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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives
SPY 684.84+0.6%Dec 22 4:00 PM EST
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To: flrtrader who wrote (89017)1/7/2017 3:20:59 PM
From: GROUND ZERO™1 Recommendation

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Mevis

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As a general rule, the crowd is never right... the dollar will dictate the direction of gold, and here's my time/price square line for the dollar as of Friday... it dipped below it on Thursday only to return back above it on Friday... I think there's a reasonable likelihood that the dollar will now continue its rally... this market has been doing this from all the way at its lows and also gave a buy using the very same method... if the dollar rallies, then gold will have more headwind... at least this is how it seems right now... this time/price line appears to overlap the simple trend line connecting these recent lows beginning with the low made on November 9th, the day after the general elections... to me, it looks like a stronger dollar is coming... its effect on gold would seem negative...



GZ
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