We have a Directional Change back to back for August and September and July was a turning point. So, we may see a reaction to the upside to flush out the shorts at this time since we have excessive bearishness building in the press as the WSJ comment that gold is the “pet rock”.

A reaction rally at this point BEFORE new lows will relieve the short positions but this is not likely to last beyond September. Therefore we are more likely than not going to see the final decline stage into the Benchmarks. Gold is within the channel so the resistance is forming now at the 1155 level followed by 1225-1300. Support will remain at 1084 on a closing basis with key support at 900.

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0803_Armstrong

So I read this as we go up through August 31 then down through September 21 then up through Sept 30/Oct 1 then DOWN to final lows!!!!  Do you guys read it this way???? BTW this matches what I would expect for the larger Wave 4… hmmmm…..