The US Dollar Put In A Wave 2 Intermediate Term Cycle Low At 74.85 On Friday 2-1-08
The US Dollar put in a Wave 2 intermediate term cycle low at 74.85 on Friday 2-1-08, see http://stockcharts.com/charts/gallery.html?%24usd, and, put in a Cyclical Bear Market cycle low in November 2007 at 74.48 (probably entered a Cyclical Bull Market in November 2007).
Note the very large bullish inverse spike on the candle of the November 2007 likely Cyclical Bear Market cycle low at 74.48, and, note the large bullish inverse spike on the candle of the Friday 2-1-08 Wave 2 intermediate term cycle low at 74.85.
As I said before, pay close attention to the bearish large spikes and bullish large inverse spikes on the daily and intraday candlestick charts for important indexes, commodities, lead indicators NEM/WMT, and, for trading stocks/ETFs etc.
The US Dollar bottomed about three months ago, after being in a Cyclical Bear Market since late 2005, and, the babbling senile gold pimps are still frothing at the mouth. No surprise really. We should be hearing a lot about how gold is "manipulated" in the next 12-18 months by the "evil" Hank Paulson at the US Treasury.
They won't explain how gold nearly doubled from May 2004 until May 2006, or, how gold rose dramatically since the 8-16-07 cycle low if it's being suppressed. Gold averaged +30-35% each year from April 2001 until now, which is a period of nearly SEVEN YEARS. +30-35% each year on average is an amazing rate of return for a nearly seven year stretch. Not many mutual funds have matched that rate of return over that timeframe, if any.
....... http://www.JoeFRocks.com/ .
HUI NEM XAU
Note the very large bullish inverse spike on the candle of the November 2007 likely Cyclical Bear Market cycle low at 74.48, and, note the large bullish inverse spike on the candle of the Friday 2-1-08 Wave 2 intermediate term cycle low at 74.85.
As I said before, pay close attention to the bearish large spikes and bullish large inverse spikes on the daily and intraday candlestick charts for important indexes, commodities, lead indicators NEM/WMT, and, for trading stocks/ETFs etc.
The US Dollar bottomed about three months ago, after being in a Cyclical Bear Market since late 2005, and, the babbling senile gold pimps are still frothing at the mouth. No surprise really. We should be hearing a lot about how gold is "manipulated" in the next 12-18 months by the "evil" Hank Paulson at the US Treasury.
They won't explain how gold nearly doubled from May 2004 until May 2006, or, how gold rose dramatically since the 8-16-07 cycle low if it's being suppressed. Gold averaged +30-35% each year from April 2001 until now, which is a period of nearly SEVEN YEARS. +30-35% each year on average is an amazing rate of return for a nearly seven year stretch. Not many mutual funds have matched that rate of return over that timeframe, if any.
....... http://www.JoeFRocks.com/ .
HUI NEM XAU
Labels: Gold
posted by Joe Ferrazzano at
1:34 PM
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