sp'60min
GLD, weekly
Summary
*the weekly cycle for Gold looks like a very viable multi-week cycle (from early Nov') top... and we're now in the process of rolling lower. It remains surprising that Gold is not already close to $1000, considering Copper is in the $2.40/50s.
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So.. we're a little higher... but it sure doesn't look like bulls are going to be able to manage much today.
10.03am... KEY micro double floor of 1988..... FAILS
Door is wide open to the low 1900s.
Will be interesting to see how the chatter proceeds... when we lose the 200dma..
10.09am... sp'1980 already.... a very weak open for the market.... a mere 3% until first target zone.
VIX confirming the move... +8% in the 22s.
10.37am.. Well, regardless of whatever happens in the rest of today... the break of 1988 is significant.