Friday, May 8, 2009
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
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.
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
GOLD DROPS LOWER
Dow up 100 points, Oil rising some
Euro, Yen rising some.
Dollar forming a ledge at its lows to fall from
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 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
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 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.
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
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.