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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Vendit™ who wrote (42609)	12/27/2012 7:57:52 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 221496

I find it highly intriguing that you now get some modest type buy signals in gold... because, just this morning I was plugging the gold market into my SP model and the data told me that the gold market has two major downside VPs, BOTH due no later than Wednesday, January 9th... those two VP prices are 1663.70 and 1633.20, both for the Feb gold futures... this means on that date, and no later than that date, a close above 1633.20 would confirm a main model buy signal for gold... and on that date, a close above 1663.70 would confirm a double main model buy signal for gold... Of course, gold could still work lower and not confirm the signal, but most of the time when the market reaches a major VP, we generally see a solid reaction from that VP price in the opposite direction from which it was just trending... so, based on that data, I think it's probably time to begin dipping back in this morning and scaling into that market over the next couple of weeks... BTW, do you think that would also apply to silver or is that a completely different creature? TIA GZ