MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: bobby beara who wrote (46361)	4/14/2000 9:35:00 PM
From: pater tenebrarum	Read Replies (4) of 99985

Bobby, here is agreeing with you, 100%. i have used every day the XAU has spent below 60 to add a little here and there. it looks to me like it is trying to move out of that big falling wedge now. the move didn't really break out of the formation yet, so it may yet pull back again. but it's just as easily possible that it just keeps moving from here...there was also a bullish momentum oscillator divergence at the low, as well as a mass towel throwing by several gold bugs that post on Gold Eagle. admittedly i'm still a bit worried by the Prechter long term count that targets 180 for the PoG, but looking at the PoG chart, last year's low had all the hallmarks of capitulation, down to the thickness of the bearish news... regards, hb

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