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Attenuated amnesty


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A move above 1.25 on EUR/USD and we're going to get the mother of all squeezes.

 

Yep and look where we are on the aussie weekly also. That purple line is now a flashing light for me.

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This seems to jive with what dharma is saying:

 

http://jessescrossroadscafe.blogspot.com/2010/05/gold-is-in-classic-cup-and-handle.html

 

Any thoughts about Jesse's analysis?

 

I love Jesse's work, but I've got a problem with the cup and handle analysis. Coming from the IBD school of cup and handles, the handle should not form above the left side of the cup. A sound handle will form in the upper half of the cup and starts <15% from the highs. This is a high handle, and it would be a warning sign that the break-out could fail. According to IBD, you should not buy cups with high handles.

 

An alternative analysis is that gold broke-out from a severe cup and handle back in Oct. 09, ran to new highs, and has simply pulled-back (what Jesse is calling a cup). Since this new "cup" did not fall back below the previous high (somewhere between $1,030-1,040), it is a continuation of the original break-out. In other words, I'm treating this like a pull-back, which will provide an opportunity to add to your positions.

 

But I do agree with him - gold is going higher. :D

post-4028-1274361295457.jpg

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Good morning Doc!

 

From your Fed report, I'm aware of the huge amount of new cash the Trashury will be begging for next week.

 

Do you happen to know how much will be maturing? I'd like to figure the total amount of borrowing on the horizon next week.

 

Tanks!

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As we left off yesterday, the 3 day cycle proj was around 1083.

 

Get daily updates on the 4 week, 6-7 week, 13 week, and 6 month cycle projections in the Wall Street Examiner Professional Edition Daily Market Update and support your community. Join NOW!

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3 day cycle proj appears to have dropped back to 1076, which is closer to where it looked earlier yesterday.

 

Get daily updates on the 4 week, 6-7 week, 13 week, and 6 month cycle projections in the Wall Street Examiner Professional Edition Daily Market Update and support your community. Join NOW!

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