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

About the Author

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tfmetalsreport [at] gmail [dot] com ()

  316 Comments

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¤
Jul 24, 2011 - 7:06pm

If money could talk...

AC/DC - Moneytalks
TheGoodDoctor
Jul 24, 2011 - 7:03pm

All right taking a break be

All right taking a break be back later. Don't let the rocket take off without me!

Yooper Rick
Jul 24, 2011 - 7:03pm
Jake
Jul 24, 2011 - 7:01pm

Trading is Just Guessing

Most of the time you guess wrong

Irene¤
Jul 24, 2011 - 7:01pm
Jake
Jul 24, 2011 - 7:00pm
ghost
Jul 24, 2011 - 7:00pm

I am so screwed

I gambled on keeping my silver shorts over the weekend, what a disaster I'm so screwed.

RIP

Shill
Jul 24, 2011 - 6:59pm

DPH

I am showing 74.39

Shill
Jul 24, 2011 - 6:56pm

-114

Dow Jones Industrial Average futures down almost 1%, or 114 points, amid lack of debt deal

Heres to hoping the GDX says F'ck you DOW, were going higher.

¤
Jul 24, 2011 - 6:56pm

Couple observations

Silver seems to be hesitant at this point. Not getting a lot of action or just being held back a little? idk

Gold on the other hand is moving steadily in the first hour. No EE interference at this point.

If this goes unabated with no EE interference at some point then I know they want what's about to happen to happen.

Does anyone have a reliable POSX price right now?

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Key Economic Events Week of 1/11

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