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Strategies & Market Trends : Classic TA Workplace

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To: skinowski who wrote (63776)	1/15/2003 6:27:19 PM
From: Moominoid	Read Replies (1) of 209892

Looking at the chart: stockcharts.com[m,a]waclyyay[pb50!b200][vc60][iUb14!Lh14,3]&pref=G It looks like gold completed a 5 wave move up since the beginning of 2001. And on the daily chart, 5 waves with an ED seems to be completing/completed. stockcharts.com[m,a]daclyyay[pb50!b200][vc60][iUb14!Lh14,3]&pref=G The bullish argument would be that that is just 1 of 5.... as it is quite short in time compared to 3 (but 1 is short too). Or maybe there will be an extended wave... The reason I would think gold should be going up is because I see equities going down. But maybe the chart is saying otherwise. OTOH, HUI seems to be completing a correction here after rising in 5 waves out of the big triangle. stockcharts.com[m,a]daclyyay[pb50!b200][vc60][iUb14!Lh14,3]&pref=G My guess is that that is just wave 2 of 5. That is definitely suggested by the stochs on a monthly chart. So, all in all I think gold has some more to run. It is also in a bull market despite what Prechter/Hochberg think last time I checked... moom stockcharts.com[w,a]waclyyay[pb50!b200][vc60][iUb14!Lh14,3]&pref=G

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