That Was Loud …

July 25, 2012

I remember saying this morning that until the dollar cycles fails, that this was all noise.

Well, the dollar formed a swing high and filled the gap today.
Minimally, the dollar needs to break the rising trend line.
I think that until there is a break below the previous cycle low, that this is just noise.

I must say, it got pretty loud today 🙂

The Miners formed a swing low and had a clear and convincing trend line break.
It looks like the Miners printed a day 17 low on Tuesday and this is day 1 of a new daily cycle.

However, gold has not confirmed yet.

Gold actually formed a swing low on Tuesday with the follow through today.

However, gold is still confined in the triangle consolidation.
We need to see gold break out of consolidation to confirm a new daily cycle.
And it will also confirm its time to jump into gold.

4 responses to “That Was Loud …”

Jack Dog

July 25, 2012

Likesmoney,
Thanks for the reports, just not a lot to comment on until Ben speaks again. Seems so much of a waste of time to find out what he has to say, and it will effect the market! A wait and see summer market, only trend is the HEAT.
Jack Dog

Reply
ALEX

July 25, 2012

DITTO ABOVE L.M. : ]

Especially the thanks part, I look fwd to the reports

Reply
trondtveten

July 26, 2012

$ just broke below the previous cycle low! That happened even faster than you imagined.

Reply
Riser

July 26, 2012

Hey Guys….great look at things – as per usual LM.

Throwing the ol fundamentals in there – and we may be set up for a nice run at the highs – as much as it truly is a “news driven” run at best.

Draghi took his turn this morning…and I have a sneaking suspicion that Uncle Ben will also throw his hat in the ring next week ( with at least “suggestion” of further easing plans / likely not initiate) so……….

Still cautious with smaller postions …and taking all profits as fast as I see them.

Reply