Relevant potential time turns are indicated by an alignment of 4 or 5 or as many as 8 or more coincident time terminations of annual anniversaries from previous market highs and lows which are usually accompanied by important Gann cycles. The following weekly chart below illustrates this. We have a 5 and 6-year measurement both due in September and one of 9-years due in October. We would not ignore them but they are few in number and were not accompanied by any Gann cycles.

We then moved to a daily chart which follows below. Our findings here were somewhat surprising given there were very few time observations on the weekly chart. On September 11, two (red) Fibonacci golden sections and a (blue) low-to-low measurement in time will terminate coincidentally. Low to low price intervals tend to project to a high more than to a low. Ironically, we then looked up the date of the all-time high in gold futures. It was September 6, 2011, 3 trading days earlier than the September 11 date, definitely not something we would consider as a random coincidence.

We must therefore consider that there is a good chance for a market turn in the foregoing period.

Note that we did not write a “high” or a “low.” Were prices to experience a correction into the week of September 11 plus/minus one day, a low would be more probable. An immediate continuation of the move higher would obviously be a warning of a high.