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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 694.04

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Jan 9 4:00 PM EST

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To: GROUND ZERO™ who wrote (48225)

4/4/2013 3:01:41 AM

From: John Pitera

1 Recommendation Read Replies (5) of 221580

Hi GZ....Patrick Slevin and a couple of other longer terms on SI are asking where are the true technical analysis threads.......several of us have been ruminating that their are not actually that many of them

	4/4/2013 1:59:05 AM
real nuts and bolts ewards and magee, W D Gann , Elliott wave, Gerad Appel ..... Wilder ect......... and they are suggesting it is time to build such a thread......I don't know if time will permit me and the Lord will be so gracious to endorse such an undertaking....... but I have some TA charts that an associate and I build and monitor.....we post less than !/100 of 1% on SI.....'but I did want to stop by and post a gold chart.......there are so many times when you don't wnat to be the brain surgeon that knows what happens next and instead want to have a bull case way you play the outcome and a bear case way to play a bearish breakdown in a market.... Gold is at a Super pivotal period of time...... as we see it.......and the market will tell us what to do and it will have significant ramification for numerous other Global Equity, Debt, Currency and the ever growing list of Global Banks and countries that could not stay out of derviatives...even if they wanted too,	of 13982
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Hi Y, here is a chart........gold is in a very interesting and fairly complicated pattern.....it has many elements of a market that is in a descending triangle which usually one of the most reliable chart patterns to which would suggest that we will break the horizontal baseline support and in that case a reasonable target for the ultimate end of the decline would be about $400 lower than 1923$ price top out in Sept of 2011 and these jagged lows in say thw 1528-1535 range....... the chart looks lousy and I would not be looking to buy this support but would be shorting it on a break 2 day close below $1500 and wondering what will be happening in the global economy if it goes down $400 bucks from here. The very deep momentum generated on the RSI on it's Feb 2013 decline almost mandates that this chart is going go break down and the price of gold denominated in USD is going lower. The XAU is down 50% and is showing a double momentum buy signal, but a quarter of those companies are on the financial rocks....... if gold breaks down and we see a meaningful decline, then I do not know how you can say that TA is Nonsense. Our FED and the Central Banks of the world have driven us off into fantasy worlds........ but I would not throw the baby out with the bathwater......... Interesteing the XAU..... which is down from 228 to 128...... that chart is actually showig a double momentum buy divergence...... but remember its for the companies that stay in business.... John PS constance brown has written an excellent book on TA that has been updated in 2012.....she has a very interesting of using a methodology of using specifice ema averagers overlaid on the RSI and I believe she's on to something good. I hope to discuss her methodology..... and maybe generate a few books sales for her sometime soon.

Gold is at a Super pivotal period of time...... as we see it.......and the market will tell us what to do and it will have significant ramification for numerous other Global Equity, Debt, Currency and the ever growing list of Global Banks and countries that could not stay out of derviatives...even if they wanted too,

John

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