Stocks Rally and Metals Decline – But That Probably Wasn’t The Top

Posted: under Commodities, Predictions.
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Spiral Calendar Clusters For Gold (GLD)  August23rd, 2011

Spiral Calendar Clusters For Gold (GLD) August 23rd, 2011 – click to enlarge

Spiral Calendar Clusters For Silver(SLV)  August23rd, 2011

Spiral Calendar Clusters For Silver(SLV) August 23rd, 2011 – click to enlarge

Gold – GLD and Silver – SLV

Gold made a sharp decline from yesterday’s high but I’m not yet convinced that was the top.
When silver made its top in the spring, the first big down day on May 2nd, closed below support at the bottom of the low prior to the top. Gold didn’t do this yet but should almost immediately if sentiment has truly changed. Also there are no spiral clusters near yesterdays highs on either the silver or gold charts, but there are several over the next week or so. Gold and stocks have been moving in opposite directions, and I don’t think gold can top until stocks decline significantly and all appetite for risk evaporates. Given current volatility, this can happen at any time, although our favored spots are this Friday, August 26th and the same lunar phase next month, near Sept. 25th.

Silver – SLV

Comments (4) Aug 23 2011