Ultraviolet

316
Fri, Jul 22, 2011 - 10:21pm

Just two simple charts for you to chew on over the weekend. I'll be unavailable for a couple of days as I'm headed to where the streets have no name. It'll be a sort of homecoming for me in the city of blinding lights, out there in God's country, where the land is often as white as snow. This time of year, however, it should be a couple of beautiful days.

First up, here's a weekly silver. As you can see, the uptrend from 2010 appears to be firmly intact. This chart confirms for me, however, that silver, above 40, will encounter some resistance around 42 to 42.50. It won't be the end of the world but there may be a period of a few weeks where gold will outperform. Ah...silver and gold. What a pair! Two hearts that beat as one!

Gold, on the other hand, looks magnificent...almost like staring at the sun. Gold may often seem to move in mysterious ways but, in fact, it moves with grace. Once you realize that the goal of The Cartel is to manage its ascent, you can begin to see, and rely upon, repeating patterns. The most grand of patterns is evident on the chart below:

The pattern above is not just the real thing, it's even better than the real thing. Note how, since 2009, gold has followed a six-month pattern of, roughly, 20 weeks UP followed by 6 weeks down. It may appear out of control but it is, in fact, the sweetest thing. Gold is now clearly into its next 20 week UP cycle. Following pattern, we should expect a mid-November high, somewhere in the neighborhood of $1800. Not bad.

That's it for now. I must walk on with or without you. I hope you have a great weekend though of course, some days are better than others. This is my exit but I'll be back in three sunrises. TF

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  316 Comments

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Tesla
Jul 24, 2011 - 6:54pm
Shill
Jul 24, 2011 - 6:52pm

6:10pNo U.S. debt deal;

  1. 6:10p

    No U.S. debt deal; Obama meeting with Democrats( What? leave the Hampton's on a beautiful day like this. Get real

  2. Reports: Boehner aiming for debt plan Monday ( And we will continue the drama all the way till Friday )

  3. 5:54p

    Reports: Boehner told GOP members no deal today ( See above)

  4. 5:00p

    No U.S. debt deal; investors eye Asian markets ( Houston go with throttle up )

Save_America1st
Jul 24, 2011 - 6:52pm

Do we see 1700 by tomorrow morning???

Well gold is up 23 zombies/oz since things opened up just 45 minutes ago. Obviously that can't keep up all night or we'll be over 2000 by tomorrow morning! But I wonder if there will be enough strength to breach 1700 or higher before the U.S. opens up in the morning?

Silver isn't doing anything in comparison. Is the EE is letting gold run freely while they use whatever power they have to continue to hold silver down as long as possible?

Do we see Santa's next Angel sometime this week??? 1764 is the next magnet to watch:

https://www.jsmineset.com/2011/07/18/1764-is-the-magnet-to-watch/

Irene
Jul 24, 2011 - 6:51pm

Silver and gold

Both silver and gold are both doing just fine. Silver up 1.21%, gold up 1.26%.

¤
Jul 24, 2011 - 6:49pm

Kush x Haze

Hence my moniker

raulv
Jul 24, 2011 - 6:49pm

Yeah!! I'm joining this party

Yeah!! I'm joining this party too.. hope BM doesnt wake up though! (maybe she's to busy with the whole Debt Ceiling enchilada.. asking for more funding on her evil plans to keep commodities on check?

¤
Jul 24, 2011 - 6:48pm

8:00 p.m. Asian open

I think we hit the angel on Tuesday but anything is possible at this point. It could happen tonight if someone in another market makes one big move in the FX market.

Tomorrows sound bites all day from the pols on MSM should get interesting. One slip up during a stressed out petty moment and those angels start to soar.

Speaking of angels...

Black Sabbath - Heaven and Hell with lyrics on screen
duckwomanloulou¤
Jul 24, 2011 - 6:45pm

Thanks DPH

For doing what I was thinking!

Lou

The Prodigy - Firestarter (HQ)

However this is a more modern UK appreciation of what is about to happen!

LaMachinna
Jul 24, 2011 - 6:44pm

Honey ran out..

to get the popcorn. whoa. Wouldn't want to spend some interesting history with anyone else but my favorite turds.

TheGoodDoctor
Jul 24, 2011 - 6:42pm

$1624.50 high!!!!!!!!!!!!

$1624.50 high!!!!!!!!!!!!

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