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

To: Bobby Yellin who wrote (11636)	5/14/1998 7:26:00 PM
From: bobby beara	Read Replies (2) \| Respond to of 116835

XAU Update: iqc.com We are still in a corrective mode and I still believe we are looking for a bottom at 79 (trendline from Jan 12 thru March 20th lows) If you look at the chart the segment between the late Feb lows to March 20th, it is a mini-duplicate of the chart pattern between March 20th and now. Deflation Ahead? The CRB chart has an impeccably formed descending triangle with bottoms in the 222 area. A descending triangle in a downtrend normally is a signal of a further downtrend. Just like 29', seemingly goldilocks environment fueling a credit bubble fiatsco. Gold diverges from the CRB here where it has broken out of a inverted head and shoulders pattern on high volume (after end of year panic sell-off) an indicator that the bull market has begun and dips should be bought aggressively and bearish sentiment on the xau means buying opportunity. Palladium has been leading the metals charge and the recent blips in Palladium may be a warning signal that we are close to finding a bottom in the soft yellow. On the currency front the composite of SEA currencies on an elliot basis looks like the devaluations of last summer and fall were a wave three and we've been consolidating wave 4 fashion up until now and we are ready for another blast off in devaluations (maybe China?). Something that in this new era environment that may fuel a blow-up in US stocks and bonds. The Nasdaq and SPX are both at pinnacles of symetrical triangles and we should see a noticeable break either way in the next few days to confirm the next leg of this market (normally it is a continuation of the trend - bullish) Also we have spent most of the last month in the McOscillator in the negative (oversold) area of the oscillator, indicating that we may have a lot of pent-up buying demand and money supply out there. Yahoo has broken strongly up out of a symetrical triangle and since the internets have been leading the Nasdaq and taken over from SOFT - TEL this is further evidence that the bull trend will continue. See ya at 10,000 -g- Happy Golden Anniversary Israel! bwdik, bobby b