• 288 days Will The ECB Continue To Hike Rates?
  • 288 days Forbes: Aramco Remains Largest Company In The Middle East
  • 290 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 690 days Could Crypto Overtake Traditional Investment?
  • 695 days Americans Still Quitting Jobs At Record Pace
  • 697 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 700 days Is The Dollar Too Strong?
  • 700 days Big Tech Disappoints Investors on Earnings Calls
  • 701 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 702 days China Is Quietly Trying To Distance Itself From Russia
  • 703 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 707 days Crypto Investors Won Big In 2021
  • 707 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 708 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 710 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 711 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 714 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 715 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 715 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 717 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

readtheticker

readtheticker

readtheticker

We are financial market enthusiasts using methods expressed by the Gann, Hurst and Wyckoff with a few of our own proprietary tools. Readtheticker.com provides online…

Contact Author

  1. Home
  2. Markets
  3. Other

Gold Re Accumulation is Health

Gold is under going a complex A-B-C correction. So far is very healthy.

The benefit of the doubt is that the current gold (GLD) pattern is one of re Accumulation. Why? Because we have not seen a traditional distribution pattern (double top, head and shoulders, triple top, rounding top). Plus the ECB, BOJ, FED, BOE are still expanding their balance sheets.

The recent rally is an easy spot for a Wyckoff Sign of Strength (SOS), sharp move up with good volume support. The problem for the whales in the market is that every one can see it. The current sell off (ie C wave) should be enough to trick, frustrate and scare the weak hands out of the gold float to the strong hands and only then will a substantial rally occur. The more tame and shallow the C wave is the more bullish the pattern is. Please note that Gold can still fall to 120 or 130 and still be very be bullish, as the 'C' wave is frustrating wave at the very least.

The recent sell off during the last full week before Christmas holidays is in sync with USDJPY rally and Apple Inc sell down which means some folks have to sell something profitable to balance their trading book before year end.

The 'C' wave becomes very nasty if volume explodes and price accelerates to the downside. So far easy sailing.


Larger Image

 


Comments can be left here.

 

Back to homepage

Leave a comment

Leave a comment