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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 368.29+0.6%Nov 7 4:00 PM EST
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To: carranza2 who wrote (197507)3/20/2023 10:33:06 PM
From: TobagoJack   of 217602
 
Re <<It isn't over yet>>

... and according to Martin, it hasn't started yet

Gold has not broken out yet. That will take a monthly closing above the 2100 level.

ask-socrates.com

Gold & the Breakout

MONDAY, MARCH 20, 2023
BY: MARTIN ARMSTRONG



COMMENT: Marty, Thank you for clearing the air regarding gold. The rally had nothing to do with the money supply. It is a confidence game. The local bullion dealers were sold out. The spread on the spot to physical coin has widened sharply showing again what you have been saying that there is a shortage of retail metals compared to professional trading.

Thank you for the education compared to the typical buy all the time because the Fed will create money. That is getting so old.

WK

REPLY: Look, most of the rhetoric is nothing more than salesmanship. Gold has not broken out yet. That will take a monthly closing above the 2100 level. We can see that gold has rallied back to test the top of the core uptrend channel. My concern here is looking at the Weekly Array, it has aligned with the ECM. Ideally, whatever we git in April would normally provide the opposite trend into June.

We have such a convergence of factors, it is impossible to say which one will be at the top of the heap. Between a banking crisis and war, the Biden Administration is just totally incompetent. They have been so driven by WOKE, they are sending the country to go BROKE. Whatever should be done, is not being done. I believe they bailed out SVB only because the board was big Democratic donors and the bank had 85% of its money from California Democrats - the worst of the lot.

So stay on top of the Reversals in here, for they will point to the swings in direction between here and April and then followed by June.
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