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Gold and S.P.'s Update

12/03/09

 

Closing Comments:

 

On the last 45 minute SHARP decline (ESZ9)

No new high on the USD or the Yen

No new low on the Euro or Gold

This is generally means this decline is short lived.

 

We have to wait and see where the decline ends before issuing new numbers,

but we are developing 2 new patterns

One is a gozilla pattern SUPER huge; one of the largest patterns I’ve seen since last November 2008, but we need a four more days before a confirmation.

The other depends where this decline ends ..

The Gozilla is pointing down and todays (pattern) decline is pointing up.

 

Well just as I had expected

Here’s the move down and next move is a  horrendous spike up well above previous highs; which will change all the bears to mutter like bulls and then a Major Collapse down.

 

ESZ9:

New Pattern

C/T (from today)

Neutral

Equalizer: 111.25

Down Price target: 1093.50

Up Price target: 1128.75

 

Regarding Short term Direction Bullish or Bearish

1089.25 to 1091.25 determines if we are Bullish or Bearish

Above = Bullish

Below = Bearish

 

 

Gold:

Here’s the most Recent Comex Daily volume numbers

 

5 day average is 204,851 contracts

 

Today’s volume is 939 contracts

This is an incredible volume crash of 99.5%