The US Dollar Hit a 5% Follow Through Major Buy Signal
The US Dollar hit a 5% follow through major buy signal, see annotated chart one at http://www.joefrocks.com/GoldStockCharts.html, and, has very likely entered a 15 to 24 month Cyclical Bull Market, within a 15 to 20 year Secular Bear Market.
A major US Dollar breakout has obviously occurred. The US Dollar is in a Wave 3 Minor Intermediate Term Upcycle, see annotated chart one at http://www.joefrocks.com/GoldStockCharts.html, that's obviously in a peaking process.
In chart three at http://www.joefrocks.com/GoldStockCharts.html one can see that gold's Secular Bull Market uptrend line is at $500ish. Basic technical analysis exposes most gold writers for what they are, when it comes to market timing and technical analysis, incompetents, and, in some cases, frauds. Gold is only timely for long term investors near it's Secular Bull Market uptrend line, currently at $500ish, so, ignore the noise of the many goofball gold writers.
Gold entered a Wave 2 Cyclical Bear Market on 3-17-08, see chart two at http://stockcharts.com/charts/gallery.html?%24gold, the same day the US Dollar entered a Cyclical Bull Market, see chart one at http://www.joefrocks.com/GoldStockCharts.html.
It's deflationary forces that obviously rule the roost. Real estate deflation is HUGE. What do you think kept the US economy reasonably strong from 2002 until 2006? REAL ESTATE. The inflation that fueled gold's bull market from April 2001 until 3-17-08 largely came from REAL ESTATE.
There's obviously a deflationary economic bust in effect, with crashing real estate, tight mortgage lending, existing home equity lines of credit being shrunk or canceled due to crashing real estate values, the auto recession, very low consumer confidence, crashing velocity/circulation of money, that's more than cancelling out money supply growth/the Fed's efforts to inflate the economy, etc etc etc.
.......http://www.JoeFRocks.com/
NEM XAU HUI
A major US Dollar breakout has obviously occurred. The US Dollar is in a Wave 3 Minor Intermediate Term Upcycle, see annotated chart one at http://www.joefrocks.com/GoldStockCharts.html, that's obviously in a peaking process.
In chart three at http://www.joefrocks.com/GoldStockCharts.html one can see that gold's Secular Bull Market uptrend line is at $500ish. Basic technical analysis exposes most gold writers for what they are, when it comes to market timing and technical analysis, incompetents, and, in some cases, frauds. Gold is only timely for long term investors near it's Secular Bull Market uptrend line, currently at $500ish, so, ignore the noise of the many goofball gold writers.
Gold entered a Wave 2 Cyclical Bear Market on 3-17-08, see chart two at http://stockcharts.com/charts/gallery.html?%24gold, the same day the US Dollar entered a Cyclical Bull Market, see chart one at http://www.joefrocks.com/GoldStockCharts.html.
It's deflationary forces that obviously rule the roost. Real estate deflation is HUGE. What do you think kept the US economy reasonably strong from 2002 until 2006? REAL ESTATE. The inflation that fueled gold's bull market from April 2001 until 3-17-08 largely came from REAL ESTATE.
There's obviously a deflationary economic bust in effect, with crashing real estate, tight mortgage lending, existing home equity lines of credit being shrunk or canceled due to crashing real estate values, the auto recession, very low consumer confidence, crashing velocity/circulation of money, that's more than cancelling out money supply growth/the Fed's efforts to inflate the economy, etc etc etc.
.......http://www.JoeFRocks.com/
NEM XAU HUI
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, XAU
posted by Joe Ferrazzano at
11:24 AM
2 Comments:
Gold's down nearly -$13 right now, oil's down a few bucks (-$4ish) the last I saw, and Gustav has been downgraded to a Category 2.
From the Associated Press:
"The National Hurricane Center in Miami said Gustav hit around 11:30 a.m. near the Cocodrie (pronounced ko-ko-DREE), a low-lying community in Louisiana's Cajun country 72 miles southwest of New Orleans, as a Category 2 storm on a scale of 1 to 5. Forecasters had feared the storm would arrive as a devastating Category 4.
The extent of the damage in Cajun country was not immediately clear, and only one storm-related death, involving a woman killed in a car wreck, was reported in Louisiana."
By
Joe Ferrazzano, at 10:22 AM
Gold's down -$14 right now on 9-1.
Wave A down of the gold/HUI/XAU Wave 2 Cyclical Bear Market since 3-17-08 should bottom in the next week or two.
By
Joe Ferrazzano, at 11:15 AM
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