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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Enigma who wrote (54389)	6/15/2000 11:21:00 AM
From: pater tenebrarum	Read Replies (2) \| Respond to of 116832

the point was that if gold breaks out to an intermediate term new closing high and the XAU doesn't, that the gold rally will likely falter. which is exactly what happened. take a look at a gold/XAU overlay chart dating back several years, and you will notice that the XAU ALWAYS led gold rallies. at every important turning point (up or down), non-confirmations between the two occurred. non-confirmations are a tried and true t/a tool. yesterday was a good example for one. i don't deny that the medium to long term outlook for gold seems brighter than it has for quite some time. but that wasn't the point. i agree btw. that no-one currently believes a rally beyond $300 that will hold is possible. this is of course a good sign from a contrarian PoV.