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 - 6:19pm

Sweet

Now that is movement.

Looking Good Billy Ray
TheGoodDoctor¤
Jul 24, 2011 - 6:18pm

@DPH I thought they yanked

@DPH I thought they yanked the PPT money? Meaning they won't be making any buys in the markets any longer. Wasn't there something posted at ZH last week or two about this?

PS Remember when I was saying the prices were acting like those nat gas algos mentioned on ZH? I think it is happening again. Up, down, up, down. Weird.

¤
Jul 24, 2011 - 6:18pm

ok, I'll use the rocket analogy

Elton John-Rocket Man-1972
daveyboy
Jul 24, 2011 - 6:18pm

Why do you believe market

Why do you believe market news tomorrow will be horrific?

¤
Jul 24, 2011 - 6:14pm

A nice start, just the beginning

I feel sorry for the people who have no clue what's coming at the open of tomorrows markets.

Could Team Plunge Protection blunt the market trauma that's about to occur and will they?

I don't think so. This will be another of their shock and awe campaigns against citizens to scare the crap out of them and to soften them up for another round of QE or whatever.

When do the futures indicators come out tonight for the U.S. a.m. market opening?

duckwomanloulouTesla
Jul 24, 2011 - 6:11pm

Straight up .....

Without wishing to use the rocket analogy that we so love ......

Lou

zilverreiger
Jul 24, 2011 - 6:11pm

a little crackle, looks to be

a little crackle, looks to be going back again, as long as it doesnt crash more than 10% I'm happy

Tesla
Jul 24, 2011 - 6:07pm

Saaaa-WEEEET!!!

nice little burst there =]

Blight Master
Jul 24, 2011 - 6:04pm

Boom!!!!!!!

Boom!!!!!!!

TheGoodDoctor
Jul 24, 2011 - 6:04pm

I like candles!

I like candles!

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