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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Shill
Jul 24, 2011 - 6:40pm

I don't know what he's smoking, but it must be the best

I don't know I have some pretty mean Kush myself.

................................ Gold looks just awesome on the 1 minute.

Tesla
Jul 24, 2011 - 6:40pm

Revised Outlook? Lets Hope!!

(BTW - I'm guessing not QUITE so straight up probably... Not even close! Big battles ahead at several levels)

TheGoodDoctor
Jul 24, 2011 - 6:38pm

$1620.10 high.

$1620.10 high.

question
Jul 24, 2011 - 6:36pm

Forex

To my very untrained eye the USDCHF seems to be the pair that gapped down substantially but now seems to be recovering. So far I see no big deal happening otherwise.

Gold however....you bet! with silver following along nicely; ~1% for both as of now.

And I was hoping for a dip to buy; maybe later this week?

¤
Jul 24, 2011 - 6:34pm

Tomorrows theme song

Listen up around 1:00 mark

The Mamas & The Papas - Monday Monday
TheGoodDoctor
Jul 24, 2011 - 6:32pm

So, any bets on whether or

So, any bets on whether or not we get to Santa's next angel?

¤
Jul 24, 2011 - 6:31pm

Yep, Fifth Dimension

The 5th Dimension Age of Aquarius 1969
TheGoodDoctor
Jul 24, 2011 - 6:30pm

Is Asia open 9 PM Eastern? Or

Is Asia open 9 PM Eastern? Or is it 7 PM Eastern?

OC15
Jul 24, 2011 - 6:30pm

Nice

Gold and Silver on fire 1/2 an hour into the next week's session!

daveyboy
Jul 24, 2011 - 6:27pm

Surely the debt ceiling, if

Surely the debt ceiling, if an agreement has been reached, can be sold as a positive though and thus will push down the commodities, at least it will give them the ammo needed to push down commodities?

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