONLY BUY IN ON DIPS if you want to make money
The close up view
Gold is backing off from every possible point of resistance.
Previous highs, retracement points, congestion areas.
Anything that might be a stopping point.
Traders cause that as the take their profits at all points
where gold might stall. Then they wait and rebuy after
it pulls back. The smart ones DON'T short the market, but
only buy on dips and make some very good money and PREVENT
getting wiped out IF and WHEN gold explodes, which it will do soon.
Dollar slips further to .8248
Bonds finally pull out of their nose dive and stabilize a bit
Dow up about 30 and thrashing there
Euro rises some more
Yens stops falling
Oil breaks through 58 by 15 cents
Maybe gold will go higher today, but I suspect some kind
of attack soon, what with the dollar falling, and so weak
A rather weak rally on light volume. Gold volumes have
simply gone light in relation to past months. Not enough
bad news of major consequence to stimulate people into
the PANIC they will surely exhibit shortly when their
world falls apart.
Dow barely positive, up 10
Euro starting to rise
Yen still falling
Oil up and down on its lows
Bonds moving down fast
Dollar slipping to .8268, currently at .8273
Euro turns up a bit after a steep sell off
Yen moving lower
Oil backs off to 57.40, now rising a bit
Equities moving up but still off from yesterday's close
Dow off about 12
Bonds moving down