And Jarrod Hayne is over the line for an NFL touchdown with a close in Silver over the $17.46 Point of Control, which, when combined with a second close over $1,243 in Gold implies that both markets are NOW set for further gains in the lead up to FOMC next week - seemingly also with the S&P500, which is getting punch drunk on the promise of not only MOAR FED QE via Bullard, but also in Japan and Europe courtesy Mario Draghi. You can see from the post January data set in Gold that there is still $1,254 to better on a closing basis before the shorts really lose all hope of a retrace, but when taken in context of the 4/13 and 2001 data sets, you can see that this level is not as significant as $1,243. So forget about Shooting stars and other chart patterns, the profile is saying we have further to go, so there is MOAR pain to come for the Shorts before we have the word next Wednesday from the markets best friend, Janet Yellen, which is six MOAR trading days away LOL...
Posted on: Wed, 22 Oct 2014 02:10:25 +0000
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