Thursday, November 03, 2011

Market Timing-Whats Next -NOV 3rd ~~ EBC rate cuts gets a boost

GOLD MAKING a LAST GASP BID before dropping to a new low

FROM August 23rd
wave count looks like 1,2,3 down to 1533 on SPT 26th
abc rebound to Oct 28th to 1752
NOW attempting to break out about that level but holding tight under 1760
1776 would be 62%,

55 days from Aug 23rd = NOV 9th and could be the last peak in this wave
thus giving way to the anticipated 5th wave to 1400.
Each big decline since Aug 23rd has only taken 3 to 4 days.
GOLD likes to follow the moon cycle - FM on Nov 10th indicates
a neg impact on money- stocks & gold.

Momentum weak
MACD about to roll over again
Ult reaching a peak


ECB cuts rate by 1/4 % at 8:45am
futures run to spx 1250 - 53, right at the previous gap

As prev mentioned several times, HIGH energy at 10am today
but later confusion & deception

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