MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (9495)	11/23/2001 11:19:23 PM
From: macavity	Read Replies (1) of 19219

J.T. I have not been following gold, but I cannot see why you are bullish it. I see an XAU target of 47/46 or so. As we have retraced 2/3 of the rise from the lows the 42 level is even on the cards. Most stock trendlines/supports are busted and the weekly trend is definitely down. I feel that we could be making a long-term bottom to end the multiyear bear but money has been flowing out of these stocks since Sept. XAU, like bonds, may end the year flat or small up/down. A doji year? good luck, anyway. -macavity

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