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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (2942)	5/16/2000 10:13:00 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

XAU looked like it was ready to go this afternoon as it took off right into FOMC announcment and reached an intraday high of XAU 61.12 before fading like a spent horse into the wire. It still managed a paltry gain of 19 cents to finish at XAU 59.86 (low was 59.25). 5 minute scale: charts-d.quote.com:443/958528071410?User=demo&Pswd=demo&DataType=GIF&Symbol=XAU.X&Interval=5&Ht=400&Wd=600&Display=0&Study=&Param1=&Param2=&Param3=&FontSize=10 We now have a narrowing wedge from May 5 high of XAU 63.10 to todays 61.12 and rising low from 58.25 to now 59.25. 60 minute scale: charts-d.quote.com:443/958527912620?User=demo&Pswd=demo&DataType=GIF&Symbol=XAU.X&Interval=60&Ht=400&Wd=600&Display=0&Study=&Param1=&Param2=&Param3=&FontSize=10 XAU has now been up 2 days in a row albeit pauper gains. Everything is set-up for that run to XAU 68. Now for market to do my bidding on XAU we get down day affair where we test lows between 58.25 and 59.25 for that one day false break. We then get that opportunity to go long the XAU at the close tomorrow. ABX intraday high was ABX 18 15/16 but faded and closed at ABX 18 7/16 down 1/16. Unless we get a bad close below ABX 18 - I am looking to participate in that elusive one day launch. ggg Here is a 5 day chart of the entire XAU individual component breakdown: quote.yahoo.com Best Regards, J.T.