GOLD in WELL ESTABLISHED Up Channel Buy Dips
Updated
GOLD in WELL ESTABLISHED Up Channel Buy Dips
Trade active
Looks like Friday up Day as dollar corrects to prop mktTrade active
Right on Track for 1240s LOWER TEST ? Let's start with the S&P 500s daily the S&P by the most classic group of technical measures (ours being Bollinger Bands, relative strength and stochastics) is wildly overbought. But more dangerously remains the state of two haunting fundamental facts: 1) our "live" price/earnings ratio settled the week at 31.6x, and 2) the amount of dollars it takes to move the S&P one point has thinned even further from 911k on 29 January to just 474k today. Yes, we herein hammer away at this week-after-week, for eventually the Great Unraveling will out. Also, the engaging "pas de deux" we'd been witnessing between Gold and the S&P has seen the latter break it off into a "see ya dude" as depicted here by their respective percentage change tracks from one month ago-to-date (21 trading days)
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