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

To: flrtrader who wrote (89258)	1/24/2017 8:22:27 AM
From: John Pitera	Respond to of 218769

Thanks Keith, Gold has had a very impressive rally since it's mid december 2016 low...... it has been heading straight up in what might be an impulse wave. The daily gold chart looks unusual on this rally. I can not exactly put my finger on it. You are definitely right that we can have times when both gold and the USD both rise in tandem.... possibly the global uncertainty of the what the Trump administration will do is causing the positive price action and depending on what the administration does I could easily understand why gold could move higher. the daily Silver chart is more lack luster and that gives me ponder what is wrong with this picture. The markets are certainly being impacted and can move in all various combinations of ways with all of this global geopolitical uncertaintly..... The biggest adjustment will come in the currency markets and we have to be patient and let the market tell us what it wants to do based upon the myriad influences on it. This current environment is nothing like 12 or 18 months ago when Obama was President and we knew not much was changing in Washington. I would be happy to talk about various market ideas via PM.... John

To: flrtrader who wrote (89258)	1/24/2017 9:09:41 AM
From: GROUND ZERO™	Respond to of 218769

I agree with you, long both the dollar and gold should work well through 2017... I'm long the dollar and had been long gold until I took a light short in gold as of yesterday's rally, but will reinstate the long side if the gold market returns to my short price... And for lunar cycle enthusiasts, we have a new moon this Friday, this suggests that by then we should see stocks resume its rally to new all time highs, if not sooner, it's just another 3 days plus today... the full moon cycle had very little effect on this market, it should have moved much lower, but all it did was mark time... this has to be construed as bullish... GZ