Flight to safety now that Japan's market has been taking big hits? Continued Gov intervention despite the rhetoric? Hard to say, but it looks yet another factor which argues for at least one more big washout in POG/gold shares. Until the trend changes... why fight it?
stockcharts.com[w,a]daclyyay[de][pb50!b200][vc60][iUb14!La12,26,9]&pref=G
Given Japan's history of intervention I'll probably watch the Euro more than the Yen for ST direction.
stockcharts.com[w,a]daclyyay[dd][pb50!b200][vc60][iUb14!La12,26,9]&pref=G
A break of the recent lows or recent highs would peak my interest. If Euro heads higher ST, then there are probably good odds that gold has bottomed at least ST, maybe IT, but if it makes new lows back to 115 then odds are good that we'll revisit POG 350/360's.
stockcharts.com[w,a]daclyyay[db][pb50!b200][vc60][iUb14!La12,26,9]&pref=G |
