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

To: GROUND ZERO™ who wrote (49800)	5/9/2013 9:38:08 AM
From: Chip McVickar	1 Recommendation Read Replies (1) \| Respond to of 218581

Morning GZ... Took a look at Gold Spot charts (eod) and did a series of studies on the expansion/contraction of the price using Fib ratios... both daily and weekly. Weekly spot chart shows price sustained an expansion even after the Sept 2011 high... But began it's 1st contraction came with the break off 1600 this March 2013 On weekly charts at 1321.50 on April 15... price responded to a pair 50% fibs off 2011 Sept high of 1923... thats the good news...!!! Daily charts of Spot Price show price is still contracting and basically backing and filling. Even reaching your lower VP at 1497.20 before June 11th... spot price will still be contracting. We'll have to see closes above 1560's on the Spot Price to see expansion. A 1.618% extension shows 1590 as the magic higher price... above your 1509 VP for May 31st This corresponds to the orginal point of contraction beginning in March 2013. That said..., the double weekly Fib 50% is impressive sign to have bought lower down. Hope this is of interest... Chip