Making the story more complicated is the FOMC meeting 07-08 Nov
My expectation is that stocks will spike down over the next few days and then reverse!
The USD and EURO are delicately poised with a “double bottom/top” and there can only be one winner.
So my guess is that the USD will re-test the recent high & gold the recent low until mid week when each reverse.
The AUS miners went nowhere on Friday despite the spike in gold, and at 33 calendar days 31 Oct seems a little short for a gold DCL.
So if 06 Nov is the DCL for gold 22 Nov is most likely the HCH (calendar day 16) and 27 Nov the HCL (calendar day 21) and 05 Dec the DCH (calendar day 29) and 20 Dec the DCL (calendar day 44)
If I am correct then the USD has most likely topped (despite a back-test early this week) and will print a left translated daily cycle, followed by another after Xmas.
Making the story more complicated is the FOMC meeting 07-08 Nov
My expectation is that stocks will spike down over the next few days and then reverse!
The USD and EURO are delicately poised with a “double bottom/top” and there can only be one winner.
So my guess is that the USD will re-test the recent high & gold the recent low until mid week when each reverse.
The AUS miners went nowhere on Friday despite the spike in gold, and at 33 calendar days 31 Oct seems a little short for a gold DCL.
So if 06 Nov is the DCL for gold 22 Nov is most likely the HCH (calendar day 16) and 27 Nov the HCL (calendar day 21) and 05 Dec the DCH (calendar day 29) and 20 Dec the DCL (calendar day 44)
If I am correct then the USD has most likely topped (despite a back-test early this week) and will print a left translated daily cycle, followed by another after Xmas.
Thanks for your insights