This Looks Familiar …

November 7, 2012

The current pattern we witnessed on gold’s daily cycle look familiar.

Gold had an extended sell off of 21 days capped by a final panic flush.

Looks a lot like the dollar chart from last year.

The dollar had an extended 18 day sell off capped by a panic flush.

So gold followed up the panic flush with a narrow range day

We see that the dollar did likewise

Now gold has reversed the panic sell off and poked through the declining trend line.

That is just what the dollar did …

Which led to a dollar rally.

The set ups are similar.
Gold is in the timing band for a daily and intermediate cycle low.

Do you have your ticket to ride …

8 responses to “This Looks Familiar …”

jon

November 7, 2012

I like your analysis ..it is concise and clear.. I suggested before that you ask tim knight on slope of hope to allow you to post there ..I emailed tim recommending you.. did you not like the idea?

thanks again…

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1. Eddie Torrez
  
  November 7, 2012
  
  The Slope of Hope has gone from a Bear leaning charting Web page to a social media page. I find it to be a waste of time. likesmoneystudies there are better sites to post on if you think you need the exposure the best thing to do is keep up the great work you do here, investors will find you as the word gets out. Just my opinion
  
  Reply
Jack Dog

November 7, 2012

Likesmoney, ” TICKET Please “. Jack Dog

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IheartMrs.Seaver

November 7, 2012

Danke. May the poke -pattern continue.

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likesmoneystudies

November 7, 2012

We discussed in the Weekend Report that the equity market had all of the makings of an intermediate cycle low, sans the failed daily equity market.

Well, we do now.

On top of that the Buying on Strength numbers are building.

We may have printed the intermediate cycle low today. And if not today, probably in the next few days.

So we have gold printing an intermediate cycle low on Monday and now possibly stocks today.

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1. Joe
  
  November 7, 2012
  
  Amazing how this works! Thanks LM.
  
  Reply
likesmoneystudies

November 7, 2012

Regarding Tim knight and the Slope of Hope.
I am aware of him and his site.
I have not spent any time there so I am not familiar with his posting procedures.
And I am not sure I would be willing make a commitment to posting there at this time

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ALEX

November 7, 2012

L.M.

Thats a great ‘chart to chart’ comparison that you pointed out ( Dollar panic and Gold panic lows) …Nice little visual reminder of the ‘shake out (s) ‘ .

You have done a nice job nailing turning points all along.
And the growing # of different ones posting thoughts here is a testament to your good work… ; ]

THANKS!

ALEX

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